Improvements in the labour market, particularly stronger wage 1/2  BIS central bankers' speeches  growth, should help households adjust to higher interest rates. But clearly, this is another area we will watch closely. The second vulnerability, imbalances in the housing market, has also been affected by recent changes in government policy.
Nevertheless, people in their sixties need to learn how to extend the life of the assets they have accumulated, especially as they can now expect to live another 20 to 30 years, or even more as we look ahead to a normal life span of 100 years.