On the subject of the Bank of England's policy regarding communication between itself and financial markets, Governor Mervyn King, in his speech, said that central banks should provide markets with two key pieces of information -- the objective of monetary policy and the central banks' analysis of and outlook for the economy -- to facilitate the formation of market expectations regarding the path of future policy rates.
Indeed, just this year, Japan reported a drop in its male population, and the number of deaths in that country began to exceed the number of births. But for most OECD countries, the era of declining labour forces and population is still at least a couple of decades away.