{"id":1141,"date":"2015-06-08T22:45:17","date_gmt":"2015-06-08T13:45:17","guid":{"rendered":"http:\/\/www.globalmacroresearch.org\/jp\/?p=1141"},"modified":"2015-06-28T10:13:11","modified_gmt":"2015-06-28T01:13:11","slug":"ecb%e3%81%ae%e9%87%8f%e7%9a%84%e7%b7%a9%e5%92%8c%e3%81%af%e3%81%84%e3%81%a4%e7%b5%82%e4%ba%86%e3%81%99%e3%82%8b%e3%81%ae%e3%81%8b%ef%bc%9f-%e3%83%a6%e3%83%bc%e3%83%ad%e5%9c%8f%e5%a4%b1%e6%a5%ad","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/1141","title":{"rendered":"ECB\u306e\u91cf\u7684\u7de9\u548c\u306f\u3044\u3064\u7d42\u4e86\u3059\u308b\u306e\u304b\uff1f: \u30e6\u30fc\u30ed\u570f\u5931\u696d\u7387\u3001CPI\u3001GDP\u30c7\u30d5\u30ec\u30fc\u30bf\u30fc"},"content":{"rendered":"<p>2015\u5e741\u6708\u306bECB\uff08\u6b27\u5dde\u4e2d\u592e\u9280\u884c\uff09\u304c\u91cf\u7684\u7de9\u548c\u3092\u5c0e\u5165\u3057\u3066\u4ee5\u6765\u3001\u30e6\u30fc\u30ed\u570f\u7d4c\u6e08\u306f\u7740\u5b9f\u306b\u56de\u5fa9\u3057\u3066\u3044\u308b\u3002\u91cf\u7684\u7de9\u548c\u5c0e\u5165\u6642\u306e\u8a18\u4e8b\u3067\u3001\u5931\u696d\u7387\u306b\u6539\u5584\u306e\u4f59\u5730\u304c\u5927\u3044\u306b\u3042\u308b\u30e6\u30fc\u30ed\u570f\u3067\u306f\u3001\u52b4\u50cd\u5e02\u5834\u304c\u5b8c\u5168\u96c7\u7528\u306b\u9054\u3057\u3066\u3044\u308b\u65e5\u672c\u3088\u308a\u3082\u901f\u3044\u30b9\u30d4\u30fc\u30c9\u3067\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u6539\u5584\u3059\u308b\u3068\u66f8\u3044\u305f\u304c\u3001\u305d\u308c\u306b\u3057\u3066\u3082\u4e88\u60f3\u4ee5\u4e0a\u306e\u30b9\u30d4\u30fc\u30c9\u3067\u3042\u308b\u3002<\/p>\n<ul>\n<li><a title=\"ECB\u304c\u6708\u9593600\u5104\u30e6\u30fc\u30ed\u306e\u91cf\u7684\u7de9\u548c\u3092\u767a\u8868\u3001\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u30922\u500d\u306b\u62e1\u5927\u3078\" href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/648\">ECB\u304c\u6708\u9593600\u5104\u30e6\u30fc\u30ed\u306e\u91cf\u7684\u7de9\u548c\u3092\u767a\u8868\u3001\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u30922\u500d\u306b\u62e1\u5927\u3078<\/a><\/li>\n<\/ul>\n<p>\u7269\u4fa1\u6307\u6a19\u3084\u5931\u696d\u7387\u306a\u3069\u3001\u30e6\u30fc\u30ed\u570f\u306e\u5404\u6307\u6a19\u3092\u5206\u6790\u3057\u305f\u3044\u3002\u5148\u305a\u306f\u30c9\u30a4\u30c4\u306e\u7269\u4fa1\u306e\u30b0\u30e9\u30d5\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/06\/2015-apr-germany-cpi-gdp-deflator.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1152\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/06\/2015-apr-germany-cpi-gdp-deflator.png\" alt=\"2015-apr-germany-cpi-gdp-deflator\" width=\"420\" height=\"400\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/06\/2015-apr-germany-cpi-gdp-deflator.png 420w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/06\/2015-apr-germany-cpi-gdp-deflator-300x286.png 300w\" sizes=\"auto, (max-width: 420px) 100vw, 420px\" \/><\/a><!--more--><\/p>\n<p>CPI\uff08\u6d88\u8cbb\u8005\u7269\u4fa1\u6307\u6570\uff09\u306b\u95a2\u3057\u3066\u306f\u30011\u6708\u3092\u8d77\u70b9\u306b\u898b\u4e8b\u306b\u5e95\u3092\u6253\u3063\u3066\u3044\u308b\u3053\u3068\u304c\u898b\u3066\u53d6\u308c\u308b\u3002\u539f\u6cb9\u4fa1\u683c\u304c1\u6708\u306b\u4e00\u5ea6\u5e95\u6253\u3061\u3057\u3066\u3044\u308b\u305f\u3081\u3001\u8f38\u5165\u7269\u4fa1\u306e\u30b0\u30e9\u30d5\u307b\u3069\u56de\u5fa9\u304c\u5927\u304d\u3044\u304c\u3001\u6ce8\u76ee\u3059\u3079\u304d\u306f\u56fd\u5185\u306e\u7269\u4fa1\u306e\u52d5\u304d\u3092\u53cd\u6620\u3059\u308bGDP\u30c7\u30d5\u30ec\u30fc\u30bf\u30fc\u3082\u5e95\u3092\u6253\u3063\u3066\u3044\u308b\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n<p>GDP\u30c7\u30d5\u30ec\u30fc\u30bf\u30fc\u306f\u56db\u534a\u671f\u306b\u4e00\u5ea6\u306e\u516c\u8868\u3067\u3042\u308b\u305f\u3081\u3001\u3053\u308c\u304c\u6301\u7d9a\u3059\u308b\u30c8\u30ec\u30f3\u30c9\u304b\u3069\u3046\u304b\u306f4-6\u6708\u671f\u306eGDP\u767a\u8868\u3092\u5f85\u305f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u304c\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u3001\u5c11\u306a\u304f\u3068\u3082\u52b4\u50cd\u5e02\u5834\u306f\u7269\u4fa1\u306e\u56de\u5fa9\u3092\u793a\u5506\u3057\u3066\u3044\u308b\u3088\u3046\u3067\u3042\u308b\u3002<\/p>\n<p><strong>\u56de\u5fa9\u3059\u308b\u30c9\u30a4\u30c4\u306e\u52b4\u50cd\u5e02\u5834<\/strong><\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/06\/2015-apr-germany-unemployment-rate.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1150\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/06\/2015-apr-germany-unemployment-rate.png\" alt=\"2015-apr-germany-unemployment-rate\" width=\"407\" height=\"340\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/06\/2015-apr-germany-unemployment-rate.png 407w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/06\/2015-apr-germany-unemployment-rate-300x251.png 300w\" sizes=\"auto, (max-width: 407px) 100vw, 407px\" \/><\/a><\/p>\n<p>\u4e0a\u8a18\u306f\u30c9\u30a4\u30c4\u306e\u5931\u696d\u7387\u306e\u30b0\u30e9\u30d5\u3067\u3042\u308b\u304c\u3001\u9806\u8abf\u306b\u56de\u5fa9\u57fa\u8abf\u306b\u4e57\u3063\u3066\u3044\u308b\u3002\u30e6\u30fc\u30ed\u570f\u304c\u4f55\u6545\u30c7\u30d5\u30ec\u306b\u5411\u304b\u3063\u3066\u3044\u308b\u304b\u3092\u8003\u616e\u3059\u308c\u3070\u3001\u30e6\u30fc\u30ed\u570f\u7d4c\u6e08\u306b\u3068\u3063\u3066\u3053\u308c\u306f\u975e\u5e38\u306b\u6b63\u3057\u3044\u5146\u5019\u3067\u3042\u308b\u3068\u5206\u304b\u308b\u3060\u308d\u3046\u3002<\/p>\n<p>\u30e6\u30fc\u30ed\u570f\u306e\u7d4c\u6e08\u505c\u6ede\u306e\u80cc\u666f\u306b\u306f\u3001\u7d4c\u6e08\u5371\u6a5f\u304b\u3089\u56de\u5fa9\u3057\u3066\u3044\u306a\u3044\u30ae\u30ea\u30b7\u30e3\u3084\u30b9\u30da\u30a4\u30f3\u306a\u3069\u306e\u5357\u6b27\u8af8\u56fd\u304c\u3042\u308b\u3002\u5931\u696d\u7387\u304c20%\u3092\u8d85\u3048\u308b\u3053\u308c\u3089\u306e\u56fd\u3067\u306f\u3001\u7279\u306b\u82e5\u8005\u306b\u3068\u3063\u3066\u8077\u63a2\u3057\u304c\u96e3\u3057\u304f\u3001\u5927\u91cf\u306e\u5931\u696d\u8005\u304c\u30c9\u30a4\u30c4\u3078\u3068\u6d41\u308c\u3053\u3080\u3002\u5916\u56fd\u4eba\u52b4\u50cd\u8005\u306e\u6d41\u5165\u306f\u30c9\u30a4\u30c4\u306e\u52b4\u50cd\u5e02\u5834\u3092\u4f9b\u7d66\u904e\u591a\u306b\u3057\u3001\u8cc3\u91d1\u306b\u4e0b\u65b9\u5727\u529b\u304c\u751f\u3058\u308b\u3002\u4f4e\u3044\u8cc3\u91d1\u3092\u5229\u7528\u3057\u3066\u30c9\u30a4\u30c4\u306e\u8f38\u51fa\u4f01\u696d\u306f\u7e41\u6804\u3059\u308b\u304c\u3001\u5185\u9700\u306b\u4f9d\u5b58\u3059\u308b\u591a\u304f\u306e\u4f01\u696d\u306f\u3001\u4f4e\u8cc3\u91d1\u306b\u3088\u308b\u5f31\u3044\u500b\u4eba\u6d88\u8cbb\u306b\u82e6\u3057\u3080\u3001\u3068\u3044\u3046\u69cb\u56f3\u3067\u3042\u308b\u3002<\/p>\n<p>\u3053\u306e\u72b6\u614b\u3092\u89e3\u6d88\u3059\u308b\u306b\u306f\u3001\u96c7\u7528\u3092\u5275\u308a\u4e0a\u3052\u308b\u3057\u304b\u306a\u3044\u3002\u91cf\u7684\u7de9\u548c\u306b\u3088\u308b\u901a\u8ca8\u5b89\u3068\u4f4e\u91d1\u5229\u3067\u3001\u8f38\u51fa\u7523\u696d\u3068\u5efa\u8a2d\u696d\u3092\u523a\u6fc0\u3059\u308b\u306e\u3067\u3042\u308b\u3002\u96c7\u7528\u74b0\u5883\u304c\u6539\u5584\u3055\u308c\u308c\u3070\u500b\u4eba\u6d88\u8cbb\u3082\u623b\u308a\u3001\u8f38\u51fa\u4ee5\u5916\u306e\u7523\u696d\u3082\u4eba\u3092\u96c7\u3046\u4f59\u88d5\u304c\u51fa\u308b\u3002\u3053\u306e\u597d\u5faa\u74b0\u306f\u65e9\u304f\u3082\u52d5\u304d\u59cb\u3081\u3066\u3044\u308b\u3053\u3068\u304c\u3001\u4ed6\u306e\u56fd\u3005\u306e\u5931\u696d\u7387\u304b\u3089\u3082\u898b\u3066\u53d6\u308c\u308b\u3002<\/p>\n<p><strong>\u9ad8\u5931\u696d\u7387\u306e\u56fd\u307b\u3069\u6539\u5584\u8457\u3057\u3044<\/strong><\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/06\/2015-apr-eurozone-unemployment-rate.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1151\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/06\/2015-apr-eurozone-unemployment-rate.png\" alt=\"2015-apr-eurozone-unemployment-rate\" width=\"410\" height=\"357\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/06\/2015-apr-eurozone-unemployment-rate.png 410w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/06\/2015-apr-eurozone-unemployment-rate-300x261.png 300w\" sizes=\"auto, (max-width: 410px) 100vw, 410px\" \/><\/a><\/p>\n<p>\u30b9\u30da\u30a4\u30f3\u306e\u56de\u5fa9\u304c\u76ee\u899a\u307e\u3057\u3044\u3002\u30c9\u30e9\u30ae\u7dcf\u88c1\u304c\u7de9\u548c\u306b\u8a00\u53ca\u3057\u305f2014\u5e745\u6708\u6642\u70b9\u306726.2%\u3067\u3042\u3063\u305f\u5931\u696d\u7387\u306f\u30012015\u5e744\u6708\u6642\u70b9\u306722.7%\u307e\u3067\u4e0b\u304c\u3063\u305f\u3002\u30dd\u30eb\u30c8\u30ac\u30eb\u308216.9%\u304b\u308913.0%\u3078\u306e\u56de\u5fa9\u3067\u3042\u308b\u3002\u30a4\u30bf\u30ea\u30a2\u3001\u30d5\u30e9\u30f3\u30b9\u306b\u3064\u3044\u3066\u306f\u91cf\u7684\u7de9\u548c\u524d\u306e2015\u5e7411\u6708\u304c\u30d4\u30fc\u30af\u3068\u306a\u3063\u3066\u3044\u308b\u304c\u3001\u56de\u5fa9\u3057\u3066\u3044\u308b\u3068\u306f\u8a00\u3044\u304c\u305f\u304f\u3001\u4e2d\u9577\u671f\u3067\u306f\u6a2a\u3070\u3044\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n<p>\u8208\u5473\u6df1\u3044\u306e\u306f\u3001\u56fd\u50b5\u304c\u91cf\u7684\u7de9\u548c\u306e\u5bfe\u8c61\u304b\u3089\u5916\u308c\u3001\u91d1\u5229\u3082\u4e0a\u6607\u3057\u3066\u3044\u308b\u30ae\u30ea\u30b7\u30e3\u3067\u5931\u696d\u7387\u306e\u6539\u5584\u304c\u898b\u3089\u308c\u308b\u3053\u3068\u3067\u3042\u308b\u30022014\u5e745\u6708\u304b\u3089\u6700\u65b0\u306e2015\u5e743\u6708\u3067\u300127.7%\u304b\u308925.6%\u306e\u56de\u5fa9\u3068\u306a\u3063\u305f\u3002<\/p>\n<p>\u30e6\u30fc\u30ed\u570f\u5168\u4f53\u3067\u306f11.7%\u304b\u308911.1%\u306e\u56de\u5fa9\u3068\u306a\u3063\u3066\u304a\u308a\u3001\u91cf\u7684\u7de9\u548c\u306f\u3068\u308a\u308f\u3051\u9ad8\u5931\u696d\u7387\u306e\u56fd\u3005\u3067\u5229\u3044\u3066\u3044\u308b\u3002\u3053\u306e\u6210\u529f\u3092\u52a0\u5473\u3059\u308c\u3070\u3001ECB\u306e\u91cf\u7684\u7de9\u548c\u306f\u4eca\u5f8c\u3069\u3046\u306a\u308b\u306e\u304b\uff1f\u3000\u4e00\u5fdc\u306e\u671f\u9650\u3068\u3055\u308c\u3066\u3044\u308b2016\u5e749\u6708\u3067\u7d42\u4e86\u3059\u308b\u306e\u304b\uff1f<\/p>\n<p><strong>\u30c7\u30d5\u30ec\u963b\u6b62\u304b\u3001\u96c7\u7528\u74b0\u5883\u6539\u5584\u304b<\/strong><\/p>\n<p>\u5148\u305a\u660e\u78ba\u306b\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u306e\u306f\u3001ECB\u306e\u653f\u7b56\u76ee\u6a19\u3067\u3042\u308b\u3002\u5efa\u524d\u4e0a\u3067\u306f\u3001\u30c7\u30d5\u30ec\u5165\u308a\u3092\u963b\u6b62\u3059\u308b\u305f\u3081\u306e\u91cf\u7684\u7de9\u548c\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u3063\u3066\u304a\u308a\u3001\u73fe\u6642\u70b9\u3067\u306e\u52b4\u50cd\u5e02\u5834\u306e\u56de\u5fa9\u3092\u8003\u3048\u308c\u3070\u30012016\u5e749\u6708\u6642\u70b9\u3067\u306f\u30c7\u30d5\u30ec\u304b\u3089\u7a0b\u9060\u3044\u72b6\u6cc1\u306b\u306a\u3063\u3066\u3044\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3002<\/p>\n<p>\u3057\u304b\u3057\u306a\u304c\u3089\u3001\u30e6\u30fc\u30ed\u570f\u306e\u52b4\u50cd\u5e02\u5834\u306b\u306f\u3044\u307e\u3060\u6539\u5584\u306e\u4f59\u5730\u304c\u5927\u3044\u306b\u3042\u308b\u3002\u7c73\u56fd\u304c\u5931\u696d\u7387\u304c6%\u524d\u5f8c\u306b\u843d\u3061\u308b\u307e\u3067\u91cf\u7684\u7de9\u548c\u3092\u7d9a\u3051\u305f\u3053\u3068\u3092\u8003\u3048\u308c\u3070\u3001\u30e6\u30fc\u30ed\u570f\u306e11.1%\u306f\u3044\u307e\u3060\u9ad8\u3059\u304e\u308b\u3002\u3053\u306e\u307e\u307e\u306e\u901f\u5ea6\u3067\u5931\u696d\u7387\u304c\u4e0b\u843d\u3057\u305f\u3068\u3057\u3066\u3082\u30012016\u5e749\u6708\u306e\u6bb5\u968e\u3067\u306f\u826f\u304f\u3066\u30828%\u53f0\u3068\u3044\u3046\u3068\u3053\u308d\u3060\u308d\u3046\u3002<\/p>\n<p>\u7279\u306b\u30b9\u30da\u30a4\u30f3\u306a\u3069\u306f\u91cf\u7684\u7de9\u548c\u306e\u7d99\u7d9a\u3092\u9858\u3046\u3060\u308d\u3046\u304c\u3001ECB\u306e\u76ee\u7684\u304c\u5358\u306b\u30c7\u30d5\u30ec\u963b\u6b62\u3067\u3042\u308b\u306a\u3089\u3070\u3001\u91cf\u7684\u7de9\u548c\u306f\u7d99\u7d9a\u306e\u540d\u76ee\u3092\u5931\u3046\u3060\u308d\u3046\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u30c9\u30a4\u30c4\u304c\u3053\u306e\u7d50\u679c\u306b\u3069\u3046\u53cd\u5fdc\u3059\u308b\u304b\u3068\u3044\u3046\u3053\u3068\u304c\u91cd\u8981\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n<p><strong>\u518d\u3073\u30e8\u30fc\u30ed\u30c3\u30d1\u306e\u4e00\u54e1\u3068\u306a\u308a\u305f\u3044\u30c9\u30a4\u30c4<\/strong><\/p>\n<p>\u30c9\u30a4\u30c4\u306f\u5357\u6b27\u8af8\u56fd\u306e\u305f\u3081\u306b\u304a\u91d1\u3092\u6255\u3046\u3053\u3068\u3092\u5feb\u304f\u306f\u601d\u3063\u3066\u3044\u306a\u3044\u3002\u3057\u304b\u3057\u3001\u30c9\u30a4\u30c4\u306b\u3068\u3063\u3066\u30e6\u30fc\u30ed\u570f\u306f\u5358\u306a\u308b\u7d4c\u6e08\u5171\u540c\u4f53\u3067\u306f\u306a\u304f\u3001\u7b2c\u4e8c\u6b21\u4e16\u754c\u5927\u6226\u306e\u3042\u3068\u3001\u518d\u3073\u30e8\u30fc\u30ed\u30c3\u30d1\u306e\u4e00\u54e1\u3068\u306a\u308b\u305f\u3081\u306e\u6587\u5316\u7684\u652f\u67f1\u306a\u306e\u3067\u3042\u308b\u3002\u30c9\u30a4\u30c4\u306f\u3044\u307e\u3060\uff08\u3042\u308b\u3044\u306f\u6b74\u53f2\u7684\u306b\uff09\u3001\u30d5\u30e9\u30f3\u30b9\u3084\u30a4\u30ae\u30ea\u30b9\u306a\u3069\u306e\u8fd1\u96a3\u8af8\u56fd\u304b\u3089\u4e00\u6b69\u8ddd\u96e2\u3092\u7f6e\u304b\u308c\u3066\u304a\u308a\u3001\u30c9\u30a4\u30c4\u56fd\u6c11\u306f\u5e38\u306b\u5f7c\u3089\u3068\u5171\u306b\u30e8\u30fc\u30ed\u30c3\u30d1\u306e\u4e00\u54e1\u3067\u3042\u308a\u305f\u3044\u3068\u9858\u3063\u3066\u3044\u308b\u3002<\/p>\n<p>\u30c9\u30a4\u30c4\u306e\u6587\u5316\u7684\u7acb\u5834\u3092\u8003\u616e\u3059\u308c\u3070\u3001\u3082\u3057\u304b\u3059\u308b\u3068\u30c9\u30a4\u30c4\u304c\u91cf\u7684\u7de9\u548c\u306e\u6210\u529f\u3092\u7d99\u7d9a\u3057\u305f\u3044\u3068\u9858\u3046\u3053\u3068\u3082\u3042\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u3057\u304b\u3057\u3001\u305d\u308c\u306b\u3057\u3066\u3082\u30e6\u30fc\u30ed\u570f\u306e\u91cf\u7684\u7de9\u548c\u306f\u6210\u529f\u3057\u3066\u3044\u308b\u3002\u7b2c\u4e8c\u5f3e\u304c\u3042\u308b\u3068\u3057\u3066\u3082\u30012016\u5e749\u6708\u3067\u4e00\u65e6\u505c\u6b62\u3057\u3066\u69d8\u5b50\u3092\u898b\u308b\u3060\u3051\u306e\u4f59\u88d5\u306f\u3042\u308b\u3060\u308d\u3046\u3002\u6295\u8cc7\u5bb6\u306f\u305d\u308c\u3092\u8003\u616e\u3057\u3066\u6295\u8cc7\u3092\u7d99\u7d9a\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002<\/p>\n<p><strong>\u8abf\u6574\u4e2d\u306e\u91cf\u7684\u7de9\u548c\u95a2\u9023\u682a<\/strong><\/p>\n<p>\u3055\u3066\u3001\u6700\u8fd1\u306e\u76f8\u5834\u3067\u306f\u3001\u3053\u308c\u307e\u3067\u76ee\u899a\u307e\u3057\u3044\u4e0a\u3052\u76f8\u5834\u3092\u6f14\u3058\u3066\u304d\u305f\u4e0d\u52d5\u7523\u682a\u3084\u8f38\u51fa\u682a\u306a\u3069\u306f\u8abf\u6574\u306b\u5165\u3063\u3066\u3044\u308b\u3002\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u53d6\u308a\u4e0a\u3052\u305f\u9298\u67c4\u3092\u518d\u3073\u30ec\u30d3\u30e5\u30fc\u3057\u3088\u3046\u3002<\/p>\n<ul>\n<li><a title=\"ECB\u304c\u91cf\u7684\u7de9\u548c\u3092\u767a\u8868\u3001\u8cb7\u3046\u3079\u304d\u9298\u67c4\u306f\u4f55\u304b\uff1f\" href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/656\">ECB\u304c\u91cf\u7684\u7de9\u548c\u3092\u767a\u8868\u3001\u8cb7\u3046\u3079\u304d\u9298\u67c4\u306f\u4f55\u304b\uff1f<\/a><\/li>\n<\/ul>\n<p>\u5148\u305a\u8f38\u51fa\u682a\u306e\u7b46\u982d\u3001\u30d9\u30f3\u30c4\u306a\u3069\u306e\u30d6\u30e9\u30f3\u30c9\u3092\u4fdd\u6709\u3059\u308bDaimler (XETRA:DAI\u3001<a href=\"https:\/\/www.google.com\/finance?cid=677263\" target=\"_blank\">Google Finance<\/a>)\u306f\u3001\u20ac70-\u20ac80\u306e\u30ec\u30f3\u30b8\u3067\u306fP\/E\uff08\u682a\u4fa1\u53ce\u76ca\u7387\uff09\u304c10\u53f0\u3068\u306a\u308a\u8cb7\u3044\u3067\u3042\u308b\u3002<\/p>\n<p>\u30d5\u30e9\u30f3\u30af\u30d5\u30eb\u30c8\u56fd\u969b\u7a7a\u6e2f\u306a\u3069\u3092\u4fdd\u6709\u3059\u308bFraport (XETRA:FRA\u3001<a href=\"https:\/\/www.google.com\/finance?q=ETR:FRA\" target=\"_blank\">Google Finance<\/a>)\u306f\u3001\u63a8\u5968\u3057\u305f1\u6708\u6642\u70b9\u304b\u3089\u4e0a\u304c\u3063\u3066\u304a\u308a\u3001\u7a4d\u6975\u7684\u306b\u8cb7\u3044\u306b\u884c\u304f\u6c34\u6e96\u3067\u306f\u306a\u3044\u304c\u3001\u9577\u671f\u7684\u306b\u306f\u5831\u308f\u308c\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3002\u3057\u304b\u3057\u3001\u5931\u696d\u7387\u306a\u3069\u306e\u6539\u5584\u3082\u3042\u308a\u3001\u4e2d\u671f\u7684\u306b\u306f\u8abf\u6574\u5c40\u9762\u304c\u7d9a\u304f\u3060\u308d\u3046\u3002<\/p>\n<p>\u53cc\u65b9\u3068\u3082\u3001ECB\u306e\u91cf\u7684\u7de9\u548c\u304c\u671f\u9650\u3088\u308a\u524d\u306b\u7d42\u308f\u308b\u3053\u3068\u304c\u8003\u3048\u3065\u3089\u3044\u3068\u3044\u3046\u524d\u63d0\u306b\u7acb\u3063\u3066\u3044\u308b\u3002\u3053\u306e\u5834\u5408\u3001\u30e6\u30fc\u30ed\u30c9\u30eb\u306f\u3001\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u3067\u898b\u305f\u9069\u6b63\u50241.15\u3092\u57fa\u6e96\u3068\u3057\u3066\u52d5\u304f\u3053\u3068\u306b\u306a\u308b\u3002\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u306e\u5206\u6790\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3092\u53c2\u7167\u3002<\/p>\n<ul>\n<li><a title=\"\u30dd\u30f3\u30c9\u3068\u30e6\u30fc\u30ed\u306f\u9069\u6b63\u6c34\u6e96\u307e\u3067\u4e0a\u6607\u3001\u5186\u306f\u9577\u671f\u4e0b\u843d\u30c8\u30ec\u30f3\u30c9\u3001\u3088\u3063\u3066\u30c9\u30eb\u8cb7\u3044\" href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/1080\">\u30dd\u30f3\u30c9\u3068\u30e6\u30fc\u30ed\u306f\u9069\u6b63\u6c34\u6e96\u307e\u3067\u4e0a\u6607\u3001\u5186\u306f\u9577\u671f\u4e0b\u843d\u30c8\u30ec\u30f3\u30c9\u3001\u3088\u3063\u3066\u30c9\u30eb\u8cb7\u3044<\/a><\/li>\n<li><a title=\"ECB\u304c\u6708\u9593600\u5104\u30e6\u30fc\u30ed\u306e\u91cf\u7684\u7de9\u548c\u3092\u767a\u8868\u3001\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u30922\u500d\u306b\u62e1\u5927\u3078\" href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/648\">ECB\u304c\u6708\u9593600\u5104\u30e6\u30fc\u30ed\u306e\u91cf\u7684\u7de9\u548c\u3092\u767a\u8868\u3001\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u30922\u500d\u306b\u62e1\u5927\u3078<\/a><\/li>\n<\/ul>\n<p>\u30e6\u30fc\u30ed\u570f\u306e\u56de\u5fa9\u306b\u306f\u9a5a\u304b\u3055\u308c\u3066\u3044\u308b\u3002\u91cf\u7684\u7de9\u548c\u3092\u7d99\u7d9a\u3059\u308b\u306b\u305b\u3088\u3001\u505c\u6b62\u3059\u308b\u306b\u305b\u3088\u3001\u30e6\u30fc\u30ed\u570f\u306b\u3068\u3063\u3066\u305d\u308c\u307b\u3069\u60aa\u3044\u7d50\u679c\u306b\u306f\u306a\u3089\u306a\u3044\u3060\u308d\u3046\u3002\u76ee\u6a19\u306f\u5931\u696d\u7387\u304b\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u304b\u3001\u30c9\u30e9\u30ae\u7dcf\u88c1\u3068\u30c9\u30a4\u30c4\u9ad8\u5b98\u306e\u767a\u8a00\u306b\u6ce8\u76ee\u3057\u305f\u3044\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2015\u5e741\u6708\u306bECB\uff08\u6b27\u5dde\u4e2d\u592e\u9280\u884c\uff09\u304c\u91cf\u7684\u7de9\u548c\u3092\u5c0e\u5165\u3057\u3066\u4ee5\u6765\u3001\u30e6\u30fc\u30ed\u570f\u7d4c\u6e08\u306f\u7740\u5b9f\u306b\u56de\u5fa9\u3057\u3066\u3044\u308b\u3002\u91cf\u7684\u7de9\u548c\u5c0e\u5165\u6642\u306e\u8a18\u4e8b\u3067\u3001\u5931\u696d\u7387\u306b\u6539\u5584\u306e\u4f59\u5730\u304c\u5927\u3044\u306b\u3042\u308b\u30e6\u30fc\u30ed\u570f\u3067\u306f\u3001\u52b4\u50cd\u5e02\u5834\u304c\u5b8c\u5168\u96c7\u7528\u306b\u9054\u3057\u3066\u3044\u308b\u65e5\u672c\u3088\u308a\u3082\u901f\u3044\u30b9\u30d4\u30fc\u30c9\u3067 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/1141\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">ECB\u306e\u91cf\u7684\u7de9\u548c\u306f\u3044\u3064\u7d42\u4e86\u3059\u308b\u306e\u304b\uff1f: \u30e6\u30fc\u30ed\u570f\u5931\u696d\u7387\u3001CPI\u3001GDP\u30c7\u30d5\u30ec\u30fc\u30bf\u30fc<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,2],"tags":[17,26,76,77,80,7],"class_list":["post-1141","post","type-post","status-publish","format-standard","hentry","category-german-stocks","category-stocks","tag-ecb","tag-unemployment-rate","tag-fraport-xetra-fra","tag-cpi","tag-eurozone","tag-quantitative-easing"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/1141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/comments?post=1141"}],"version-history":[{"count":10,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/1141\/revisions"}],"predecessor-version":[{"id":1154,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/1141\/revisions\/1154"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=1141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=1141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=1141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}