{"id":44549,"date":"2026-04-13T03:58:26","date_gmt":"2026-04-13T03:58:26","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/44549\/"},"modified":"2026-04-13T03:58:26","modified_gmt":"2026-04-13T03:58:26","slug":"%e4%b8%ad%e5%9b%bd%e4%ba%ba%e6%b0%91%e9%8a%80%e8%a1%8c%ef%bc%88pboc%ef%bc%89%e3%80%81%e3%83%89%e3%83%ab%ef%bc%8f%e4%ba%ba%e6%b0%91%e5%85%83%e3%81%ae%e5%9f%ba%e6%ba%96%e5%80%a4%e3%82%926-8657%e3%81%ab","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/jp-asia\/live-updates\/44549\/","title":{"rendered":"\u4e2d\u56fd\u4eba\u6c11\u9280\u884c\uff08PBOC\uff09\u3001\u30c9\u30eb\uff0f\u4eba\u6c11\u5143\u306e\u57fa\u6e96\u5024\u30926.8657\u306b\u8a2d\u5b9a\u3000\u524d\u56de\u306e6.8654\u304b\u3089\u4e0a\u6607\u3001\u30ed\u30a4\u30bf\u30fc\u4e88\u60f3\uff086.8395\uff09\u4e0a\u56de\u308b"},"content":{"rendered":"

\u4e2d\u56fd\u4eba\u6c11\u9280\u884c\uff08PBOC\uff09\u306f\u6708\u66dc\u65e5\u306e\u7c73\u30c9\u30eb\uff0f\u4eba\u6c11\u5143\uff08USD\/CNY\uff09\u57fa\u6e96\u5024\uff08\u6bce\u55b6\u696d\u65e5\u306b\u5f53\u5c40\u304c\u793a\u3059\u4e2d\u5fc3\u30ec\u30fc\u30c8\uff09\u30926.8657\u306b\u8a2d\u5b9a\u3057\u305f\u3002\u3053\u308c\u306f\u91d1\u66dc\u65e5\u306e6.8654\u3001\u30ed\u30a4\u30bf\u30fc\u4e88\u60f3\u306e6.8395\u3068\u6bd4\u3079\u3084\u3084\u9ad8\u3044\uff08\u4eba\u6c11\u5143\u5b89\u65b9\u5411\uff09\u3002<\/p>\n

PBOC\u306e\u91d1\u878d\u653f\u7b56\u306e\u4e3b\u306a\u76ee\u7684\u306f\u3001\u7269\u4fa1\u306e\u5b89\u5b9a\uff08\u70ba\u66ff\u306e\u5b89\u5b9a\u3092\u542b\u3080\uff09\u3068\u7d4c\u6e08\u6210\u9577\u306e\u652f\u63f4\u3060\u3002\u3042\u308f\u305b\u3066\u3001\u4e2d\u56fd\u306e\u91d1\u878d\u5e02\u5834\u306e\u958b\u653e\u30fb\u767a\u5c55\u306a\u3069\u91d1\u878d\u6539\u9769\u3082\u9032\u3081\u3066\u3044\u308b\u3002<\/p>\n

Pboc Governance And Independence<\/h3>\n

PBOC\u306f\u4e2d\u83ef\u4eba\u6c11\u5171\u548c\u56fd\u306e\u56fd\u6709\u3067\u3001\u72ec\u7acb\u6027\u306e\u9ad8\u3044\u7d44\u7e54\u3067\u306f\u306a\u3044\u3002\u56fd\u52d9\u9662\u7dcf\u7406\u304c\u6307\u540d\u3057\u305f\u4e2d\u56fd\u5171\u7523\u515a\u306e\u515a\u59d4\u54e1\u4f1a\u66f8\u8a18\u304c\u904b\u55b6\u65b9\u91dd\u306b\u5927\u304d\u306a\u5f71\u97ff\u3092\u6301\u3061\u3001\u6f58\u529f\u52dd\u6c0f\u304c\u305d\u306e\u5f79\u8077\u3068\u7dcf\u88c1\u8077\u3092\u517c\u4efb\u3057\u3066\u3044\u308b\u3002<\/p>\n

PBOC\u306f\u30017\u65e5\u7269\u30ea\u30d0\u30fc\u30b9\u30ec\u30dd\u91d1\u5229\uff08\u77ed\u671f\u306e\u8cc7\u91d1\u4f9b\u7d66\u3067\u4f7f\u3046\u653f\u7b56\u91d1\u5229\u306e\u4e00\u3064\uff09\u3001\u4e2d\u671f\u8cb8\u51fa\u5236\u5ea6\uff08MLF\uff1a\u91d1\u878d\u6a5f\u95a2\u306b\u4e2d\u671f\u8cc7\u91d1\u3092\u4f9b\u7d66\u3059\u308b\u67a0\u7d44\u307f\uff09\u3001\u70ba\u66ff\u4ecb\u5165\uff08\u5916\u8ca8\u306e\u58f2\u8cb7\u3067\u76f8\u5834\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u624b\u6bb5\uff09\u3001\u9810\u91d1\u6e96\u5099\u7387\uff08RRR\uff1a\u9280\u884c\u306b\u7fa9\u52d9\u4ed8\u3051\u308b\u9810\u91d1\u306e\u7a4d\u7acb\u6bd4\u7387\uff09\u3068\u3044\u3063\u305f\u624b\u6bb5\u3092\u4f7f\u3046\u3002\u4e2d\u56fd\u306e\u4e8b\u5b9f\u4e0a\u306e\u57fa\u6e96\u91d1\u5229\u306f\u30ed\u30fc\u30f3\u30d7\u30e9\u30a4\u30e0\u30ec\u30fc\u30c8\uff08LPR\uff1a\u512a\u826f\u4f01\u696d\u5411\u3051\u8cb8\u51fa\u91d1\u5229\u3092\u57fa\u306b\u3057\u305f\u6307\u6a19\uff09\u3067\u3001\u878d\u8cc7\u91d1\u5229\u3084\u4f4f\u5b85\u30ed\u30fc\u30f3\u91d1\u5229\u3001\u9810\u91d1\u91d1\u5229\u306b\u5f71\u97ff\u3057\u3001\u4eba\u6c11\u5143\u76f8\u5834\u306b\u3082\u6ce2\u53ca\u3057\u5f97\u308b\u3002<\/p>\n

\u4e2d\u56fd\u306b\u306f\u6c11\u55b6\u9280\u884c\u304c19\u884c\u3042\u308a\u3001\u91d1\u878d\u30b7\u30b9\u30c6\u30e0\u5168\u4f53\u306b\u5360\u3081\u308b\u6bd4\u7387\u306f\u5c0f\u3055\u3044\u3002\u6700\u5927\u624b\u306fWeBank\u3068MYbank\u3067\u30012014\u5e74\u306b\u306f\u6c11\u9593\u8cc7\u672c\u306e\u307f\u3067\u904b\u55b6\u3059\u308b\u8cb8\u3057\u624b\u304c\u3001\u56fd\u4e3b\u5c0e\u306e\u91d1\u878d\u30bb\u30af\u30bf\u30fc\u3067\u55b6\u696d\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u3063\u305f\u3002<\/p>\n

PBOC\u304c\u5e02\u5834\u4e88\u60f3\u3088\u308a\u5f37\u3044\u6c34\u6e96\u306bUSD\/CNY\u306e\u57fa\u6e96\u5024\u3092\u8a2d\u5b9a\u3057\u305f\u3053\u3068\u306f\u3001\u901a\u8ca8\u306e\u5b89\u5b9a\u3092\u91cd\u8996\u3057\u3066\u3044\u308b\u59ff\u52e2\u3092\u793a\u3059\u3002\u524d\u65e5\u304b\u3089\u308f\u305a\u304b\u306b\u4eba\u6c11\u5143\u5b89\u65b9\u5411\u306e\u8a2d\u5b9a\u3067\u3082\u3001\u3053\u306e\u63aa\u7f6e\u306f\u4eba\u6c11\u5143\u306e\u5927\u5e45\u306a\u4e0b\u843d\u3092\u6291\u3048\u305f\u3044\u610f\u56f3\u304c\u3046\u304b\u304c\u3048\u308b\u3002\u5e02\u5834\u53c2\u52a0\u8005\u306b\u3068\u3063\u3066\u306f\u3001\u5f53\u5c40\u304c\u70ba\u66ff\u3092\u7a4d\u6975\u7684\u306b\u7ba1\u7406\u3057\u3066\u304a\u308a\u3001\u6025\u843d\u3092\u5bb9\u8a8d\u3057\u3066\u3044\u306a\u3044\u30b7\u30b0\u30ca\u30eb\u3068\u306a\u308b\u3002<\/p>\n

Market Implications And Trading Approach<\/h3>\n

\u3053\u306e\u300c\u5f53\u5c40\u4e3b\u5c0e\u300d\u306e\u59ff\u52e2\u306f\u3001\u76f4\u8fd1\u306e\u7d4c\u6e08\u6307\u6a19\u3092\u8e0f\u307e\u3048\u308b\u3068\u6ce8\u76ee\u306b\u5024\u3059\u308b\u30022026\u5e741\u301c3\u6708\u671f\uff08Q1\uff09\u306e\u4e2d\u56fdGDP\u6210\u9577\u7387\u306f4.8%\u3068\u3001\u653f\u5e9c\u76ee\u6a19\u306e5%\u3092\u308f\u305a\u304b\u306b\u4e0b\u56de\u308a\u30013\u6708\u306e\u8f38\u51fa\u306f\u524d\u5e74\u540c\u6708\u6bd4\u30672.5%\u6e1b\u3068\u4e88\u60f3\u5916\u306b\u843d\u3061\u8fbc\u3093\u3060\u3002PBOC\u306e\u52d5\u304d\u306f\u3001\u8f38\u51fa\u652f\u63f4\u306e\u305f\u3081\u306e\u901a\u8ca8\u5b89\u3088\u308a\u3082\u3001\u91d1\u878d\u306e\u5b89\u5b9a\u3092\u512a\u5148\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u793a\u5506\u3059\u308b\u3002<\/p>\n

\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\uff08\u91d1\u878d\u6d3e\u751f\u5546\u54c1\uff1a\u539f\u8cc7\u7523\u306e\u4fa1\u683c\u306b\u9023\u52d5\u3059\u308b\u53d6\u5f15\uff09\u3067\u306f\u3001\u4eca\u5f8c\u6570\u9031\u9593\u306f\u300c\u5909\u52d5\u7387\uff08\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff1a\u4fa1\u683c\u306e\u632f\u308c\u306e\u5927\u304d\u3055\uff09\u300d\u304c\u4f4e\u4e0b\u3057\u3084\u3059\u3044\u3068\u306e\u898b\u65b9\u306b\u3064\u306a\u304c\u308b\u3002\u4e2d\u9280\u304c\u70ba\u66ff\u306e\u5b89\u5b9a\u3092\u91cd\u8996\u3059\u308c\u3070\u3001USD\/CNY\u306e\u5927\u304d\u306a\u5909\u52d5\u304c\u6291\u3048\u3089\u308c\u3084\u3059\u3044\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u4eba\u6c11\u5143\u95a2\u9023\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u30b7\u30e7\u30fc\u30c8\u30fb\u30b9\u30c8\u30e9\u30c9\u30eb\uff08\u30b3\u30fc\u30eb\u3068\u30d7\u30c3\u30c8\u3092\u540c\u6761\u4ef6\u3067\u58f2\u308b\u6226\u7565\u3002\u76f8\u5834\u304c\u5927\u304d\u304f\u52d5\u304b\u306a\u3044\u307b\u3069\u6709\u5229\uff09\u306a\u3069\u3001\u30ec\u30f3\u30b8\u76f8\u5834\u3092\u524d\u63d0\u3068\u3059\u308b\u6226\u7565\u304c\u691c\u8a0e\u5bfe\u8c61\u3068\u306a\u308b\u3002<\/p>\n

2025\u5e74\u3092\u901a\u3058\u3066\u89b3\u5bdf\u3055\u308c\u305f\u7de9\u3084\u304b\u306a\u4eba\u6c11\u5143\u5b89\u3068\u6bd4\u3079\u308b\u3068\u3001\u8db3\u5143\u306e\u653f\u7b56\u306f\u3088\u308a\u5f37\u3044\u59ff\u52e2\u306b\u898b\u3048\u308b\u3002\u5f53\u6642\u306f\u666f\u6c17\u4e0b\u652f\u3048\u306e\u305f\u3081\u3001\u3058\u308a\u5b89\u3092\u8a31\u5bb9\u3057\u3066\u3044\u305f\u304c\u3001\u4eca\u56de\u306e\u57fa\u6e96\u5024\u8a2d\u5b9a\u306f\u4e0b\u843d\u3078\u306e\u8a31\u5bb9\u5ea6\u304c\u4f4e\u3044\u53ef\u80fd\u6027\u3092\u793a\u3059\u3002\u80cc\u666f\u3068\u3057\u3066\u306f\u3001\u7c73\u91d1\u5229\u304c\u9ad8\u3044\u74b0\u5883\u4e0b\u3067\u306e\u8cc7\u672c\u6d41\u51fa\uff08\u6d77\u5916\u3078\u306e\u8cc7\u91d1\u79fb\u52d5\uff09\u3078\u306e\u8b66\u6212\u304c\u8003\u3048\u3089\u308c\u308b\u3002\u6628\u5e74\u306e\u6bd4\u8f03\u7684\u300c\u5e02\u5834\u306b\u4efb\u305b\u308b\u300d\u59ff\u52e2\u304b\u3089\u306e\u8ee2\u63db\u3060\u3002<\/p>\n

\u307e\u305f\u3001PBOC\u306e\u4ed6\u306e\u653f\u7b56\u624b\u6bb5\u3082\u6ce8\u8996\u3057\u305f\u3044\u3002\u6210\u9577\u3092\u652f\u3048\u308b\u305f\u3081\u91d1\u878d\u7de9\u548c\u3092\u6c42\u3081\u308b\u58f0\u304c\u3042\u308b\u4e00\u65b9\u3001LPR\u306e\u5927\u5e45\u306a\u5f15\u304d\u4e0b\u3052\u306f\u3001\u4eba\u6c11\u5143\u5b89\u5727\u529b\u3092\u5f37\u3081\u308b\u305f\u3081\u5f53\u9762\u306f\u5b9f\u65bd\u3057\u306b\u304f\u3044\u516c\u7b97\u304c\u3042\u308b\u3002\u4ee3\u308f\u308a\u306b\u3001RRR\u5f15\u304d\u4e0b\u3052\u306e\u65b9\u304c\u5b9f\u73fe\u53ef\u80fd\u6027\u306f\u9ad8\u3044\u3002RRR\u306e\u5f15\u304d\u4e0b\u3052\u306f\u5e02\u5834\u306b\u8cc7\u91d1\u3092\u4f9b\u7d66\uff08\u6d41\u52d5\u6027\u306e\u6ce8\u5165\uff09\u3057\u3084\u3059\u3044\u4e00\u65b9\u3067\u3001\u7c73\u30c9\u30eb\u3068\u306e\u91d1\u5229\u5dee\u306b\u76f4\u63a5\u5f71\u97ff\u3057\u306b\u304f\u3044\u3002<\/p>\n

\u3053\u3046\u3057\u305f\u72b6\u6cc1\u3067\u306f\u3001\u5f53\u9762\u306f\u30ec\u30f3\u30b8\u76f8\u5834\u3092\u524d\u63d0\u3068\u3057\u305f\u6226\u7565\u304c\u59a5\u5f53\u3060\u308d\u3046\u3002PBOC\u306f\u5fc3\u7406\u7684\u306a\u7bc0\u76ee\u3092\u5b88\u308d\u3046\u3068\u3057\u3066\u3044\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u3001USD\/CNY\u306f\u6982\u306d6.85\u301c6.95\u306e\u7bc4\u56f2\u306b\u53ce\u307e\u308a\u3084\u3059\u3044\u3002\u901a\u8ca8ETF\uff08\u70ba\u66ff\u306b\u9023\u52d5\u3059\u308b\u4e0a\u5834\u6295\u8cc7\u4fe1\u8a17\uff09\u3092\u4f7f\u3046\u5834\u5408\u3001\u30a2\u30a4\u30a2\u30f3\u30fb\u30b3\u30f3\u30c9\u30eb\uff08\u4e0a\u4e0b\u306e\u30ec\u30f3\u30b8\u3092\u60f3\u5b9a\u3057\u3066\u8907\u6570\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u7d44\u307f\u5408\u308f\u305b\u3001\u4e00\u5b9a\u7bc4\u56f2\u5185\u3067\u306e\u63a8\u79fb\u3067\u53ce\u76ca\u3092\u72d9\u3046\u6226\u7565\uff09\u306a\u3069\u3067\u3001\u3053\u306e\u7ba1\u7406\u3055\u308c\u305f\u5b89\u5b9a\u304b\u3089\u53ce\u76ca\u6a5f\u4f1a\u3092\u72d9\u3046\u624b\u3082\u3042\u308b\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u4eba\u6c11\u9280\u304cUSD\/CNY\u57fa\u6e96\u5024\u3092\u4e88\u60f3\u3088\u308a\u5143\u5b89\u306b\u8a2d\u5b9a\u3001\u6025\u843d\u963b\u6b62\u306e\u5f37\u3044\u7ba1\u7406\u30b7\u30b0\u30ca\u30eb\u3002\u6210\u9577\u920d\u5316\u30fb\u8f38\u51fa\u6e1b\u3067\u3082\u5b89\u5b9a\u512a\u5148\u3002\u30dc\u30e9\u4f4e\u4e0b\u89b3\u6e2c\u3067\u30ec\u30f3\u30b8\u6226\u7565\u6709\u5229\u3001LPR\u636e\u3048\u7f6e\u304d\u30fbRRR\u5f15\u304d\u4e0b\u3052\u6ce8\u8996\u3002<\/p>\n","protected":false},"author":116,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[40],"tags":[],"class_list":["post-44549","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/posts\/44549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/users\/116"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/comments?post=44549"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/posts\/44549\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/media?parent=44549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/categories?post=44549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/tags?post=44549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}