5.1. Exiting from fiscal and monetary expansion
By the end of 2009, the economy showed firm signs of a rebound. Growth was accelerating quarter by quarter (Figure 9). After nearly a year of deflation, prices were trending gradually upward again (Figure 10). With worry about the stimulus programme growing through 2009, and with the popular economics press filled with talk of impending inflation, the government began to take measures in early 2010 to tamp down the growth momentum and slow credit creation.
Figure 9. Growth recovery (quarter on quarter)