The total fertility rate has been gradually increasing; however, it continues to face the challenges of an aging population. Meanwhile, Japan faces the headwinds of both a declining and an aging population, with a total fertility rate far below two.1 Today, I would like to talk about how such demographic changes are affecting the financial sector.
Subsequently, the Funding for Lending Scheme (FLS) was put in place in July 2012 with the aim of incentivising banks and building societies to boost their lending to the UK real economy3. Japan’s economy had deteriorated for nearly 15 years under the threat of deflation.