Bank of Japan
a.k.a. BoJ
Japan's central bank, famous for decades of ultra-low interest rates and massive bond buying.
In plain English
Japan's central bank, famous for decades of ultra-low interest rates and massive bond buying.
The Bank of Japan (BoJ) spent decades fighting deflation with rates near or below zero, huge asset purchases and, for a while, caps on bond yields. Japan was the lab where many of today's unusual policies were first tried.
Because Japanese rates were so low for so long, the yen became the classic funding currency for the carry trade. When the BoJ finally began to move rates up from 2024, every hint shook yen pairs.
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