What I hear you saying is that interest rates are low. Generally speaking, yields or interest rates on bonds, which is the mechanism through which the government borrows, tend to be higher the longer the term of the bond. Given that rates are low, however, what I hear you saying is that the government has tried to borrow over longer term periods at lower rates to keep the cost of servicing that debt low in the future. Is that right?
On May 2nd, 2022. See this statement in context.