Various indicators reflect that economic  BIS central bankers’ speeches  5  adjustment process remain under control. The trade deficits have started to decline in the third quarter of 2013. The foreign capital inflows has also intensified [TABLE 2]. 18. Positive developments on the balance of payment have supported the stability of rupiah since the end of September 2013.
By contrast, long-term rates have remained stable at a low level of around 0.6 percent in Japan despite the rise in long-term interest rates in other advanced economies (Chart 14). Therefore, real interest rates have been declining. Under such stimulative effects, Japan’s economy has been recovering moderately and the year-on-year rate of change in the CPI has turned positive.