{"id":49327,"date":"2026-06-02T23:54:00","date_gmt":"2026-06-02T23:54:00","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/48096\/"},"modified":"2026-06-02T23:54:00","modified_gmt":"2026-06-02T23:54:00","slug":"%e3%82%b9%e3%82%bf%e3%83%b3%e3%83%80%e3%83%bc%e3%83%89%e3%83%81%e3%83%a3%e3%83%bc%e3%82%bf%e3%83%bc%e3%83%89%e9%8a%80%e8%a1%8c%ef%bc%9a%e4%b8%ad%e5%9b%bd%e4%ba%ba%e6%b0%91%e9%8a%80%e8%a1%8c%ef%bc%88pb","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/jp-asia\/live-updates\/49327\/","title":{"rendered":"\u30b9\u30bf\u30f3\u30c0\u30fc\u30c9\u30c1\u30e3\u30fc\u30bf\u30fc\u30c9\u9280\u884c\uff1a\u4e2d\u56fd\u4eba\u6c11\u9280\u884c\uff08PBoC\uff09\u306f\u6d41\u52d5\u6027\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u306e\u8ef8\u8db3\u3092DR001\u306b\u79fb\u3057\u3001\u7fcc\u65e5\u7269\u91d1\u5229\u3092\u30a2\u30f3\u30ab\u30fc\u3068\u3059\u308b\u5c55\u958b\u3092\u793a\u5506"},"content":{"rendered":"

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\u4e2d\u56fd\u306e7\u65e5\u7269\u30ea\u30d0\u30fc\u30b9\u30ec\u30dd\u91d1\u5229\u306f\u30012024\u5e74\u534a\u3070\u306b\u552f\u4e00\u306e\u653f\u7b56\u91d1\u5229\u3068\u3057\u3066\u4f4d\u7f6e\u3065\u3051\u3089\u308c\u305f\u3002\u4e00\u65b9\u3067PBoC\u306f2025\u5e745\u6708\u30011\u20143\u6708\u671f\u300c\u91d1\u878d\u653f\u7b56\u57f7\u884c\u5831\u544a\u300d\u306e\u516c\u8868\u6642\u306bDR001\u3092\u7528\u3044\u3001\u653f\u7b56\u91d1\u5229\u8a2d\u5b9a\u304b\u3089\u5e02\u5834\u91d1\u5229\u304c\u3069\u306e\u7a0b\u5ea6\u4e56\u96e2\u3057\u3066\u3044\u308b\u304b\u3092\u30c8\u30e9\u30c3\u30ad\u30f3\u30b0\u3057\u59cb\u3081\u305f\u3002\u3055\u3089\u306b2026\u5e741\u20143\u6708\u671f\u5831\u544a\u3067\u306f\u3001\u30aa\u30fc\u30d0\u30fc\u30ca\u30a4\u30c8\u306e\u30de\u30cd\u30fc\u30de\u30fc\u30b1\u30c3\u30c8\u91d1\u5229\u3092\u653f\u7b56\u91d1\u5229\u8fd1\u508d\u306b\u7dad\u6301\u3059\u308b\u65b9\u91dd\u3092\u8868\u660e\u3002DR001\u306e\u30a2\u30f3\u30ab\u30fc\u3068\u3057\u3066\u306e\u5f79\u5272\u3092\u5f37\u3081\u308b\u3068\u3068\u3082\u306b\u3001DR001\u30687\u65e5\u7269\u653f\u7b56\u91d1\u5229\u306e\u30c6\u30ca\u30fc\u4e0d\u4e00\u81f4\u3092\u89e3\u6d88\u3059\u308b\u89b3\u70b9\u304b\u3089\u3001\u30aa\u30fc\u30d0\u30fc\u30ca\u30a4\u30c8\u653f\u7b56\u91d1\u5229\u3078\u306e\u79fb\u884c\u306e\u53ef\u80fd\u6027\u3092\u793a\u5506\u3057\u305f\u3002<\/p>\n

\n

Overnight Rate as the New Anchor<\/h3>\n

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\u3053\u306e\u30b7\u30d5\u30c8\u306f\u3001\u4e2d\u56fd\u30a4\u30f3\u30bf\u30fc\u30d0\u30f3\u30af\u5e02\u5834\u3067\u306f\u30aa\u30fc\u30d0\u30fc\u30ca\u30a4\u30c8\u8cc7\u91d1\u304c\u4e2d\u6838\u3067\u3042\u308b\u3068\u3044\u3046\u73fe\u5b9f\u3092\u6620\u3057\u3066\u3044\u308b\u306b\u3059\u304e\u306a\u3044\u3002\u4e2d\u56fd\u5916\u8ca8\u53d6\u5f15\u30bb\u30f3\u30bf\u30fc\uff08CFETS\uff09\u306e\u30c7\u30fc\u30bf\u306b\u3088\u308c\u3070\u3001\u30aa\u30fc\u30d0\u30fc\u30ca\u30a4\u30c8\u30fb\u30ec\u30dd\u53d6\u5f15\u306f\u5e02\u5834\u7dcf\u51fa\u6765\u9ad8\u306e\u7d049\u5272\u3092\u5360\u3081\u308b\u3002DR001\u306b\u7126\u70b9\u3092\u5f53\u3066\u308b\u3053\u3068\u3067\u3001\u4e2d\u592e\u9280\u884c\u306f\u91d1\u878d\u30b7\u30b9\u30c6\u30e0\u306e\u300c\u914d\u7ba1\u300d\u306b\u5f53\u305f\u308b\u6700\u91cd\u8981\u90e8\u5206\u3092\u4e8b\u5b9f\u4e0a\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3057\u3066\u3044\u308b\u3002<\/p>\n

\n

Implications for Market Participants and Policy Outlook<\/h3>\n

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\u30ab\u30fc\u30d6\u306e\u30d5\u30ed\u30f3\u30c8\u30a8\u30f3\u30c9\u304c\u5f37\u56fa\u306b\u30a2\u30f3\u30ab\u30fc\u3055\u308c\u308b\u4e2d\u3001\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u304c\u30b9\u30c6\u30a3\u30fc\u30d7\u5316\u3059\u308b\u4f59\u5730\u304c\u3042\u308b\u3002\u8db3\u5143\u306e\u9271\u5de5\u696d\u751f\u7523\u7d71\u8a08\u304c\u793a\u5506\u3059\u308b\u3088\u3046\u306b\u3001\u666f\u6c17\u6307\u6a19\u306e\u6539\u5584\u3067\u9577\u671f\u91d1\u5229\u304c\u4e0a\u6607\u3059\u308b\u5834\u5408\u306b\u8d77\u3053\u308a\u5f97\u308b\u3002\u3053\u3046\u3057\u305f\u74b0\u5883\u3092\u8e0f\u307e\u3048\u3001\u77ed\u671f\u30b9\u30ef\u30c3\u30d7\u3067\u306f\u56fa\u5b9a\u53d7\u3051\u3001\u9577\u671f\u30b9\u30ef\u30c3\u30d7\u3067\u306f\u56fa\u5b9a\u6255\u3044\u3068\u3044\u3063\u305f\u30ab\u30fc\u30d6\u30fb\u30b9\u30c6\u30a3\u30fc\u30d7\u30ca\u30fc\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u69cb\u7bc9\u3057\u3066\u3044\u308b\u3002<\/p>\n

\u6700\u7d42\u7684\u306bPBoC\u306f\u3001\u3053\u306e\u904b\u7528\u4e0a\u306e\u9078\u597d\u3092\u516c\u5f0f\u5316\u3057\u3001\u30aa\u30fc\u30d0\u30fc\u30ca\u30a4\u30c8\u653f\u7b56\u91d1\u5229\u3092\u6b63\u5f0f\u306b\u63a1\u7528\u3059\u308b\u3068\u4e88\u60f3\u3055\u308c\u308b\u3002\u305d\u3046\u306a\u308c\u3070\u73fe\u884c\u306e\u30df\u30b9\u30de\u30c3\u30c1\u306f\u89e3\u6d88\u3055\u308c\u3001\u306a\u304a\u5b89\u5b9a\u7684\u306a\u6210\u9577\u30e2\u30e1\u30f3\u30bf\u30e0\u3092\u6a21\u7d22\u3059\u308b\u7d4c\u6e08\u306e\u4e0b\u652f\u3048\u306b\u3082\u8cc7\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u6642\u671f\u306f\u4e0d\u900f\u660e\u3060\u304c\u3001\u5e02\u5834\u306f\u6982\u306d\u7e54\u308a\u8fbc\u307f\u3064\u3064\u3042\u308b\u305f\u3081\u3001\u6b63\u5f0f\u767a\u8868\u304c\u3042\u3063\u3066\u3082\u5927\u304d\u306a\u30b7\u30e7\u30c3\u30af\u306b\u306f\u306a\u308a\u306b\u304f\u3044\u3068\u307f\u3089\u308c\u308b\u3002<\/p>\n\n\n

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