{"id":2636,"date":"2016-03-11T08:47:52","date_gmt":"2016-03-10T23:47:52","guid":{"rendered":"http:\/\/www.globalmacroresearch.org\/jp\/?p=2636"},"modified":"2016-03-20T17:57:36","modified_gmt":"2016-03-20T08:57:36","slug":"ecb%e3%81%8c%e5%88%a9%e4%b8%8b%e3%81%92%e3%80%81%e9%87%8f%e7%9a%84%e7%b7%a9%e5%92%8c%e6%8b%a1%e5%a4%a7-%e8%bf%bd%e5%8a%a0%e7%b7%a9%e5%92%8c%e5%be%8c%e3%81%ae%e4%b8%96%e7%95%8c%e3%81%ae%e9%87%91","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/2636","title":{"rendered":"ECB\u304c\u5229\u4e0b\u3052\u3001\u91cf\u7684\u7de9\u548c\u62e1\u5927: 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href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/2412\">\u91d1\u878d\u5e02\u5834\u306b\u96b7\u5c5e\u3059\u308b\u4e2d\u9280: \u30de\u30a4\u30ca\u30b9\u91d1\u5229\u306b\u8e0f\u307f\u8fbc\u3093\u3060\u65e5\u9280\u306e\u8ffd\u52a0\u7de9\u548c\u304c\u793a\u3059\u682a\u5f0f\u5e02\u5834\u306e\u5148\u884c\u304d<\/a><\/li>\n<li><a 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>\u672c\u7a3f\u3067\u306f\u4eca\u56de\u306e\u8ffd\u52a0\u7de9\u548c\u306e\u8a73\u7d30\u3068\u305d\u306e\u5f8c\u306e\u5e02\u5834\u306e\u52d5\u304d\u3092\u4fef\u77b0\u3057\u305f\u3046\u3048\u3067\u3001\u305d\u308c\u3089\u304c2016\u5e74\u306e\u76f8\u5834\u306b\u5bfe\u3057\u3066\u6301\u3064\u610f\u5473\u3092\u8003\u3048\u3066\u3086\u304d\u305f\u3044\u3002<\/p>\n<p><!--more--><strong>\u8ffd\u52a0\u7de9\u548c\u306e\u5185\u5bb9<\/strong><\/p>\n<p>\u5148\u305a\u3001\u4eca\u56de\u306eECB\u306e\u6c7a\u5b9a\u306f\u6587\u53e5\u306a\u3057\u306e\u6e80\u984d\u56de\u7b54\u3067\u3042\u3063\u305f\u3002\u8ffd\u52a0\u7de9\u548c\u306e\u5185\u5bb9\u306f\u4ee5\u4e0b\u306e\u901a\u308a\u3067\u3042\u308b\u3002<\/p>\n<ul>\n<li>\u9650\u754c\u8cb8\u51fa\u91d1\u5229\u30920.30%\u304b\u30890.25%\u3078\u5f15\u304d\u4e0b\u3052<\/li>\n<li>\u30ea\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u91d1\u5229\u30920.05%\u304b\u30890.00%\u3078\u5f15\u304d\u4e0b\u3052<\/li>\n<li>\u4e2d\u9280\u9810\u91d1\u91d1\u5229\u3092-0.30%\u304b\u3089-0.40%\u3078\u5f15\u304d\u4e0b\u3052<\/li>\n<li>\u91cf\u7684\u7de9\u548c\u306e\u8cc7\u7523\u8cb7\u3044\u5165\u308c\u898f\u6a21\u3092\u6708\u9593600\u5104\u30e6\u30fc\u30ed\u304b\u3089800\u5104\u30e6\u30fc\u30ed\u3078\u5897\u984d<\/li>\n<li>\u671f\u95934\u5e74\u306eTLTRO\uff08\u7684\u3092\u7d5e\u3063\u305f\u9577\u671f\u8cc7\u91d1\u4f9b\u7d66\u30aa\u30da\uff09\u30924\u56de\u5b9f\u65bd<\/li>\n<li>\u6295\u8cc7\u9069\u683c\u7d1a\u975e\u91d1\u878d\u6a5f\u95a2\u306e\u50b5\u5238\u3082\u8cb7\u3044\u5165\u308c\u5bfe\u8c61\u306b\u8ffd\u52a0<\/li>\n<\/ul>\n<p>\u3053\u306e\u4e2d\u3067\u4e3b\u306a\u3082\u306e\u306f\u30de\u30a4\u30ca\u30b9\u91d1\u5229\u306e0.10%\u306e\u5229\u4e0b\u3052\u3068\u91cf\u7684\u7de9\u548c\u306e\u62e1\u5927\u3067\u3042\u308b\u30022015\u5e74\u524d\u534a\u307e\u3067\u306e\u91cf\u7684\u7de9\u548c\u76f8\u5834\u3067\u3042\u308c\u3070\u3001\u5e02\u5834\u306f\u5927\u3044\u306b\u597d\u611f\u3057\u305f\u306f\u305a\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u5b9f\u969b\u306e\u53cd\u5fdc\u306f\u3069\u3046\u3067\u3042\u3063\u305f\u304b\uff1f\u3000\u9806\u306b\u30c1\u30e3\u30fc\u30c8\u3092\u898b\u3066\u3086\u304d\u305f\u3044\u3002<\/p>\n<p><strong>\u30e6\u30fc\u30ed\u30c9\u30eb<\/strong><\/p>\n<p>\u8ffd\u52a0\u7de9\u548c\u767a\u8868\u5f53\u521d\u3001\u30e6\u30fc\u30ed\u30c9\u30eb\u306f\u8ffd\u52a0\u7de9\u548c\u3092\u7d20\u76f4\u306b\u597d\u611f\u3057\u3001\u30e6\u30fc\u30ed\u5b89\u65b9\u5411\u3067\u63a8\u79fb\u3057\u3066\u3044\u305f\u3002\u4ee5\u4e0b\u306e\u30c1\u30e3\u30fc\u30c8\u306e\u4e0b\u9aed\u90e8\u5206\u3092\u898b\u308b\u3068\u3001\u4e00\u66421.10\u304b\u30891.08\u8fd1\u304f\u307e\u30672%\u307b\u3069\u4e0b\u843d\u3057\u3066\u3044\u305f\u3053\u3068\u304c\u5206\u304b\u308b\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-eurusd-chart.png\" rel=\"attachment wp-att-2639\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2639\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-eurusd-chart.png\" alt=\"2016-3-10-eurusd-chart\" width=\"599\" height=\"403\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-eurusd-chart.png 599w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-eurusd-chart-300x202.png 300w\" sizes=\"auto, (max-width: 599px) 100vw, 599px\" \/><\/a><\/p>\n<p>\u3057\u304b\u3057\u30e6\u30fc\u30ed\u30c9\u30eb\u306f\u7d50\u5c40\u4e0b\u843d\u5e45\u3092\u53d6\u308a\u623b\u3057\u30011.10\u304b\u30892%\u5f31\u30e6\u30fc\u30ed\u9ad8\u65b9\u5411\u306e1.12\u8fd1\u3044\u6c34\u6e96\u3067\u63a8\u79fb\u3057\u3066\u3044\u308b\u3002\u3067\u306f\u305d\u306e\u5f8c\u4f55\u304c\u8d77\u3053\u3063\u305f\u306e\u304b\uff1f<\/p>\n<p>\u306f\u3063\u304d\u308a\u3068\u8a00\u3063\u3066\u3057\u307e\u3048\u3070\u6c7a\u5b9a\u7684\u306a\u4f55\u304b\u304c\u3042\u3063\u305f\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u30bf\u30a4\u30df\u30f3\u30b0\u3068\u3057\u3066\u306f\u3001\u30c9\u30e9\u30ae\u7dcf\u88c1\u304c\u3053\u308c\u4ee5\u4e0a\u306e\u5229\u4e0b\u3052\u306f\u60f3\u5b9a\u3057\u3066\u3044\u306a\u3044\u3068\u8ff0\u3079\u305f\u5f8c\u306b\u30e6\u30fc\u30ed\u306f\u53cd\u767a\u3092\u59cb\u3081\u305f\u304c\u3001\u305d\u306e\u767a\u8a00\u81ea\u4f53\u306f\u5358\u306a\u308b\u304d\u3063\u304b\u3051\u3067\u3042\u308a\u3001\u672c\u5f53\u306e\u539f\u56e0\u306f\u5e02\u5834\u304c\u91d1\u878d\u653f\u7b56\u306e\u9650\u754c\u3092\u611f\u3058\u3066\u3044\u308b\u3053\u3068\u3060\u308d\u3046\u3002<\/p>\n<p>\u65e5\u9280\u306e\u30de\u30a4\u30ca\u30b9\u91d1\u5229\u306e\u6642\u306b\u3082\u8a00\u3063\u305f\u304c\u3001\u4e2d\u9280\u306f\u3053\u306e\u7a0b\u5ea6\u306e\u5e02\u5834\u306e\u6df7\u4e71\u3067\u8ffd\u52a0\u7de9\u548c\u3092\u4f7f\u3046\u3079\u304d\u3067\u306f\u306a\u304b\u3063\u305f\u306e\u3067\u3042\u308b\u3002\u91cf\u7684\u7de9\u548c\u30d0\u30d6\u30eb\u306e\u5d29\u58ca\u306f\u307e\u3060\u59cb\u307e\u3063\u3066\u3082\u304a\u3089\u305a\u3001\u73fe\u5728\u306e\u4e16\u754c\u540c\u6642\u682a\u5b89\u306f\u30d0\u30d6\u30eb\u5d29\u58ca\u306e\u305f\u3060\u306e\u4e88\u5146\u3067\u3057\u304b\u306a\u3044\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/2219\">\u91cf\u7684\u7de9\u548c\u30d0\u30d6\u30eb\u3092\u5d29\u58ca\u3055\u305b\u308b\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30ea\u30d0\u30e9\u30f3\u30b9\u306e\u9006\u6d41<\/a><\/li>\n<\/ul>\n<p>\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001ECB\u306e\u91d1\u878d\u7de9\u548c\u306f\u307b\u3068\u3093\u3069\u9650\u754c\u307e\u3067\u6765\u3066\u3044\u308b\u3002\u91cf\u7684\u7de9\u548c\u306e\u898f\u6a21\u306f\u65e2\u306b\u62e1\u5927\u3055\u308c\u3001\u30de\u30a4\u30ca\u30b9\u91d1\u5229\u3082-0.40%\u3068\u3001\u9810\u91d1\u6d41\u51fa\u306e\u53ef\u80fd\u6027\u3092\u8003\u3048\u308c\u3070\u3053\u308c\u4ee5\u4e0a\u306e\u7de9\u548c\u4f59\u5730\u306f\u3042\u307e\u308a\u6b8b\u3055\u308c\u3066\u3044\u306a\u3044\u3002<\/p>\n<p>\u3067\u306f\u3053\u306e\u72b6\u6cc1\u3067\u91cf\u7684\u7de9\u548c\u30d0\u30d6\u30eb\u304c\u5d29\u58ca\u3059\u308c\u3070\u3069\u3046\u3059\u308b\u306e\u304b\uff1f\u3000\u3053\u306e\u6642\u70b9\u3067\u4e0b\u843d\u4f59\u5730\u304c\u4e00\u756a\u5927\u304d\u3044\u306e\u306f\u3001\u91cf\u7684\u7de9\u548c\u3092\u518d\u958b\u3067\u304d\u308b\u7c73\u56fd\u306e\u30c9\u30eb\u3067\u3042\u308a\u3001\u305d\u306e\u70b9\u3092\u8003\u616e\u3059\u308c\u3070\u30c9\u30eb\u306b\u5bfe\u3059\u308b\u30e6\u30fc\u30ed\u9ad8\u306f\u3082\u3046\u9032\u307f\u3088\u3046\u304c\u306a\u3044\u306e\u3067\u3042\u308b\u3002\u3053\u308c\u306f\u30c9\u30eb\u5186\u306b\u95a2\u3059\u308b\u8a18\u4e8b\u3067\u3082\u8a00\u53ca\u3057\u305f\u3002\u4e2d\u9280\u306e\u624b\u8a70\u307e\u308a\u304c\u672c\u5f53\u306e\u539f\u56e0\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/2624\">2016\u5e74\u30c9\u30eb\u5186\u306e\u63a8\u79fb\u4e88\u60f3: \u4e0b\u843d\u306f\u5186\u9ad8\u3067\u306f\u306a\u304f\u30c9\u30eb\u5b89\u304c\u539f\u56e0\u3001\u305d\u3057\u3066\u30c9\u30eb\u306e\u898b\u901a\u3057\u306f\u6697\u3044<\/a><\/li>\n<\/ul>\n<p><strong>\u30c9\u30a4\u30c4\u682a<\/strong><\/p>\n<p>\u30e6\u30fc\u30ed\u9ad8\u306b\u547c\u5fdc\u3059\u308b\u3088\u3046\u306b\u30c9\u30a4\u30c4\u682a\u3082\u4e0b\u843d\u3057\u3066\u3044\u308b\u3002\u30e6\u30fc\u30ed\u540c\u69d8\u3001\u4e00\u65e6\u597d\u611f\u3057\u3066\u304b\u3089\u306e\u53cd\u8ee2\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-dax-chart.png\" rel=\"attachment wp-att-2641\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2641\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-dax-chart.png\" alt=\"2016-3-10-dax-chart\" width=\"599\" height=\"403\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-dax-chart.png 599w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-dax-chart-300x202.png 300w\" sizes=\"auto, (max-width: 599px) 100vw, 599px\" \/><\/a><\/p>\n<p><strong>\u7c73\u56fd\u682a<\/strong><\/p>\n<p>\u4e00\u65b9\u3067\u7c73\u56fd\u306eS&amp;P 500\u3082\u4f3c\u305f\u53cd\u5fdc\u3067\u306f\u3042\u308b\u304c\u3001\u4e0b\u3052\u5e45\u306f\u7e2e\u5c0f\u3057\u3066\u3044\u308b\u3002\u30e6\u30fc\u30ed\u306b\u5bfe\u3059\u308b\u30c9\u30eb\u5b89\u304c\u30d7\u30e9\u30b9\u306e\u5f71\u97ff\u3092\u4e0e\u3048\u305f\u306e\u304b\u3082\u3057\u308c\u306a\u3044\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-s-and-p-500-chart.png\" rel=\"attachment wp-att-2642\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2642\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-s-and-p-500-chart.png\" alt=\"2016-3-10-s-and-p-500-chart\" width=\"599\" height=\"403\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-s-and-p-500-chart.png 599w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-s-and-p-500-chart-300x202.png 300w\" sizes=\"auto, (max-width: 599px) 100vw, 599px\" \/><\/a><\/p>\n<p><strong>\u539f\u6cb9<\/strong><\/p>\n<p>\u539f\u6cb9\u306f\u307b\u307c\u5909\u308f\u3089\u305a\u3067\u3001\u77ed\u4e2d\u671f\u7684\u306a\u9ad8\u5024\u570f\u3092\u7dad\u6301\u3057\u3066\u3044\u308b\u3002\u3057\u305f\u304c\u3063\u3066\u7c73\u56fd\u682a\u306e\u76f8\u5bfe\u7684\u306a\u5805\u8abf\u306f\u539f\u6cb9\u4fa1\u683c\u304c\u5f71\u97ff\u3057\u305f\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u30e6\u30fc\u30ed\u306b\u5bfe\u3059\u308b\u30c9\u30eb\u5b89\u3060\u308d\u3046\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-WTI-crude-oil-chart.png\" rel=\"attachment wp-att-2643\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2643\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-WTI-crude-oil-chart.png\" alt=\"2016-3-10-WTI-crude-oil-chart\" width=\"599\" height=\"403\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-WTI-crude-oil-chart.png 599w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-WTI-crude-oil-chart-300x202.png 300w\" sizes=\"auto, (max-width: 599px) 100vw, 599px\" \/><\/a><\/p>\n<p><strong>\u91d1<\/strong><\/p>\n<p>\u4e00\u65b9\u3067\u3001\u540c\u3058\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u3067\u3082\u91d1\u4fa1\u683c\u306f\u4e0a\u6607\u3057\u305f\u3002\u4e2d\u671f\u7684\u306a\u9ad8\u5024\u3092\u66f4\u65b0\u3057\u305d\u3046\u306a\u52e2\u3044\u3067\u3042\u308a\u3001\u4e2d\u9280\u306e\u91d1\u878d\u7de9\u548c\u306e\u52b9\u679c\u304c\u8584\u304f\u3001\u9577\u671f\u306e\u7de9\u548c\u3092\u5f37\u3044\u3089\u308c\u308b\u3068\u306e\u601d\u60d1\u304c\u6295\u8cc7\u5bb6\u306e\u8cb7\u3044\u3092\u8a98\u3063\u305f\u3082\u306e\u3068\u601d\u308f\u308c\u308b\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-gold-chart.png\" rel=\"attachment wp-att-2644\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2644\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-gold-chart.png\" alt=\"2016-3-10-gold-chart\" width=\"599\" height=\"403\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-gold-chart.png 599w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-gold-chart-300x202.png 300w\" sizes=\"auto, (max-width: 599px) 100vw, 599px\" \/><\/a><\/p>\n<p>\u91d1\u306b\u3064\u3044\u3066\u306f\u308f\u305f\u3057\u306f2015\u5e7412\u6708\u304b\u3089\u8cb7\u3044\u3092\u63a8\u5968\u3057\u3066\u3044\u308b\u304c\u3001\u305d\u308c\u306b\u3057\u3066\u3082\u91d1\u306e\u77ed\u671f\u7684\u306a\u5f37\u3055\u306b\u306f\u4e88\u60f3\u3092\u8d85\u3048\u308b\u3082\u306e\u304c\u3042\u308b\u3002\u5b9f\u306f\u3053\u3053\u6570\u9031\u9593\u307b\u3069\u7c73\u56fd\u306e\u9577\u671f\u91d1\u5229\u306f\u53cd\u767a\u3057\u3066\u304a\u308a\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u4eca\u56de\u306eECB\u306e\u8ffd\u52a0\u7de9\u548c\u306b\u3082\u5229\u56de\u308a\u4e0a\u6607\u3067\u53cd\u5fdc\u3057\u3066\u3044\u308b\u306e\u3060\u304c\u3001\u305d\u308c\u3067\u3082\u91d1\u4fa1\u683c\u306f\u4e0a\u6607\u3057\u3066\u3044\u308b\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-10-year-treasury-note-yield-chart.png\" rel=\"attachment wp-att-2646\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2646\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-10-year-treasury-note-yield-chart.png\" alt=\"2016-3-10-10-year-treasury-note-yield-chart\" width=\"599\" height=\"403\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-10-year-treasury-note-yield-chart.png 599w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/03\/2016-3-10-10-year-treasury-note-yield-chart-300x202.png 300w\" sizes=\"auto, (max-width: 599px) 100vw, 599px\" \/><\/a><\/p>\n<p>\u7c73\u56fd\u306e\u9577\u671f\u91d1\u5229\u306e\u4e0a\u6607\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u5024\u4e0a\u304c\u308a\u3059\u308b\u91d1\u306f\u3001\u6295\u8cc7\u5bb6\u304c\u9ad8\u3044\u5229\u56de\u308a\u3092\u653e\u68c4\u3057\u3066\u3067\u3082\u30c9\u30eb\u3088\u308a\u91d1\u3092\u6301\u3061\u305f\u3044\u3068\u8003\u3048\u3066\u3044\u308b\u3053\u3068\u3092\u793a\u3057\u3066\u304a\u308a\u3001\u304b\u306a\u308a\u5f37\u3044\u4e2d\u592e\u9280\u884c\u3078\u306e\u4e0d\u4fe1\u3068\u91d1\u3078\u306e\u9700\u8981\u3092\u6697\u793a\u3059\u308b\u52d5\u304d\u3067\u3042\u308b\u3002<\/p>\n<p>\u500b\u4eba\u7684\u306b\u306f\u91d1\u306f\u9577\u671f\u6295\u8cc7\u3067\u3042\u308b\u306e\u3067\u77ed\u671f\u7684\u306a\u5024\u52d5\u304d\u306f\u3042\u307e\u308a\u6c17\u306b\u3057\u306a\u3044\u304c\u3001\u3053\u308c\u3089\u306e\u52d5\u304d\u306f\u30dd\u30b8\u30c6\u30a3\u30d6\u306b\u6349\u3048\u3066\u3044\u308b\u3002\u7c73\u56fd\u306e\u9577\u671f\u91d1\u5229\u304c\u4e0a\u6607\u3059\u308b\u5c40\u9762\u3067\u306f\u8abf\u6574\u304c\u3042\u3063\u3066\u3082\u826f\u3044\u3068\u8003\u3048\u3066\u3044\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/2561\">2016\u5e74\u3001\u30ea\u30b9\u30af\u30aa\u30d5\u3067\u91d1\u304c\u8cb7\u308f\u308c\u308b\u672c\u5f53\u306e\u7406\u7531: \u91d1\u4fa1\u683c\u306f2,000\u30c9\u30eb\u3092\u76ee\u6307\u3059\u3068\u306e\u63a8\u79fb\u4e88\u60f3\u306f\u6b63\u3057\u3044\u304b\uff1f<\/a><\/li>\n<\/ul>\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n<p>\u4ee5\u4e0a\u3001ECB\u306e\u8ffd\u52a0\u7de9\u548c\u3068\u5e02\u5834\u306e\u53cd\u5fdc\u3092\u4fef\u77b0\u3057\u305f\u304c\u3001\u8aad\u8005\u3082\u8584\u3005\u6c17\u4ed8\u3044\u3066\u3044\u308b\u901a\u308a\u3001\u308f\u305f\u3057\u306f\u4e2d\u592e\u9280\u884c\u306e\u52d5\u5411\u3092\u3082\u306f\u3084\u307b\u3068\u3093\u3069\u6c17\u306b\u3057\u3066\u3044\u306a\u3044\u3002\u4eca\u56de\u306e\u53cd\u5fdc\u3092\u898b\u308b\u306b\u3001\u4ed6\u306e\u6295\u8cc7\u5bb6\u305f\u3061\u3082\u540c\u3058\u3088\u3046\u306a\u6c17\u5206\u306a\u306e\u3060\u308d\u3046\u3002\u305d\u3082\u305d\u3082\u4e2d\u9280\u7dcf\u88c1\u305f\u3061\u304c\u4e16\u754c\u7d4c\u6e08\u306e\u73fe\u72b6\u3092\u4f55\u4e00\u3064\u7406\u89e3\u3057\u3066\u3044\u306a\u3044\u3088\u3046\u306a\u73fe\u72b6\u3067\u306f\u3001\u4f55\u3092\u3057\u3088\u3046\u304c\u7121\u99c4\u3068\u3044\u3046\u3082\u306e\u3067\u3042\u308b\u3002<\/p>\n<p>\u5f7c\u3089\u304c\u4e16\u754c\u540c\u6642\u682a\u5b89\u306e\u672c\u5f53\u306e\u610f\u5473\u306b\u6c17\u4ed8\u304f\u77ac\u9593\u306f\u6765\u308b\u306e\u3060\u308d\u3046\u304b\uff1f\u3000\u4e16\u754c\u7d4c\u6e08\u306b\u306f\u307e\u3060\u53d6\u308b\u3053\u3068\u306e\u51fa\u6765\u308b\u5bfe\u7b56\u304c\u6b8b\u3055\u308c\u3066\u3044\u308b\u304c\u3001\u4e2d\u9280\u3082\u653f\u5e9c\u3082\u3001\u305d\u3053\u306b\u8fbf\u308a\u7740\u304f\u307e\u3067\u306b\u306f\u307e\u3060\u6642\u9593\u304c\u304b\u304b\u308b\u306e\u3060\u308d\u3046\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/2502\">2016\u5e74\u4e16\u754c\u540c\u6642\u682a\u5b89\u306e\u672c\u5f53\u306e\u539f\u56e0\u306f\u91cf\u7684\u7de9\u548c\u3067\u3082\u7c73\u56fd\u5229\u4e0a\u3052\u3067\u3082\u4e2d\u56fd\u30d0\u30d6\u30eb\u5d29\u58ca\u3067\u3082\u306a\u3044<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>3\u670810\u65e5\u3001ECB\uff08\u6b27\u5dde\u4e2d\u592e\u9280\u884c\uff09\u306f\u653f\u7b56\u6c7a\u5b9a\u4f1a\u5408\u3092\u884c\u3044\u3001\u30de\u30a4\u30ca\u30b9\u91d1\u5229\u306e\u66f4\u306a\u308b\u5229\u4e0b\u3052\u3068\u91cf\u7684\u7de9\u548c\u62e1\u5927\u306e\u8ffd\u52a0\u7de9\u548c\u3092\u767a\u8868\u3057\u305f\u3002\u5e02\u5834\u4e88\u60f3\u3082\u4e0a\u56de\u308b\u6e80\u984d\u56de\u7b54\u306e\u7de9\u548c\u30d7\u30e9\u30f3\u3060\u3063\u305f\u306e\u3060\u304c\u3001\u5e02\u5834\u306e\u53cd\u5fdc\u306f\u30e6\u30fc\u30ed\u304c\u53cd\u767a\u3001\u6b27\u5dde\u682a\u306f\u4e0b\u843d\u3068\u3044\u3046\u30cd\u30ac\u30c6\u30a3 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/2636\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">ECB\u304c\u5229\u4e0b\u3052\u3001\u91cf\u7684\u7de9\u548c\u62e1\u5927: \u8ffd\u52a0\u7de9\u548c\u5f8c\u306e\u4e16\u754c\u306e\u91d1\u878d\u5e02\u5834\u306e\u30c1\u30e3\u30fc\u30c8<\/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":[30,111,19,15],"tags":[7,17,100],"class_list":["post-2636","post","type-post","status-publish","format-standard","hentry","category-european-stock-market","category-stock-markets","category-foreign-exchange-market","category-news","tag-quantitative-easing","tag-ecb","tag-negative-interest-rates"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/2636","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=2636"}],"version-history":[{"count":7,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/2636\/revisions"}],"predecessor-version":[{"id":2649,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/2636\/revisions\/2649"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=2636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=2636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=2636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}