JPMorgan Chase said that the minutes of the September meeting of the Bank of Japan showed that the policy committee will gradually shift towards a hawkish stance. More and more people believe that economic growth is "relatively stable" and inflation may remain near the target, so policy normalization should continue. Several Bank of Japan members said they would like to see the results of the short-term survey scheduled for Wednesday to confirm that it is time to "return to a monetary policy stance of raising policy rates" and set it "closer to the neutral rate".