The Chinese economy will likely continue to broadly follow a stable growth path as authorities conduct fiscal and monetary policy in a timely manner. Other emerging economies and commodity-exporting economies have picked up on the whole, reflecting in particular a pick-up in exports, a bottoming out of commodity prices, and the effects of these economies' stimulus measures.
These economies are likely to increase gradually, due mainly to the spread of the effects of steady growth in advanced economies. B. Japan's economy and price developments 1. Current situation Now I would like to discuss developments in economic activity and prices in Japan. The Bank's assessment is that Japan's economy is expanding moderately, with a virtuous cycle from income to spending operating.