The initial success of the scheme can be gauged from the fact that over 3 million dwelling units have been financed. NHB is also playing a significant role in creating market infrastructure for housing finance and has made efforts in plugging the demand supply gaps, particularly for the low and moderate income households in urban and rural areas.
The money market continues to be stable overall against the background of the Bank’s provision of ample liquidity. In the capital market, Japanese stock prices declined temporarily from late April given declines in stock prices and rises in interest rates worldwide, but they rose thereafter. Long-term interest rates have been stable on the whole, but are recently rising somewhat.