Monetary policy meeting minutes released for six months starting three months after the start of extraordinary easing. At the time, speculation about revisions to U.S.
monetary policy caused turbulence in financial markets. It is clear that policy committee members were strongly aware of the risks involved in normalizing monetary policy during this period. There is now a view in the market that the time for a change in the Bank of Japan's policy is approaching, and the focus will now be on how the bank will communicate with the market.