Such upside and downside risks to deviate from the forecasts have become somewhat large in both directions compared with the time of  4  BIS Review 100/2010  April.
With regard to prices, there is a possibility that inflation will rise more than expected due to a rise in commodity prices brought about by higher growth rates in emerging and commodity-exporting economies, while there is also a risk that the rate of inflation might decline due, for example, to a decline in medium- to long-term inflation expectations. III.