// definition
BoJ
Bank of Japan
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Short definition
Japan's central bank. It sets Japanese monetary policy, steers asset purchases or sales, and can act as operational agent in currency interventions decided by the Ministry of Finance.
risk atlas
Knowledge map
Intuition
The BoJ sets the starting price of the yen carry and shapes global tolerance for cheap funding.
Why it matters now
A change of tone at the BoJ can turn a profitable carry position into currency and liquidity risk.
Related analyses
- Dollar-yen: the unwind riskUSD/JPY, the BoJ, intervention and carry liquidation.
Related guides
- Reading the carry tradeCarry mechanics, leverage and unwind risk.
- Reading the CFTC COT reportFutures positioning, trader categories and limits.
- Reading the dot plot and SEPDollar rate path and yield differential.
Related datasets
- risk.jsonPublic snapshot of the risk signals.
- signals/history.jsonPoint-in-time history of the signals.
- signals/history.csvThe same history as CSV.
- risk-diff.json1, 7 and 30-day diff of signals, sources and models.
Signals using it
- Yen Carry MonitorMethodology of the yen carry risk signal.
- Risk DiffRecent change in risk and source freshness.
Primary sources
- Bank of Japan & Ministry of Finance JapanJapanese monetary policy, BoJ statistics and FX interventions.
- Commodity Futures Trading CommissionYen and futures positioning through the COT.
- Federal Reserve & FREDDollar rates, fed funds and liquidity conditions.