2 As for prices, under the assumption that medium- to long-term inflation expectations remain stable, there are prospects that the year-on-year rate of change in the CPI (excluding fresh food) could turn positive in fiscal 2011 as the aggregate demand and supply balance moderately improves.
D.  Risk factors  Next, I will discuss the risk factors relevant to the outlook I have just talked about. The three risk factors that I am particularly concerned about at present are: (1) developments in global financial markets; (2) the sustainability of growth in emerging and commodity-exporting economies; and (3) a decline in the expected growth rate of the economy.