Peak-to-trough, lending rates on small loans have fallen from 6.24% to 2.42% in the twelve months up to September 2009; lending rates on large loans have fallen from 5.55% in September 2008 to 1.93% in September 2009.
The theme of this year’s conference is “demographic changes and macroeconomic performance.” On the theme, I am sure that Japan is the most notable case that provides a basis for discussion. Japan’s population and the working-age population – that is, the population aged between 15 and 64 years – came to decline after their peak-years in 2007 and in 1995 respectively.