Overseas economies on the whole still have not emerged from a deceleration phase, but some improvement has been observed, including the recovery, albeit at a moderate pace, of the U.S. economy and some emerging economies. B. Outlook for Japan’s economy and prices  I will now turn to the outlook for Japan’s economy.
BIS central bankers’ speeches  5  Graph 3  Graph 4  6  BIS central bankers’ speeches  From a financial stability perspective, these developments raise a number of important questions: to what extent (if any) are these price movements inter-related, and in what way? And what, if anything, do they tell us about the evolving risk environment?