The Bank Of Japan And Japan

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The Bank of Japan After researching through several different countries’ central banks, I decided to settle on talking about the Bank of Japan. Currently, Japan’s economy is going through a rough patch for the first part of the year, stemming from its poor performance in the economy from the previous year. To better understand the Bank of Japan, I will talk about the Bank in five separate sections starting with the Bank’s background. Afterword, I will continue with the following topics: the Bank’s monetary policy, the central bank balance sheet and currency, its current economical conditions. Lastly, I will be concluding with a future forecast and my own opinion about the near challenges the Bank of Japan will face. Background The Bank…show more content…
In order to reach these objectives, the Bank needed to have a strong internal structure. The head of this group is a Governor who represents and controls the Bank. Following the Governor are two deputy governors who assist the governor and administer the Bank’s business. The rest of the Policy Board is comprised of six other members. Below the Policy Board we have Auditors, Executive Directors, and a few Counselors who aid the Governor and Deputy Governors at operating and administering the Bank (“Organization Chart”). Each Governor, Deputy Governor, and Executive Director is in charge of one or several of the fifteen head offices (日本銀行). Lastly we have various offices that do various things for the Bank of Japan. First of all, there are 32 branches that operate “currency issues and banking operations” and they also research on specific “economic and financial situations in their respective areas” (“Organization Chart”). After that Japan has 14 local offices that “handle some of the operations of the Head Office or branches” (“Organization Chart”). Finally, there are 7 Overseas Representative Offices that “perform liaison functions, gather information and conduct research” (“Organization Chart”). The current governor of the Bank of Japan is Mr. Haruhiko Kuroda; he has held this position since March 19, 2013. Before he served as the Bank’s governor, Mr. Kuroda was “the President of Asian Development Bank”
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