Many studies, however, show that the percentage of healthy people aged 65 or more is increasing. Data from the World Health Organization (WHO) as of 2007 revealed that healthy life expectancy, which is the average number of years a person can expect to live in full health, was 76 years in Japan, the highest in the world.
I would like emphasize that the RRR cuts are not intended to be expansionary as these are offset by compensating actions. Excess liquidity is reabsorbed through our open market operations and significant FX operations. The upward trend in market rates validates tighter market conditions. Finally, I would like to emphasize that the RRR cuts will be gradual and phased over a number of years.