Thus, those policies benefited the global economy as a whole. However, we also acknowledged spillovers, mainly in the form of capital flows to emerging markets, resulting from the highly accommodative monetary policies in advanced economies and the prospective exit from highly accommodative monetary policies. And we exchanged views on the policy responses in emerging markets.
Turning to the outlook on prices, there is potential upward pressure on prices reflecting the yen’s depreciation, but they are expected to remain stable for some time.