There remains a high degree of uncertainty about the global economy, including the prospects for the European debt problem, the momentum toward recovery for the US economy, and the likelihood of emerging and commodity-exporting economies simultaneously achieving price stability and economic growth, noted the Bank Of Japan (BOJ) in its latest monetary policy statement. .Regarding risks to the price outlook, careful attention should be paid to future developments in international commodity prices and in medium- to long-term inflation expectations, states the bank. Overseas economies have shown moderate improvement, though limited in scope; on the whole, they still have not emerged from a deceleration phase. In global financial markets, some nervousness continues to be seen, mainly due to concern about the European debt problem. Particular attention should therefore be given to developments in these markets for the time being.
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