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BOJ Will Prepare ‘Thoroughly’ for Possible Launch of Digital Yen

by CBDC Insider
March 29, 2022
in Asia, Business
Reading Time: 1min read
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BOJ Will Prepare ‘Thoroughly’ for Possible Launch of Digital Yen

Haruhiko Kuroda, governor of the Bank of Japan (BOJ), at the central bank's headquarters in Tokyo, Japan, on Thursday, May 27, 2021. BOJ will consider climate change in its monetary policy discussions, Kuroda said in his clearest signal yet that the central bank is looking to support the battle against global warming. Photographer: Shoko Takayasu/Bloomberg

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The Bank of Japan currently has no plan to issue its own digital currency but will prepare “thoroughly” to respond to changing circumstances that could require it to do so in future, Governor Haruhiko Kuroda said on Tuesday.

Kuroda made the remark in a speech to a private seminar on financial service innovation.

The BOJ plans to move to the second phase of an experiment for issuing a central bank digital currency (CBDC) from April, which will be key to deciding on pilot programmes and the eventual launch of a digital yen.

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