{"id":2066,"date":"2015-12-05T19:23:20","date_gmt":"2015-12-05T10:23:20","guid":{"rendered":"http:\/\/www.globalmacroresearch.org\/jp\/?p=2066"},"modified":"2015-12-05T19:23:20","modified_gmt":"2015-12-05T10:23:20","slug":"ecb%e3%81%ae%e9%87%8f%e7%9a%84%e7%b7%a9%e5%92%8c%e5%bb%b6%e9%95%b7%e3%81%a7%e3%83%a6%e3%83%bc%e3%83%ad%e5%9c%8f%e3%83%9e%e3%83%8d%e3%82%bf%e3%83%aa%e3%83%bc%e3%83%99%e3%83%bc%e3%82%b9%e3%81%a8","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/2066","title":{"rendered":"ECB\u306e\u91cf\u7684\u7de9\u548c\u5ef6\u9577\u3067\u30e6\u30fc\u30ed\u570f\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u3068\u70ba\u66ff\u30ec\u30fc\u30c8\u306f\u3069\u3046\u306a\u308b\u304b\uff1f"},"content":{"rendered":"<p>2015\u5e7412\u67083\u65e5\u306bECB\uff08\u6b27\u5dde\u4e2d\u592e\u9280\u884c\uff09\u304c\u5229\u4e0b\u3052\u3068\u91cf\u7684\u7de9\u548c\u306e\u671f\u9650\u5ef6\u9577\u3092\u767a\u8868\u3057\u305f\u3002\u3053\u308c\u306b\u4f34\u3046\u5e02\u5834\u306e\u53cd\u5fdc\u306a\u3069\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u306b\u65e2\u306b\u7e8f\u3081\u3066\u3042\u308b\u304c\u3001\u91d1\u878d\u653f\u7b56\u5909\u66f4\u306b\u4f34\u3044\u30e6\u30fc\u30ed\u306e\u9069\u6b63\u30ec\u30fc\u30c8\u3082\u5f53\u7136\u5909\u308f\u3063\u3066\u3044\u308b\u306e\u3067\u3001\u3053\u306e\u8a18\u4e8b\u3067\u306f\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u3068\u305d\u306e\u63a8\u79fb\u3092\u63b2\u8f09\u3057\u306a\u304c\u3089\u3001\u30e6\u30fc\u30ed\u304c\u4eca\u5f8c\u3069\u3046\u306a\u3063\u3066\u3086\u304f\u304b\u3092\u8003\u3048\u3066\u307f\u305f\u3044\u3002<\/p>\n<ul>\n<li><a title=\"ECB\u304c\u5229\u4e0b\u3052\u3068\u91cf\u7684\u7de9\u548c\u5ef6\u9577\u3092\u6c7a\u5b9a\u3001\u5e02\u5834\u306e\u920d\u3044\u53cd\u5fdc\u306f\u91cf\u7684\u7de9\u548c\u76f8\u5834\u306e\u7d42\u7109\u3092\u7269\u8a9e\u308b\" href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/2052\">ECB\u304c\u5229\u4e0b\u3052\u3068\u91cf\u7684\u7de9\u548c\u5ef6\u9577\u3092\u6c7a\u5b9a\u3001\u5e02\u5834\u306e\u920d\u3044\u53cd\u5fdc\u306f\u91cf\u7684\u7de9\u548c\u76f8\u5834\u306e\u7d42\u7109\u3092\u7269\u8a9e\u308b<\/a><\/li>\n<\/ul>\n<p>\u4eca\u56de\u306e\u653f\u7b56\u6c7a\u5b9a\u3067\u306f\u9810\u91d1\u91d1\u5229\u304c-0.20%\u304b\u3089-0.30%\u3078\u3068\u5909\u66f4\u3055\u308c\u3001\u66f4\u306b\u91cf\u7684\u7de9\u548c\u306e\u671f\u9650\u304c2016\u5e749\u6708\u304b\u30892017\u5e743\u6708\u3078\u3068\u5ef6\u9577\u3055\u308c\u305f\u3002\u91cf\u7684\u7de9\u548c\u306b\u3064\u3044\u3066\u306f\u5fc5\u8981\u304c\u3042\u308c\u3070\u5ef6\u9577\u3059\u308b\u3068\u660e\u8a00\u3057\u3066\u3044\u305f\u306e\u3067\u3001\u4eca\u56de\u306f\u305d\u308c\u3092\u516c\u5f0f\u306b\u8a8d\u3081\u305f\u3060\u3051\u3067\u306f\u3042\u308b\u306e\u3060\u304c\u3001\u534a\u5e74\u306e\u5ef6\u9577\u304c\u3069\u308c\u3060\u3051\u70ba\u66ff\u306b\u52b9\u679c\u3092\u6301\u3064\u306e\u304b\u3001\u305d\u3057\u3066\u4eca\u5f8c\u66f4\u306b\u5ef6\u9577\u3055\u308c\u308c\u3070\u3069\u3046\u306a\u3063\u3066\u3086\u304f\u306e\u304b\u3092\u898b\u3066\u307f\u305f\u3044\u3002<\/p>\n<p><!--more--><strong>\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u306f\u3069\u3046\u306a\u308b\u304b\uff1f<\/strong><\/p>\n<p>\u6bd4\u8f03\u5bfe\u8c61\u306e\u901a\u8ca8\u306f\u30c9\u30eb\u3068\u3057\u3066\u3001\u30e6\u30fc\u30ed\u30c9\u30eb\u3068\u7c73\u6b27\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u6bd4\u7387\u306e\u63a8\u79fb\u3092\u898b\u3066\u3086\u304f\u3053\u3068\u3068\u3059\u308b\u3002\u65e5\u672c\u306e\u6295\u8cc7\u5bb6\u306e\u591a\u304f\u306f\u30e6\u30fc\u30ed\u5186\u3067\u898b\u3066\u3044\u308b\u306e\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3001\u5186\u5b89\u3068\u30e6\u30fc\u30ed\u5b89\u304c\u6df7\u3056\u3063\u3066\u73fe\u72b6\u304c\u3088\u304f\u5206\u304b\u3089\u306a\u304f\u306a\u308b\u306e\u3067\u3001\u91d1\u878d\u653f\u7b56\u304c\u6bd4\u8f03\u7684\u5b89\u5b9a\u3057\u3066\u3044\u308b\u901a\u8ca8\u3068\u6bd4\u3079\u308b\u306e\u304c\u3088\u3044\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/12\/2015-10-us-euro-zone-monetary-base-ratio-and-eur-usd-exchange-rate.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2069\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/12\/2015-10-us-euro-zone-monetary-base-ratio-and-eur-usd-exchange-rate.png\" alt=\"2015-10-us-euro-zone-monetary-base-ratio-and-eur-usd-exchange-rate\" width=\"538\" height=\"347\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/12\/2015-10-us-euro-zone-monetary-base-ratio-and-eur-usd-exchange-rate.png 538w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/12\/2015-10-us-euro-zone-monetary-base-ratio-and-eur-usd-exchange-rate-300x193.png 300w\" sizes=\"auto, (max-width: 538px) 100vw, 538px\" \/><\/a><\/p>\n<p>ECB\u306e\u767a\u8868\u3057\u3066\u3044\u308b\u30c7\u30fc\u30bf\u306b\u3088\u308c\u3070\u30012015\u5e7410\u6708\u73fe\u5728\u306e\u30e6\u30fc\u30ed\u570f\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u306f\u7d041\u51466700\u5104\u30e6\u30fc\u30ed\u3067\u3042\u308a\u3001ECB\u306f\u6bce\u6708600\u5104\u30e6\u30fc\u30ed\u306e\u50b5\u5238\u3092\u8cb7\u3044\u5165\u308c\u308b\u3068\u3057\u3066\u3044\u308b\u306e\u3067\u3001\u5ef6\u9577\u3055\u308c\u305f\u671f\u9650\u3067\u3042\u308b2017\u5e743\u6708\u307e\u3067\u306b\u306f\u3001\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u306e\u898f\u6a21\u306f\u7d042\u51466900\u5104\u30e6\u30fc\u30ed\u306b\u307e\u3067\u62e1\u5927\u3055\u308c\u308b\u3053\u3068\u3068\u306a\u308b\u3002<\/p>\n<p>\u305d\u3046\u306a\u308c\u3070\u3001\u7c73\u6b27\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u306e\u6bd4\u7387\uff081\u30e6\u30fc\u30ed\u3042\u305f\u308a\u306e\u30c9\u30eb\u767a\u884c\u6570\uff09\u306f2015\u5e7410\u6708\u306e$2.45\u304b\u3089$1.52\u3001\u3064\u307e\u308a\u4e0a\u8a18\u306e\u30c1\u30e3\u30fc\u30c8\u3067\u8a00\u3046\u3068\u3053\u308d\u306e2012\u5e74\u306e\u5e95\u5024\u4ed8\u8fd1\u306b\u307e\u3067\u4e0b\u304c\u308b\u3053\u3068\u3068\u306a\u308b\u3002<\/p>\n<p><strong>\u30e6\u30fc\u30ed\u306b\u304b\u304b\u308b\u4e0b\u843d\u5727\u529b<\/strong><\/p>\n<p>\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u3060\u3051\u3092\u898b\u308c\u3070\u30012012\u5e74\u306b\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u6bd4\u7387\u304c1.5\u4ed8\u8fd1\u306e\u3068\u304d\u306b\u306f\u30e6\u30fc\u30ed\u30c9\u30eb\u306f\u20ac1.25\u524d\u5f8c\u3060\u3063\u305f\u3068\u8a00\u3048\u308b\u304c\u3001\u9577\u671f\u7684\u306b\u306f\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u6bd4\u7387\u306f\u53f3\u80a9\u4e0a\u304c\u308a\u3001\u30e6\u30fc\u30ed\u30c9\u30eb\u306f\u53f3\u80a9\u4e0b\u304c\u308a\u306e\u30c1\u30e3\u30fc\u30c8\u306b\u306a\u3063\u3066\u304a\u308a\u3001\u3053\u306e\u30e6\u30fc\u30ed\u306e\u4e0b\u843d\u50be\u5411\u3092\u3069\u3046\u898b\u308b\u304b\u3067\u3042\u308b\u3002<\/p>\n<p>\u30e6\u30fc\u30ed\u304c\u4e0b\u843d\u50be\u5411\u306b\u3042\u308b\u539f\u56e0\u306f\u3001\u5148\u305a\u306f\u7c73\u56fd\u3068\u30e6\u30fc\u30ed\u570f\u306e\u7d4c\u6e08\u6210\u9577\u7387\u306e\u9055\u3044\u3067\u3042\u308a\u3001\u305d\u3057\u3066\u6700\u8fd1\u9855\u8457\u306b\u306a\u3063\u3066\u304d\u305f\u306e\u304c\u91d1\u5229\u306e\u5dee\u3067\u3042\u308b\u3002\u30ae\u30ea\u30b7\u30e3\u3084\u30a2\u30a4\u30eb\u30e9\u30f3\u30c9\u306a\u3069\u306e\u6b27\u5dde\u50b5\u52d9\u5371\u6a5f\u4ee5\u6765\u3001\u30e6\u30fc\u30ed\u570f\u7d4c\u6e08\u306f\u56de\u5fa9\u3057\u3066\u304a\u3089\u305a\u3001\u91cf\u7684\u7de9\u548c\u3082\u7d9a\u3044\u3066\u3044\u308b\u305f\u3081\u4f4e\u91d1\u5229\u3067\u3042\u308a\u3001\u3053\u308c\u3089\u304c\u30e6\u30fc\u30ed\u306b\u60aa\u5f71\u97ff\u3092\u53ca\u307c\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n<p>\u91d1\u5229\u306a\u3069\u306e\u8981\u7d20\u304c\u30c9\u30eb\u5186\u3088\u308a\u3082\u30e6\u30fc\u30ed\u30c9\u30eb\u306b\u9855\u8457\u306b\u5f71\u97ff\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u70b9\u306a\u3069\u3082\u8aac\u660e\u304c\u5fc5\u8981\u306a\u306e\u3060\u304c\u3001Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u304c\u5229\u4e0a\u3052\u306b\u3053\u3060\u308f\u308a\u7d9a\u3051\u308b\u9650\u308a\u3001\u91d1\u5229\u5dee\u306b\u3064\u3044\u3066\u306f\u5f53\u5206\u5909\u308f\u3089\u306a\u3044\u3068\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002<\/p>\n<ul>\n<li><a title=\"\u7c73\u56fd\u304c\u5229\u4e0a\u3052\u3092\u6025\u3050\u7406\u7531: \u30d0\u30d6\u30eb\u5d29\u58ca\u5f8c\u306e\u76f8\u5834\u306b\u5411\u3051\u305f\u5229\u4e0a\u3052\u7af6\u4e89\u306f\u3082\u3046\u59cb\u307e\u3063\u3066\u3044\u308b\" href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/1384\">\u7c73\u56fd\u304c\u5229\u4e0a\u3052\u3092\u6025\u3050\u7406\u7531: \u30d0\u30d6\u30eb\u5d29\u58ca\u5f8c\u306e\u76f8\u5834\u306b\u5411\u3051\u305f\u5229\u4e0a\u3052\u7af6\u4e89\u306f\u3082\u3046\u59cb\u307e\u3063\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n<p>\u3057\u305f\u304c\u3063\u3066\u3001\u30e6\u30fc\u30ed\u30c9\u30eb\u306e\u9069\u6b63\u30ec\u30fc\u30c8\u7b97\u51fa\u306e\u305f\u3081\u306b\u306f\u3001\u305d\u306e\u7406\u7531\u3092\u8a73\u3057\u304f\u8003\u3048\u305a\u3068\u3082\u50be\u5411\u3092\u305d\u306e\u307e\u307e\u5c06\u6765\u306e\u4e88\u6e2c\u306b\u5f53\u3066\u306f\u3081\u308c\u3070\u826f\u3044\u3060\u308d\u3046\u3002<\/p>\n<p><strong>\u30e6\u30fc\u30ed\u30c9\u30eb\u306e\u9069\u6b63\u30ec\u30fc\u30c8<\/strong><\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/12\/2015-10-us-euro-zone-monetary-base-ratio-and-eur-usd-exchange-rate.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2069\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/12\/2015-10-us-euro-zone-monetary-base-ratio-and-eur-usd-exchange-rate.png\" alt=\"2015-10-us-euro-zone-monetary-base-ratio-and-eur-usd-exchange-rate\" width=\"538\" height=\"347\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/12\/2015-10-us-euro-zone-monetary-base-ratio-and-eur-usd-exchange-rate.png 538w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2015\/12\/2015-10-us-euro-zone-monetary-base-ratio-and-eur-usd-exchange-rate-300x193.png 300w\" sizes=\"auto, (max-width: 538px) 100vw, 538px\" \/><\/a><\/p>\n<p>\u91cd\u8981\u3067\u3042\u308b\u306e\u306f\u3001\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u6bd4\u7387\u304c\u53f3\u80a9\u4e0a\u304c\u308a\u3092\u7dad\u6301\u305b\u305a\u30012017\u5e74\u307e\u3067\u306b\u306f\u30b0\u30e9\u30d5\u306e\u30e1\u30e2\u30ea1\u3064\u5206\u307b\u3069\u5f93\u6765\u306e\u30c8\u30ec\u30f3\u30c9\u3088\u308a\u4e0b\u304c\u308b\u3068\u3044\u3046\u70b9\u3067\u3042\u308b\u3002\u30e6\u30fc\u30ed\u5b89\u306e\u50be\u5411\u3092\u8003\u3048\u308c\u3070\u3001\u30e6\u30fc\u30ed\u30c9\u30eb\u306f\u672c\u67652012\u5e74\u3088\u308a\u3082\u30e1\u30e2\u30ea1\u3064\u4e0b\u304c\u3063\u305f\u8fba\u308a\u3001\u3064\u307e\u308a\u20ac1.10-1.15\u3042\u305f\u308a\u3092\u63a8\u79fb\u3059\u308b\u306f\u305a\u3067\u3042\u308b\u304c\u3001\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u304c\u66f4\u306b\u30e1\u30e2\u30ea1\u3064\u5206\u4e0b\u304c\u308b\u305f\u3081\u3001\u305d\u308c\u3092\u8003\u616e\u3059\u308c\u3070\u3001\u30e6\u30fc\u30ed\u30c9\u30eb\u306e\u9069\u6b63\u30ec\u30fc\u30c8\u306f$1\u3042\u305f\u308a\u20ac1\u3001\u3064\u307e\u308a\u30d1\u30ea\u30c6\u30a3\u6c34\u6e96\u307e\u3067\u4e0b\u304c\u308b\u3060\u308d\u3046\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n<p>\u5927\u96d1\u628a\u3067\u306f\u3042\u308b\u304c\u3001\u3053\u308c\u304c\u30e6\u30fc\u30ed\u30c9\u30eb\u306e2017\u5e743\u6708\u307e\u3067\u306e\u4e88\u6e2c\u3067\u3042\u308a\u3001\u91cf\u7684\u7de9\u548c\u304c\u66f4\u306b\u5ef6\u9577\u3055\u308c\u308c\u3070\u3001\u30e6\u30fc\u30ed\u30c9\u30eb\u306e\u7406\u8ad6\u5024\u306f\u66f4\u306b\u4e0b\u304c\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n<p>\u3057\u304b\u3057\u306a\u304c\u3089\u3001\u305d\u306e\u9803\u307e\u3067\u306b\u306f\u7c73\u56fd\u306e\u5229\u4e0a\u3052\u3082\u9650\u754c\u306b\u8fd1\u3065\u304d\u3001\u30c9\u30eb\u9ad8\u30c8\u30ec\u30f3\u30c9\u304c\u7d42\u7109\u3092\u8fce\u3048\u3066\u3044\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u3057\u305f\u304c\u3063\u3066\u30e6\u30fc\u30ed\u58f2\u308a\u306f\u6df1\u8ffd\u3044\u3059\u3079\u304d\u3067\u306f\u306a\u304f\u3001\u7cbe\u3005\u30e6\u30fc\u30ed\u30c9\u30eb\u304c\u30d1\u30ea\u30c6\u30a3\u3068\u306a\u308b\u3042\u305f\u308a\u307e\u3067\u304c\u6f6e\u6642\u3060\u308d\u3046\u3002\u305d\u308c\u307e\u3067\u306b\u30c9\u30eb\u304c\u529b\u5c3d\u304d\u308b\u53ef\u80fd\u6027\u3082\u3042\u308b\u306e\u3067\u3001\u500b\u4eba\u7684\u306b\u306f\u30e6\u30fc\u30ed\u3092\u58f2\u3063\u3066\u3044\u306a\u3044\u3002\u30c9\u30eb\u3068\u7c73\u56fd\u7d4c\u6e08\u306e\u5c06\u6765\u306b\u3064\u3044\u3066\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u306b\u8a73\u3057\u3044\u3002<\/p>\n<ul>\n<li><a title=\"2015\u5e743Q\u7c73\u56fdGDP\u901f\u5831\u5185\u8a33: \u3084\u3084\u6e1b\u901f\u3001\u30c9\u30eb\u9ad8\u304c\u53cd\u8ee2\u3059\u308b\u53ef\u80fd\u6027\u304c\u898b\u3048\u3066\u304d\u305f\u304b\" href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/1915\">2015\u5e743Q\u7c73\u56fdGDP\u901f\u5831\u5185\u8a33: \u3084\u3084\u6e1b\u901f\u3001\u30c9\u30eb\u9ad8\u304c\u53cd\u8ee2\u3059\u308b\u53ef\u80fd\u6027\u304c\u898b\u3048\u3066\u304d\u305f\u304b<\/a><\/li>\n<\/ul>\n<p>\u3057\u304b\u3057\u3001\u305d\u308c\u3067\u3082\u30e6\u30fc\u30ed\u3092\u58f2\u308a\u305f\u3051\u308c\u3070\u3001\u30e6\u30fc\u30ed\u5efa\u3066\u3067\u91d1\u3092\u8cb7\u3046\uff08\u3064\u307e\u308a\u91d1\u3092\u8cb7\u3063\u3066\u305d\u306e\u5206\u30e6\u30fc\u30ed\u3092\u58f2\u308b\uff09\u3068\u3044\u3046\u9078\u629e\u80a2\u3082\u3042\u308b\u3002<\/p>\n<p>\u91d1\u306f\u3053\u3053\u6570\u5e74\u3067\u66b4\u843d\u3057\u3066\u3044\u308b\u304c\u3001\u500b\u4eba\u7684\u306b\u306f2016\u5e74\u304b\u3001\u3042\u308b\u3044\u306f2017\u5e74\u306e\u521d\u3081\u3042\u305f\u308a\u304c\u91d1\u306e\u5e95\u5024\u3068\u306a\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3068\u898b\u3066\u3044\u308b\u3002\u91d1\u306f\u91cf\u7684\u7de9\u548c\u30d0\u30d6\u30eb\u306e\u5d29\u58ca\u3092\u9003\u308c\u3089\u308c\u308b\u6570\u5c11\u306a\u3044\u624b\u6bb5\u3067\u3042\u308a\u3001\u91d1\u3092\u8cb7\u3046\u30bf\u30a4\u30df\u30f3\u30b0\u304c\u5411\u3053\u3046\u6570\u5e74\u306e\u6295\u8cc7\u5bb6\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u6c7a\u3081\u308b\u3060\u308d\u3046\u3002<\/p>\n<ul>\n<li><a title=\"\u91d1\u306f\u3044\u3064\u8cb7\u3046\u3079\u304d\u304b\uff1f: 2015\u5e74\u4ee5\u964d\u306e\u91d1\u878d\u5e02\u5834\u66b4\u843d\u3092\u9003\u308c\u308b\u305f\u3081\u306b\" href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/1012\">\u91d1\u306f\u3044\u3064\u8cb7\u3046\u3079\u304d\u304b\uff1f: 2015\u5e74\u4ee5\u964d\u306e\u91d1\u878d\u5e02\u5834\u66b4\u843d\u3092\u9003\u308c\u308b\u305f\u3081\u306b<\/a><\/li>\n<\/ul>\n<p>\u901a\u8ca8\u5b89\u3092\u72d9\u3046\u30e6\u30fc\u30ed\u570f\u3068\u65e5\u672c\u3001\u5f37\u3044\u7d4c\u6e08\u3092\u80cc\u666f\u306b\u30c9\u30eb\u9ad8\u3092\u662f\u8a8d\u3059\u308b\u7c73\u56fd\u3068\u3044\u3046\u69cb\u56f3\u306f\u3001\u3042\u30681\u5e74\u307b\u3069\u3057\u304b\u6301\u305f\u306a\u3044\u3060\u308d\u3046\u3002\u30d7\u30e9\u30b6\u5408\u610f\u306e\u3068\u304d\u306e\u3088\u3046\u306b\u3001\u7c73\u56fd\u304c\u30c9\u30eb\u9ad8\u306b\u8010\u3048\u3089\u308c\u306a\u304f\u306a\u308b\u77ac\u9593\u304c\u6765\u308b\u30021987\u5e74\u3001\u5404\u56fd\u306e\u4e2d\u592e\u9280\u884c\u304c\u5354\u8abf\u3067\u304d\u306a\u304f\u306a\u3063\u305f\u3068\u304d\u306b\u30d6\u30e9\u30c3\u30af\u30de\u30f3\u30c7\u30fc\u304c\u8d77\u304d\u305f\u3068\u3044\u3046\u3053\u3068\u3092\u3001\u6295\u8cc7\u5bb6\u306f\u4eca\u4e00\u5ea6\u601d\u3044\u51fa\u3057\u3066\u304a\u304f\u3079\u304d\u3060\u308d\u3046\u3002<\/p>\n<ul>\n<li><a title=\"\u30d7\u30e9\u30b6\u5408\u610f\u304b\u3089\u30d6\u30e9\u30c3\u30af\u30de\u30f3\u30c7\u30fc\u307e\u3067\u3092\u632f\u308a\u8fd4\u308b\" href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/933\">\u30d7\u30e9\u30b6\u5408\u610f\u304b\u3089\u30d6\u30e9\u30c3\u30af\u30de\u30f3\u30c7\u30fc\u307e\u3067\u3092\u632f\u308a\u8fd4\u308b<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>2015\u5e7412\u67083\u65e5\u306bECB\uff08\u6b27\u5dde\u4e2d\u592e\u9280\u884c\uff09\u304c\u5229\u4e0b\u3052\u3068\u91cf\u7684\u7de9\u548c\u306e\u671f\u9650\u5ef6\u9577\u3092\u767a\u8868\u3057\u305f\u3002\u3053\u308c\u306b\u4f34\u3046\u5e02\u5834\u306e\u53cd\u5fdc\u306a\u3069\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u306b\u65e2\u306b\u7e8f\u3081\u3066\u3042\u308b\u304c\u3001\u91d1\u878d\u653f\u7b56\u5909\u66f4\u306b\u4f34\u3044\u30e6\u30fc\u30ed\u306e\u9069\u6b63\u30ec\u30fc\u30c8\u3082\u5f53\u7136\u5909\u308f\u3063\u3066\u3044\u308b\u306e\u3067\u3001\u3053\u306e\u8a18\u4e8b\u3067\u306f\u30de\u30cd\u30bf\u30ea &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/2066\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">ECB\u306e\u91cf\u7684\u7de9\u548c\u5ef6\u9577\u3067\u30e6\u30fc\u30ed\u570f\u30de\u30cd\u30bf\u30ea\u30fc\u30d9\u30fc\u30b9\u3068\u70ba\u66ff\u30ec\u30fc\u30c8\u306f\u3069\u3046\u306a\u308b\u304b\uff1f<\/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":[19],"tags":[7,17,20],"class_list":["post-2066","post","type-post","status-publish","format-standard","hentry","category-foreign-exchange-market","tag-quantitative-easing","tag-ecb","tag-monetary-base"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/2066","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=2066"}],"version-history":[{"count":14,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/2066\/revisions"}],"predecessor-version":[{"id":2081,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/2066\/revisions\/2081"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=2066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=2066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=2066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}