Bank of Japan

Some of the key events about Bank of Japan

• 1882

  Established as Japan's central bank to stabilize the financial system and currency
• 1927

  Failed to prevent bank runs and financial panic during the Showa Financial Crisis
• 1931

  Abandoned the gold standard, leading to rapid currency depreciation
• 1937

  Financed Japan's wartime economy through excessive money printing
• 1942

  Gained independence from the government through the Bank of Japan Act
• 1945

  Lost control of monetary policy to Allied occupation forces after World War II
• 1949

  Implemented policies to support post-war economic recovery and stabilize inflation
• 1973

  Successfully managed the economic impact of the first oil shock
• 1985

  Played a key role in negotiating the Plaza Accord to address global currency imbalances
• 1990

  Failed to prevent the collapse of Japan's asset price bubble
• 1991

  Delayed implementing monetary easing policies as Japan entered a prolonged recession
• 1997

  Raised interest rates prematurely, contributing to the Asian financial crisis
• 1999

  Introduced zero interest rate policy to combat deflation
• 2001

  Pioneered quantitative easing as a monetary policy tool
• 2001

  Introduced quantitative easing but failed to achieve inflation targets
• 2010

  Launched comprehensive monetary easing to stimulate economic growth
• 2011

  Faced criticism for slow response to deflationary pressures following the Great East Japan Earthquake
• 2013

  Initiated an unprecedented monetary easing program to combat deflation and boost growth
• 2016

  Introduced negative interest rates to further stimulate the economy
• 2016

  Implemented negative interest rates, causing concerns about bank profitability and economic distortions

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