The Bank of Japan is set to be replaced by a new entity that will control a $100 trillion bank, according to an analyst.
That’s according to Bloomberg News, which cited a source familiar with the bank’s thinking.
The source added that the replacement will likely occur as early as next month, which will see the end of the Japanese government’s control over the bank.
Bloomberg News says the replacement is expected to be announced sometime next year.
The Bank of England, which also controls the Bank for International Settlements, was forced to leave the Bank in March of this year following its own crisis, but has yet to announce a replacement.