{"id":48154,"date":"2026-03-04T00:46:52","date_gmt":"2026-03-04T00:46:52","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/36198\/"},"modified":"2026-03-04T00:46:52","modified_gmt":"2026-03-04T00:46:52","slug":"%e9%87%8e%e6%9d%91%e3%81%af%e3%80%81ecb%e3%81%8c%e3%82%a8%e3%83%8d%e3%83%ab%e3%82%ae%e3%83%bc%e4%b8%bb%e5%b0%8e%e3%81%ae%e5%b8%82%e5%a0%b4%e5%a4%89%e5%8b%95%e3%82%92%e7%84%a1%e8%a6%96%e3%81%97","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/jp-asia\/live-updates\/48154\/","title":{"rendered":"\u91ce\u6751\u306f\u3001ECB\u304c\u30a8\u30cd\u30eb\u30ae\u30fc\u4e3b\u5c0e\u306e\u5e02\u5834\u5909\u52d5\u3092\u7121\u8996\u3057\u3001\u898b\u901a\u3057\u671f\u9593\u672b\u306eHICP\u4e88\u6e2c\u306b\u7126\u70b9\u3092\u5f53\u3066\u3001\u653f\u7b56\u3092\u636e\u3048\u7f6e\u304f\u3068\u4e88\u60f3\u3057\u305f"},"content":{"rendered":"\u91ce\u6751\u306e\u30a2\u30ca\u30ea\u30b9\u30c8\u306f\u3001\u6b27\u5dde\u4e2d\u592e\u9280\u884c\uff08ECB\uff09\u304c\u76f4\u8fd1\u306e\u30a8\u30cd\u30eb\u30ae\u30fc\u4e3b\u5c0e\u306e\u5e02\u5834\u5909\u52d5\u306b\u53cd\u5fdc\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u4e88\u6e2c\u671f\u9593\u672b\u306eHICP\u30a4\u30f3\u30d5\u30ec\u898b\u901a\u3057\u306b\u7126\u70b9\u3092\u5f53\u3066\u308b\u3068\u898b\u8fbc\u3093\u3067\u3044\u308b\u3068\u8ff0\u3079\u3066\u3044\u307e\u3057\u305f\u3002\u539f\u6cb9\u304a\u3088\u3073\u5929\u7136\u30ac\u30b9\u4fa1\u683c\u306e\u4e0a\u6607\u304c\u3001ECB\u306e\u30e6\u30fc\u30ed\u570f\u30a4\u30f3\u30d5\u30ec\u898b\u901a\u3057\u7d4c\u8def\u3092\u62bc\u3057\u4e0a\u3052\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u307e\u3057\u305f\u3002\n\n\u307e\u305f\u30011\u6708\u306eHICP\u30a4\u30f3\u30d5\u30ec\u304cECB\u306e\u60f3\u5b9a\u306b\u5bfe\u3057\u3066\u4e0b\u632f\u308c\u30b5\u30d7\u30e9\u30a4\u30ba\u3068\u306a\u3063\u305f\u3053\u3068\u304c\u3001\u9ad8\u3044\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u306b\u3088\u308b\u898b\u901a\u3057\u62bc\u3057\u4e0a\u3052\u3092\u4e00\u90e8\u76f8\u6bba\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u6307\u6458\u3057\u3066\u3044\u307e\u3057\u305f\u3002\u3055\u3089\u306b\u3001ECB\u306e12\u6708\u306e\u4e88\u6e2c\u3068\u3057\u3066\u3001\u30e6\u30fc\u30ed\u570fHICP\u30a4\u30f3\u30d5\u30ec\u304c2026\u5e74Q3\u304b\u30892027\u5e74Q4\u306b\u304b\u3051\u3066\u76ee\u6a19\u3092\u4e0b\u56de\u308b\u898b\u901a\u3057\u3067\u3042\u3063\u305f\u3053\u3068\u306b\u3082\u8a00\u53ca\u3057\u3066\u3044\u307e\u3057\u305f\u3002\n\n

ECB Expected Rate Path<\/h3>\n\u5f7c\u3089\u306f\u3001ECB\u304c2026\u5e74\u304a\u3088\u30732027\u5e74\u306b\u91d1\u5229\u3092\u636e\u3048\u7f6e\u304f\u3068\u4e88\u60f3\u3057\u3066\u3044\u307e\u3057\u305f\u3002\u5f7c\u3089\u306e\u898b\u7acb\u3066\u3067\u306f\u3001HICP\u30a4\u30f3\u30d5\u30ec\u30922028\u5e74\u306b\u76ee\u6a19\u4ed8\u8fd1\u306b\u7dad\u6301\u3059\u308b\u305f\u3081\u306e\u5229\u4e0a\u3052\u306f\u30012028\u5e74\u306b\u5165\u3063\u3066\u304b\u3089\u306e\u307f\u5b9f\u65bd\u3055\u308c\u308b\u898b\u8fbc\u307f\u3067\u3057\u305f\u3002\n\n\u307e\u305f\u3001\u7c73\u56fd\uff0f\u30a4\u30b9\u30e9\u30a8\u30eb\u3068\u30a4\u30e9\u30f3\u306e\u5bfe\u7acb\u304c\u3001\u539f\u6cb9\u30fb\u30ac\u30b9\u4fa1\u683c\u3078\u306e\u5f71\u97ff\u3092\u901a\u3058\u305f\u77ed\u671f\u7684\u30ea\u30b9\u30af\u3067\u3042\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u3092\u62bc\u3057\u4e0a\u3052\u3066\u5229\u4e0a\u3052\u6642\u671f\u3092\u524d\u5012\u3057\u3055\u305b\u5f97\u308b\u3068\u6307\u6458\u3057\u3066\u3044\u307e\u3057\u305f\u3002\u52a0\u3048\u3066\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u5909\u52d5\u306e\u6301\u7d9a\u6027\u304cHICP\u30a4\u30f3\u30d5\u30ec\u3078\u306e\u6ce2\u53ca\u5ea6\u5408\u3044\u306b\u5f71\u97ff\u3059\u308b\u3068\u3057\u3001\u30e6\u30fc\u30ed\u570f\u306e\u30a4\u30f3\u30d5\u30ec\u5e02\u5834\u306f\u4e00\u90e8\u5dfb\u304d\u623b\u3057\u3066\u3044\u308b\u3068\u3082\u8ff0\u3079\u3066\u3044\u307e\u3057\u305f\u3002\n\n\u79c1\u305f\u3061\u306f\u3001ECB\u304c\u5730\u653f\u5b66\u7684\u7dca\u5f35\u306b\u3088\u3063\u3066\u751f\u3058\u305f\u76f4\u8fd1\u306e\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u6025\u9a30\u3092\u4e00\u6642\u7684\u306a\u3082\u306e\u3068\u3057\u3066\u6349\u3048\u308b\u3068\u8003\u3048\u3066\u3044\u307e\u3057\u305f\u3002ECB\u306e\u4e3b\u773c\u306f\u9577\u671f\u306e\u30a4\u30f3\u30d5\u30ec\u898b\u901a\u3057\u306b\u3042\u308a\u30012025\u5e7412\u6708\u6642\u70b9\u306e\u540c\u59d4\u54e1\u4f1a\u898b\u901a\u3057\u3067\u306f\u30012026\u5e74\u5f8c\u534a\u304a\u3088\u30732027\u5e74\u306b\u30a4\u30f3\u30d5\u30ec\u304c\u76ee\u6a19\u3092\u4e0b\u56de\u308b\u3068\u793a\u3055\u308c\u3066\u3044\u307e\u3057\u305f\u3002\u30e6\u30fc\u30ed\u30b9\u30bf\u30c3\u30c8\u306e\u6700\u65b0\u306e2026\u5e742\u6708\u901f\u5831\u63a8\u8a08\u3067\u306f\u30b3\u30a2\u30a4\u30f3\u30d5\u30ec\u304c2.7%\u306b\u4f4e\u4e0b\u3057\u3066\u304a\u308a\u3001\u653f\u7b56\u5f53\u5c40\u306b\u306f\u69d8\u5b50\u898b\u306e\u4f59\u5730\u304c\u3042\u3063\u305f\u306e\u3067\u3057\u305f\u3002\n\n\u30c8\u30ec\u30fc\u30c0\u30fc\u306b\u3068\u3063\u3066\u306f\u3001\u77ed\u671f\u306eECB\u5229\u4e0a\u3052\u306b\u95a2\u3059\u308b\u5e02\u5834\u306e\u7e54\u308a\u8fbc\u307f\u304c\u904e\u5ea6\u306b\u5f37\u6c17\u3067\u3042\u308b\u53ef\u80fd\u6027\u3092\u793a\u5506\u3057\u3066\u3044\u307e\u3057\u305f\u3002\u3053\u308c\u306f\u3001\u30e6\u30fc\u30ea\u30dc\u30fc\u5148\u7269\u304c\u4eca\u5e74\u304a\u3088\u3073\u6765\u5e74\u306b\u304b\u3051\u3066\u653f\u7b56\u91d1\u5229\u306e\u636e\u3048\u7f6e\u304d\u3092\u53cd\u6620\u3059\u308b\u3088\u3046\u306b\u30dd\u30b8\u30b7\u30e7\u30cb\u30f3\u30b0\u3059\u308b\u306a\u3069\u3001\u91d1\u5229\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u306b\u304a\u3051\u308b\u6a5f\u4f1a\u3092\u63d0\u793a\u3057\u3066\u3044\u307e\u3057\u305f\u30022025\u5e74\u534a\u3070\u306b\u3082\u3001\u5e02\u5834\u304c\u653f\u7b56\u5909\u66f4\u3092\u5148\u8d70\u3063\u3066\u7e54\u308a\u8fbc\u3093\u3060\u3082\u306e\u306e\u3001\u5b9f\u969b\u306e\u653f\u7b56\u52d5\u304d\u304c\u306a\u304b\u306a\u304b\u5230\u6765\u3057\u306a\u304b\u3063\u305f\u985e\u4f3c\u306e\u5c40\u9762\u304c\u898b\u3089\u308c\u3066\u3044\u307e\u3057\u305f\u3002\n\n

Volatility And Market Positioning<\/h3>\n\u7279\u306b\u30e6\u30fc\u30ed\u570f\u306e\u682a\u5f0f\u30fb\u50b5\u5238\u5e02\u5834\u3067\u306f\u3001\u30a4\u30f3\u30d7\u30e9\u30a4\u30c9\u30fb\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u304c\u5bfe\u7acb\u95a2\u9023\u306e\u30cb\u30e5\u30fc\u30b9\u3067\u6025\u901f\u306b\u4e0a\u6607\u3057\u3059\u304e\u305f\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3057\u305f\u3002\u30d6\u30ec\u30f3\u30c8\u539f\u6cb9\u306f2026\u5e742\u6708\u4e0b\u65ec\u306e1\u30d0\u30ec\u30eb95\u30c9\u30eb\u8d85\u306e\u30d4\u30fc\u30af\u304b\u3089\u7d0488\u30c9\u30eb\u3078\u53cd\u843d\u3057\u3066\u304a\u308a\u3001\u30e6\u30fc\u30ed\u30fb\u30b9\u30c8\u30c3\u30af\u30b950\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u3088\u3046\u306a\u5546\u54c1\u3067\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3092\u58f2\u308b\u3053\u3068\u304c\u6709\u5229\u306b\u306a\u308a\u5f97\u305f\u306e\u3067\u3057\u305f\u3002\u3053\u306e\u6226\u7565\u306f\u3001ECB\u306e\u5b89\u5b9a\u3057\u305f\u904b\u55b6\u304c\u4eca\u5f8c\u6570\u9031\u9593\u3067\u5e02\u5834\u3092\u843d\u3061\u7740\u304b\u305b\u308b\u3053\u3068\u306b\u8ced\u3051\u308b\u3082\u306e\u3067\u3057\u305f\u3002\n\nECB\u304c\u5fcd\u8010\u5f37\u304f\u3001\u4ed6\u306e\u4e2d\u592e\u9280\u884c\u304c\u7570\u306a\u308b\u9053\u7b4b\u3092\u305f\u3069\u308b\u5834\u5408\u3001\u30e6\u30fc\u30ed\u306b\u306f\u7de9\u3084\u304b\u306a\u4e0b\u62bc\u3057\u5727\u529b\u304c\u304b\u304b\u308a\u5f97\u305f\u306e\u3067\u3057\u305f\u3002\u305d\u306e\u305f\u3081\u3001EUR\/USD\u304c\u5b89\u5b9a\u7684\u3001\u3082\u3057\u304f\u306f\u3084\u3084\u30e6\u30fc\u30ed\u5b89\u3068\u306a\u308b\u5c40\u9762\u3067\u6069\u6075\u3092\u53d7\u3051\u308b\u901a\u8ca8\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u6226\u7565\u3092\u691c\u8a0e\u3059\u3079\u304d\u3067\u3057\u305f\u3002\u3053\u306e\u898b\u65b9\u306b\u5bfe\u3059\u308b\u4e3b\u306a\u30ea\u30b9\u30af\u306f\u3001\u5bfe\u7acb\u304c\u5927\u304d\u304f\u304b\u3064\u6301\u7d9a\u7684\u306b\u6fc0\u5316\u3057\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u304c100\u30c9\u30eb\u3092\u6301\u7d9a\u7684\u306b\u4e0a\u56de\u308a\u7d9a\u3051\u308b\u3053\u3068\u3067\u3057\u305f\u3002\n\n\n

\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u3092\u59cb\u3081\u307e\u3057\u3087\u3046 – \u3053\u3053\u3092\u30af\u30ea\u30c3\u30af<\/a>\u3057\u3066VT Markets\u53e3\u5ea7\u3092\u958b\u8a2d<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

\u5e02\u5834\u306f\u65e9\u3068\u3061\u308a\uff1fECB\u306f\u30a8\u30cd\u30eb\u30ae\u30fc\u6025\u9a30\u306b\u52d5\u3058\u305a\u3001\u9577\u671fHICP\u898b\u901a\u3057\u91cd\u8996\u3067\u3057\u305f\u3002\u539f\u6cb9\u30fb\u30ac\u30b9\u9ad8\u3067\u4e88\u6e2c\u4e0a\u632f\u308c\u3082\u3001\u5f53\u9762\u306f\u636e\u3048\u7f6e\u304d\u3001\u5229\u4e0a\u3052\u306f2028\u5e74\u304c\u57fa\u672c\u30b7\u30ca\u30ea\u30aa\u3067\u3057\u305f\u3002 – vtmarketsjp.com<\/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-48154","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\/48154","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=48154"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/posts\/48154\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/media?parent=48154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/categories?post=48154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/tags?post=48154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}