Other emerging economies and commodity-exporting economies have picked up on the whole, particularly reflecting an increase in exports, the past bottoming out of commodity prices, and the effects of economic stimulus measures in those economies. The growth rates of these economies are likely to increase gradually, due mainly to the spread of the effects of steady growth in advanced economies.
In my view, the downside risks to the global economy have been diminishing on the whole, partly because concerns over the financial sector in Europe have abated. In this situation, I am paying particular attention to firm international commodity prices; namely, crude oil prices.