The increase has been modest to date and so these rates remain very low in historical terms. In any case, fixed-rate loans at these longer terms account for a small share of overall lending. Meanwhile, the rates on shorter-term fixed-rate mortgages are little changed.
Japan is currently the most aged society in the world. Sooner or later, however, other economies will face a similar situation. Many issues must be considered in our efforts to cope with an aging society, including fiscal, monetary, and structural policies. I believe the G20 provides a valuable forum for discussion and mutual understanding of these issues.