Japan
1 min read
Japan’s capital, Tokyo, is the largest metropolitan area in the globe. Though a small country, it is home to 36 million hard-working citizens. Japanese have one among the very best standards of living, while also having the very best anticipation within the world. Japan is additionally one among the foremost advanced and tech-friendly countries within the world.
Aside from being the computer game capital of the planet, Japan’s economy is ranked because the third-largest within the world.
It make up 14% of the country’s output, but it’s also the sixth-largest in the world.
Recently, Japan has been riding the cocktails of China’s massive growth. With Japan being the nearest major economy, Chinese demand has led to massive shopping sprees of Japanese products.
While the Bank of Japan (BOJ) has been around since the late 1800s, only recently did the BOJ gain independence from the Ministry of Finance (MoF).
It was only in 1998 that the Japanese government passed laws giving the BOJ control over monetary policy.
Ministry of Finance (MoF) still remains responsible of exchange policy, which has led to tension and continuous differences between the 2 .
The BOJ’s main objective is that of price stability. The ninja bankers at the BOJ make use of open market operations and rate of interest changes to satisfy their goals.
