The Bank of Japan was established in 1882 as Japan’s central bank.
The institution was created under the Bank of Japan Act during the Meiji period, when Japan was modernizing its financial and governmental systems. Its establishment gave the country a central institution responsible for issuing banknotes and helping organize national monetary affairs.
The Bank of Japan is headquartered in Tokyo and remains responsible for monetary policy, financial-system stability, and the issuance of Japanese banknotes. It is often confused with the Ministry of Finance, which is a government ministry rather than the central bank.
A related landmark is the introduction of the Bank of Japan’s first notes in 1885. The bank’s modern policy framework includes decisions by its Policy Board, which sets important monetary-policy directions.