In Japan, new passenger-car registration in October declined by about 30 percent, on a year-on-year basis, following the last-minute significant increase in demand ahead of the expiration of subsidies for purchasing energy efficient cars. Emerging  BIS Review 146/2010  1  economies have been still growing at a high rate, but the pace of growth has started to slow somewhat.
That slowdown in the pace of growth is partly attributable to the fact that, in response to the increased upward pressure on general prices and residential house prices in accordance with rapid economic growth, emerging economies have been making adjustments to their accommodative monetary conditions.