So far, there are few indications that the world's central banks are about to change course anytime soon. On Tuesday, the Bank of Japan bowed to pressure from government to raise its inflation target â¿¿ a move that will likely mean it has to increase its money supply. Meanwhile, the European Central Bank and the Bank of England are both facing pressure to do more to help their ailing economies.In its report on investment flows into emerging markets, the IIF said most emerging market governments may have the foresight to avoid the pitfalls of boom and bust. However, it said investors and some governments may not be so careful, leading to unexpected losses and market turmoil. The institute suggested rich countries should coordinate rate policy â¿¿ and that failure to do so risks undermining investor confidence and more market turmoil. The rise in flows have made many uneasy in developing countries, since the inflows can lead to rising exchange rates for the countries that are on the receiving end. The higher exchange rates have the potential to hurt their exports. The IIF said Tuesday that capital flows to Latin America and emerging Asian economies such as China, Indonesia and India are now 30 percent above the level in 2007, before the global financial crisis. It raised its figure for capital flows for 2012 to $1.080 trillion from $1.026 trillion estimated in October and said money movements picked up sharply in the last months of 2012 and will likely rise in 2013 to $1.118 trillion and again in 2014 to $1.115 trillion. The IIF, which is based in Washington, D.C., has 450 members, including major global commercial and investment banks, insurance companies, investment funds, hedge funds, and other finance-related institutions.