In 1882, The Bank of Japan started its setup. Its purpose is to ensure the smooth circulation of finances throughout the nation and maintain price stability. Due to this reason, inflation becomes the top focus of the central bank. The export system is extremely strong in Japan, and unlike ECB, BOJ actively supports the provision of funds important for economic activity.
The monetary policy committee of BOJ comprises of following members;
The central bank is famous for artificially weakening the currency rates in the open market compared to US dollars and euros. The BOJ is also highly vociferous when it gets worried about the strength and volatility of the currency, and its meeting is held almost eight times per year.
The Swiss national bank is a community bank that is in charge of the country’s monetary policy. The mission of this bank is to holdup the price stability while monitoring the country’s economic situation. It has two offices; one office is in Zurich, and the other is in Berne.
Like the eurozone and Japan, Switzerland is heavily dependent on exports; it implies that SNB is not interested in strengthening its currency. Therefore, as the rate increases, its general preference tends to be more conservative.
The bank consists of a committee having three members that are responsible for deciding interest rates. SnB functions to regulate the interest rate band instead of the specific target rate. It meets four times a year to ensure the proper working of the bank.
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