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\u6ce8\u76ee\u306f\u91d1\u66dc\u767a\u8868\u306e\u30dd\u30fc\u30e9\u30f3\u30c9\u306e\u30a4\u30f3\u30d5\u30ec\u6307\u6a19\u3060\u30025\u6708\u306f\u524d\u5e74\u6bd43.7%\u3068\u4e88\u60f3\u3055\u308c\u3001\u6628\u5e746\u6708\u4ee5\u6765\u306e\u9ad8\u6c34\u6e96\u3067\u3001\u30dd\u30fc\u30e9\u30f3\u30c9\u56fd\u7acb\u9280\u884c\uff08NBP\uff09\u306e\u8a31\u5bb9\u30ec\u30f3\u30b8\u3092\u4e0a\u56de\u308b\u898b\u901a\u3057\u3002\u30dd\u30fc\u30e9\u30f3\u30c9\u306e\u5b9f\u8cea\u653f\u7b56\u91d1\u5229\u306f5\u6708\u306b\u4e2d\u7acb\u6c34\u6e96\u3078\u5230\u9054\u3057\u30016\u6708\u306b\u306f\u30de\u30a4\u30ca\u30b9\u306b\u8ee2\u3058\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3002\u539f\u6cb9\u4fa1\u683c\u304c\u4e0b\u843d\u3057\u3066\u3082\u3001\u8ffd\u52a0\u5229\u4e0b\u3052\u4f59\u5730\u304c\u9650\u5b9a\u3055\u308c\u5f97\u308b\u3002\u30c1\u30a7\u30b3\u56fd\u7acb\u9280\u884c\uff08CNB\uff09\u306f\u3001\u8db3\u5143\u306e\u30a4\u30f3\u30d5\u30ec\u6307\u6a19\u304c\u843d\u3061\u7740\u304f\u4e2d\u3067\u3001\u3088\u308a\u9577\u671f\u306b\u308f\u305f\u308a\u91d1\u5229\u636e\u3048\u7f6e\u304d\u304c\u898b\u8fbc\u307e\u308c\u308b\u3002\u52a0\u3048\u3066\u3001ECB\u304c6\u6708\u306b\u5229\u4e0a\u3052\u3092\u884c\u3048\u3070\u91d1\u5229\u5dee\u304c\u7e2e\u5c0f\u3057\u3001\u30b3\u30eb\u30ca\u306b\u4e0b\u62bc\u3057\u5727\u529b\u304c\u304b\u304b\u308b\u3002<\/p>\n\n

Shifting Rate Expectations and Currency Impacts<\/h3>\n\n

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ECB\u3068\u30c1\u30a7\u30b3\u5074\u306e\u91d1\u878d\u653f\u7b56\u30b9\u30bf\u30f3\u30b9\u306e\u4e56\u96e2\u304c\u62e1\u5927\u3057\u3066\u3044\u308b\u70b9\u306b\u3082\u7559\u610f\u3057\u305f\u3044\u3002\u30e6\u30fc\u30ed\u570f\u306e\u30a4\u30f3\u30d5\u30ec\u671f\u5f85\u306f2.4%\u524d\u5f8c\u3067\u5e95\u5805\u304f\u30016\u6708\u306eECB\u5229\u4e0a\u3052\u78ba\u7387\u306f\u5e02\u5834\u30679\u5272\u8fd1\u304f\u306b\u9054\u3057\u3066\u304a\u308a\u3001\u30e6\u30fc\u30ed\u9ad8\u306e\u6839\u62e0\u306f\u5f37\u3044\u3002\u3053\u308c\u306b\u5bfe\u3057\u30c1\u30a7\u30b3\u3067\u306f4\u6708\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u304c2.9%\u306b\u920d\u5316\u3057\u3001\u4e2d\u9280\u304c\u9577\u671f\u306b\u308f\u305f\u308a\u636e\u3048\u7f6e\u304d\u3092\u7d9a\u3051\u308b\u4f59\u5730\u304c\u3042\u308b\u3002<\/p>\n\n

Polish Zloty Outperformance and Risk Management<\/h3>\n\n

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\u3082\u3063\u3068\u3082\u30012022\u5e74\u306e\u9ad8\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u5c40\u9762\u3067\u898b\u3089\u308c\u305f\u3088\u3046\u306b\u3001\u4e2d\u9280\u4ecb\u5165\u30ea\u30b9\u30af\u306b\u306f\u6ce8\u610f\u304c\u5fc5\u8981\u3060\u3002CNB\u306f\u904e\u5ea6\u306a\u30b3\u30eb\u30ca\u5b89\u3092\u9632\u3050\u305f\u3081\u6b74\u53f2\u7684\u306b\u5e02\u5834\u4ecb\u5165\u3092\u884c\u3063\u3066\u304d\u305f\u3002\u3053\u306e\u305f\u3081\u3001EUR\/CZK\u3067\u306f\u30b3\u30fc\u30eb\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u6d3b\u7528\u304c\u59a5\u5f53\u3068\u307f\u308b\u3002\u30ea\u30b9\u30af\u3092\u9650\u5b9a\u3057\u3064\u3064\u300124.50\u301c24.75\u30ec\u30f3\u30b8\u3078\u306e\u4e0a\u6607\u3092\u72d9\u3046\u30dd\u30b8\u30b7\u30e7\u30f3\u69cb\u7bc9\u304c\u53ef\u80fd\u306b\u306a\u308b\u3002<\/p>\n\n\n

\u4eca\u3059\u3050\u53d6\u5f15\u3092\u59cb\u3081\u307e\u3057\u3087\u3046 \u2014 VT Markets\u306e\u30ea\u30a2\u30eb\u53e3\u5ea7\u3092\u958b\u8a2d\u3059\u308b\u306b\u306f\u3053\u3061\u3089<\/a>\u3092\u30af\u30ea\u30c3\u30af\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/b><\/p>","protected":false},"excerpt":{"rendered":"

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