{"id":46115,"date":"2026-04-30T22:28:49","date_gmt":"2026-04-30T22:28:49","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/46115\/"},"modified":"2026-04-30T22:28:49","modified_gmt":"2026-04-30T22:28:49","slug":"%e9%96%a2%e4%bf%82%e7%ad%8b%e3%81%ab%e3%82%88%e3%82%8b%e3%81%a8%e3%80%81%e3%83%96%e3%83%ac%e3%83%b3%e3%83%88%e5%8e%9f%e6%b2%b9%e3%81%8c100%e3%83%89%e3%83%ab%e8%b6%85%e3%81%a7%e6%8e%a8%e7%a7%bb","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/jp-asia\/live-updates\/46115\/","title":{"rendered":"\u95a2\u4fc2\u7b4b\u306b\u3088\u308b\u3068\u3001\u30d6\u30ec\u30f3\u30c8\u539f\u6cb9\u304c100\u30c9\u30eb\u8d85\u3067\u63a8\u79fb\u3059\u308c\u3070ECB\u653f\u7b56\u62c5\u5f53\u8005\u306f6\u6708\u4ee5\u964d\u306b2\u56de\u306e\u5229\u4e0a\u3052\u3092\u691c\u8a0e"},"content":{"rendered":"

\u95a2\u4fc2\u7b4b\u304c\u30ed\u30a4\u30bf\u30fc\u306b\u8a9e\u3063\u305f\u3068\u3053\u308d\u306b\u3088\u308b\u3068\u3001\u6b27\u5dde\u4e2d\u592e\u9280\u884c\uff08ECB\uff09\u306f\u4eca\u5e74\u3001\u5c11\u306a\u304f\u3068\u30822\u56de\u306e\u5229\u4e0a\u3052\uff08\u653f\u7b56\u91d1\u5229\u3092\u5f15\u304d\u4e0a\u3052\u308b\u3053\u3068\uff09\u3092\u884c\u3046\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3002\u6700\u521d\u306e\u5229\u4e0a\u3052\u306f\u3001\u30a4\u30e9\u30f3\u60c5\u52e2\uff08\u30a4\u30e9\u30f3\u3092\u5de1\u308b\u8ecd\u4e8b\u30fb\u5916\u4ea4\u4e0a\u306e\u5bfe\u7acb\uff09\u306b\u89e3\u6c7a\u306e\u5146\u3057\u304c\u306a\u3051\u308c\u3070\u30016\u6708\u306b\u306a\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u3044\u3046\u3002<\/p>\n

ECB\u306f4\u6708\u4f1a\u5408\u3067\u91d1\u5229\u3092\u636e\u3048\u7f6e\u3044\u305f\u3002\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u306e\u4e0a\u6607\u3092\u53d7\u3051\u3066\u3001\u91d1\u878d\u5f15\u304d\u7de0\u3081\uff08\u30a4\u30f3\u30d5\u30ec\u3092\u6291\u3048\u308b\u305f\u3081\u306b\u91d1\u5229\u3092\u4e0a\u3052\u3001\u8cc7\u91d1\u306e\u6d41\u308c\u3092\u6291\u3048\u308b\u653f\u7b56\uff09\u306b\u3064\u3044\u3066\u8b70\u8ad6\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u793a\u5506\u3057\u305f\u3002<\/p>\n

Policy Signals And June Timing<\/h3>\n

\u533f\u540d\u306e\u95a2\u4fc2\u7b4b\u306f\u3001\u822a\u8def\u3084\u8f38\u9001\u306e\u6df7\u4e71\u304c\u7d9a\u304d\u3001\u30d6\u30ec\u30f3\u30c8\u539f\u6cb9\u306e\u30b9\u30dd\u30c3\u30c8\u4fa1\u683c\uff08\u73fe\u7269\u53d6\u5f15\u306e\u4fa1\u683c\uff09\u304c1\u30d0\u30ec\u30eb=100\u30c9\u30eb\u3092\u4e0a\u56de\u3063\u3066\u63a8\u79fb\u3059\u308b\u5834\u5408\u30016\u6708\u306b\u52d5\u304f\u3068\u898b\u8fbc\u3080\u3068\u8ff0\u3079\u305f\u3002\u30e9\u30ac\u30eb\u30c9\u7dcf\u88c1\u306f\u5229\u4e0a\u3052\u306b\u3064\u3044\u3066\u9577\u6642\u9593\u306e\u8b70\u8ad6\u304c\u3042\u3063\u305f\u3068\u3057\u3001\u5225\u306e\u95a2\u4fc2\u8005\u306f4\u6708\u3067\u306f\u306a\u304f6\u6708\u304c\u691c\u8a0e\u3055\u308c\u3066\u3044\u308b\u3068\u8a9e\u3063\u305f\u3002<\/p>\n

\u5225\u306e\u95a2\u4fc2\u7b4b\u306f\u3001\u4eca\u5f8c\u306e\u5229\u4e0a\u3052\u306f\u7c73\u56fd\u3068\u30a4\u30e9\u30f3\u306e\u5bfe\u7acb\u306e\u9032\u5c55\u6b21\u7b2c\u3060\u3068\u8ff0\u3079\u305f\u3002\u307e\u305f\u3001\u7dca\u5f35\u7de9\u548c\uff08\u5bfe\u7acb\u306e\u6c88\u9759\u5316\uff09\u306b\u3088\u308a\u539f\u6cb9\u4fa1\u683c\u304c\u4e0b\u304c\u308a\u3001\u30e6\u30fc\u30ed\u570f\uff08\u30e6\u30fc\u30ed\u3092\u4f7f\u3046\u56fd\u306e\u96c6\u307e\u308a\uff09\u306e\u666f\u6c17\u898b\u901a\u3057\u304c\u6539\u5584\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u4ed8\u3051\u52a0\u3048\u305f\u3002<\/p>\n

Market Focus Shifts To Cuts<\/h3>\n

\u8db3\u5143\u3067\u306f\u30d6\u30ec\u30f3\u30c8\u539f\u6cb9\u306f1\u30d0\u30ec\u30eb=78\u30c9\u30eb\u524d\u5f8c\u3067\u63a8\u79fb\u3057\u3066\u304a\u308a\u3001\u6628\u5e74\u306e\u5371\u6a5f\u7684\u6c34\u6e96\u304b\u3089\u5927\u304d\u304f\u4f4e\u4e0b\u3057\u3066\u3044\u308b\u3002\u6b27\u5dde\u7d71\u8a08\u5c40\uff08\u30e6\u30fc\u30ed\u30b9\u30bf\u30c3\u30c8\uff09\u304c\u516c\u8868\u3057\u305f\u6700\u65b0\u30c7\u30fc\u30bf\u3067\u306f\u3001\u30e6\u30fc\u30ed\u570f\u306e\u7dcf\u5408\u30a4\u30f3\u30d5\u30ec\u7387\uff08\u7269\u4fa1\u4e0a\u6607\u7387\u306e\u4ee3\u8868\u6307\u6a19\uff09\u304c3.1%\u307e\u3067\u920d\u5316\u3057\u30012025\u5e74\u521d\u306e7%\u8d85\u304b\u3089\u4f4e\u4e0b\u3057\u305f\u3002ECB\u306e\u4e3b\u8981\u91d1\u5229\uff08\u653f\u7b56\u91d1\u5229\u306e\u4e2d\u5fc3\u3068\u306a\u308b\u77ed\u671f\u91d1\u5229\uff09\u306f\u6628\u5e746\u6708\u4ee5\u964d4.75%\u3067\u636e\u3048\u7f6e\u304b\u308c\u3066\u304a\u308a\u3001\u5e02\u5834\u306f\u5229\u4e0a\u3052\u3067\u306f\u306a\u304f\u5229\u4e0b\u3052\uff08\u653f\u7b56\u91d1\u5229\u3092\u5f15\u304d\u4e0b\u3052\u308b\u3053\u3068\uff09\u306e\u6642\u671f\u306b\u6ce8\u76ee\u3057\u3066\u3044\u308b\u3002<\/p>\n

\u3053\u306e\u5909\u5316\u3092\u8e0f\u307e\u3048\u308b\u3068\u3001\u5411\u3053\u3046\u6570\u30ab\u6708\u306fECB\u304c\u30cf\u30c8\u6d3e\uff08\u666f\u6c17\u3078\u306e\u914d\u616e\u3092\u512a\u5148\u3057\u3001\u5229\u4e0b\u3052\u306b\u524d\u5411\u304d\u306a\u59ff\u52e2\uff09\u306b\u50be\u304f\u53ef\u80fd\u6027\u3092\u610f\u8b58\u3057\u305f\u30dd\u30b8\u30b7\u30e7\u30f3\u304c\u691c\u8a0e\u3055\u308c\u308b\u3002\u91d1\u5229\u30b9\u30ef\u30c3\u30d7\uff08\u56fa\u5b9a\u91d1\u5229\u3068\u5909\u52d5\u91d1\u5229\u306e\u652f\u6255\u3044\u3092\u4ea4\u63db\u3059\u308b\u53d6\u5f15\u3067\u3001\u91d1\u5229\u4f4e\u4e0b\u3067\u5229\u76ca\u304c\u51fa\u3084\u3059\u3044\uff09\u306a\u3069\u3001\u91d1\u5229\u4f4e\u4e0b\u3067\u5229\u76ca\u304c\u51fa\u3084\u3059\u3044\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\uff08\u91d1\u878d\u6d3e\u751f\u5546\u54c1\uff09\u306e\u9b45\u529b\u304c\u9ad8\u307e\u3063\u3066\u3044\u308b\u3002\u7126\u70b9\u306f\u300c\u3069\u3053\u307e\u3067\u91d1\u5229\u304c\u4e0a\u304c\u308b\u304b\u300d\u3067\u306f\u306a\u304f\u3001\u300c\u6700\u521d\u306e0.25%\uff0825bp\uff1d\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\u3002\u91d1\u5229\u306e\u5358\u4f4d\u30670.01%\u304c1bp\uff09\u306e\u5229\u4e0b\u3052\u304c\u3044\u3064\u5b9f\u65bd\u3055\u308c\u308b\u304b\u300d\u306b\u79fb\u3063\u3066\u3044\u308b\u3002<\/p>\n

\u50b5\u5238\u5e02\u5834\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff08\u4fa1\u683c\u5909\u52d5\u306e\u5927\u304d\u3055\uff09\u306f\u91cd\u8981\u306a\u8981\u56e0\u3060\u3002\u30a4\u30f3\u30d5\u30ec\u920d\u5316\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u5229\u4e0b\u3052\u6642\u671f\u306f\u4e0d\u900f\u660e\u306a\u307e\u307e\u3067\u3042\u308b\u3002\u30b5\u30fc\u30d3\u30b9\u4fa1\u683c\u306e\u30a4\u30f3\u30d5\u30ec\u304c\u7c98\u7740\u7684\uff08\u4e0b\u304c\u308a\u306b\u304f\u3044\uff09\u3068\u3057\u3066\u3001ECB\u304c\u60f3\u5b9a\u3088\u308a\u9577\u304f\u7de9\u548c\uff08\u5229\u4e0b\u3052\uff09\u306b\u8e0f\u307f\u5207\u3089\u306a\u3044\u30ea\u30b9\u30af\u306b\u5099\u3048\u308b\u52d5\u304d\u304c\u3042\u308a\u3001\u30c9\u30a4\u30c4\u56fd\u50b5\u5148\u7269\uff08\u30d6\u30f3\u30c8\u5148\u7269\uff09\u306b\u304b\u304b\u308b\u30aa\u30d7\u30b7\u30e7\u30f3\uff08\u5c06\u6765\u3001\u6c7a\u3081\u305f\u4fa1\u683c\u3067\u58f2\u8cb7\u3067\u304d\u308b\u6a29\u5229\uff09\u306e\u4fa1\u683c\u304c\u4e0a\u6607\u3057\u3066\u3044\u308b\u3002\u5358\u306b\u91d1\u5229\u4f4e\u4e0b\u3092\u898b\u8fbc\u3080\u3060\u3051\u3067\u306a\u304f\u3001\u3053\u306e\u4e0d\u78ba\u5b9f\u6027\u3092\u5229\u7528\u3059\u308b\u6226\u7565\u304c\u6709\u52b9\u3068\u306a\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/p>\n

\u3053\u306e\u74b0\u5883\u306f\u30e6\u30fc\u30ed\u306b\u3082\u5f71\u97ff\u3057\u3066\u304a\u308a\u3001\u5229\u4e0b\u3052\u89b3\u6e2c\u306e\u5f37\u307e\u308a\u3092\u80cc\u666f\u306b\u30e6\u30fc\u30ed\u306f\u5bfe\u30c9\u30eb\u3067\u5f31\u542b\u3093\u3067\u3044\u308b\u3002EUR\/USD\uff08\u30e6\u30fc\u30ed\/\u7c73\u30c9\u30eb\uff09\u306e\u4e0b\u843d\u306b\u5099\u3048\u308b\u3001\u307e\u305f\u306f\u4e0b\u843d\u3092\u898b\u8fbc\u3080\u30aa\u30d7\u30b7\u30e7\u30f3\u306b\u5999\u5473\u304c\u51fa\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u6700\u5927\u306e\u30ea\u30b9\u30af\u306f\u3001\u5730\u653f\u5b66\u7684\u7dca\u5f35\uff08\u56fd\u969b\u653f\u6cbb\u30fb\u8ecd\u4e8b\u30ea\u30b9\u30af\uff09\u306e\u518d\u71c3\u3084\u3001\u4e88\u60f3\u5916\u306b\u5f37\u3044\u30a4\u30f3\u30d5\u30ec\u6307\u6a19\u3067\u3001ECB\u306e\u653f\u7b56\u8ee2\u63db\uff08\u5229\u4e0b\u3052\u3078\u306e\u52d5\u304d\uff09\u304c\u9045\u308c\u308b\u3053\u3068\u3060\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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