{"id":8353,"date":"2026-04-25T16:54:06","date_gmt":"2026-04-25T07:54:06","guid":{"rendered":"https:\/\/blackfire.work\/?p=8353"},"modified":"2026-04-25T16:54:06","modified_gmt":"2026-04-25T07:54:06","slug":"18","status":"publish","type":"post","link":"https:\/\/blackfire.work\/?p=8353","title":{"rendered":"Global Inflation, Recession & Central Bank Policy Criticized."},"content":{"rendered":"

\u8fd1\u5e74\u3001\u4e16\u754c\u7d4c\u6e08\u306f\u304b\u3064\u3066\u306a\u3044\u307b\u3069\u306e\u5909\u52d5\u306b\u76f4\u9762\u3057\u3066\u304a\u308a\u3001\u79c1\u305f\u3061\u306e\u751f\u6d3b\u306b\u5927\u304d\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u3066\u3044\u307e\u3059\u3002\u7279\u306b\u3001\u30d1\u30f3\u30c7\u30df\u30c3\u30af\u304b\u3089\u306e\u56de\u5fa9\u671f\u306b\u304a\u3051\u308b\u9700\u8981\u306e\u6025\u5897\u3001\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u306e\u6df7\u4e71\u3001\u305d\u3057\u3066\u5730\u653f\u5b66\u7684\u306a\u7dca\u5f35\u306a\u3069\u304c\u8907\u5408\u7684\u306b\u4f5c\u7528\u3057\u3001\u30a4\u30f3\u30d5\u30ec\u306f\u9ad8\u6b62\u307e\u308a\u3092\u898b\u305b\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u72b6\u6cc1\u4e0b\u3067\u3001\u591a\u304f\u306e\u7d4c\u6e08\u5b66\u8005\u3084\u5e02\u6c11\u304c\u6ce8\u76ee\u3057\u3066\u3044\u308b\u306e\u304c\u3001\u4e16\u754c\u7684\u306a\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u5371\u6a5f\u3001\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u5931\u6557\u3078\u306e\u6279\u5224<\/span>\u3067\u3059\u3002\u4e2d\u592e\u9280\u884c\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u6291\u5236\u3057\u3001\u7d4c\u6e08\u306e\u5b89\u5b9a\u3092\u56f3\u308b\u3079\u304d\u5f79\u5272\u3092\u5341\u5206\u306b\u679c\u305f\u305b\u3066\u3044\u308b\u306e\u304b\u3001\u305d\u306e\u653f\u7b56\u306e\u6709\u52b9\u6027\u306b\u306f\u7591\u554f\u7b26\u304c\u6295\u3052\u304b\u3051\u3089\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u672c\u8a18\u4e8b\u3067\u306f\u3001\u73fe\u5728\u306e\u4e16\u754c\u7684\u306a\u7d4c\u6e08\u72b6\u6cc1\u3092\u6df1\u304f\u6398\u308a\u4e0b\u3052\u3001\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u304c\u306a\u305c\u3053\u308c\u307b\u3069\u61f8\u5ff5\u3055\u308c\u3066\u3044\u308b\u306e\u304b\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002\u307e\u305f\u3001\u4e3b\u8981\u56fd\u306e\u4e2d\u592e\u9280\u884c\u304c\u8b1b\u3058\u3066\u304d\u305f\u653f\u7b56\u3001\u305d\u306e\u9650\u754c\u3001\u305d\u3057\u3066\u306a\u305c\u653f\u7b56\u5931\u6557\u3068\u306e\u6279\u5224\u304c\u4e0a\u304c\u3063\u3066\u3044\u308b\u306e\u304b\u306b\u3064\u3044\u3066\u3001\u5177\u4f53\u7684\u306a\u4e8b\u4f8b\u3092\u4ea4\u3048\u306a\u304c\u3089\u8003\u5bdf\u3057\u3066\u3044\u304d\u307e\u3059\u3002\u8aad\u8005\u306e\u7686\u69d8\u304c\u3001\u8907\u96d1\u306a\u4e16\u754c\u7d4c\u6e08\u306e\u73fe\u72b6\u3068\u3001\u305d\u306e\u4e2d\u3067\u4e2d\u592e\u9280\u884c\u304c\u679c\u305f\u3059\u3079\u304d\u5f79\u5272\u306b\u3064\u3044\u3066\u7406\u89e3\u3092\u6df1\u3081\u308b\u4e00\u52a9\u3068\u306a\u308c\u3070\u5e78\u3044\u3067\u3059\u3002<\/p>\n

\u73fe\u5728\u306e\u4e16\u754c\u7d4c\u6e08\u306e\u72b6\u6cc1\uff1a\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u8db3\u97f3<\/h2>\n

\u4e16\u754c\u7d4c\u6e08\u306f\u3001\u6570\u5341\u5e74\u3076\u308a\u306e\u9ad8\u30a4\u30f3\u30d5\u30ec\u306b\u898b\u821e\u308f\u308c\u3066\u3044\u307e\u3059\u3002\u7c73\u56fd\u3001\u30e6\u30fc\u30ed\u570f\u3001\u82f1\u56fd\u306a\u3069\u4e3b\u8981\u7d4c\u6e08\u570f\u3067\u306f\u3001\u6d88\u8cbb\u8005\u7269\u4fa1\u6307\u6570\uff08CPI\uff09\u304c\u6b74\u53f2\u7684\u306a\u6c34\u6e96\u306b\u9054\u3057\u3001\u5bb6\u8a08\u3084\u4f01\u696d\u306e\u8cfc\u8cb7\u529b\u3092\u8457\u3057\u304f\u4f4e\u4e0b\u3055\u305b\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u30a4\u30f3\u30d5\u30ec\u306f\u3001\u5358\u4e00\u306e\u539f\u56e0\u3067\u306f\u306a\u304f\u3001\u8907\u6570\u306e\u8981\u56e0\u304c\u7d61\u307f\u5408\u3063\u3066\u767a\u751f\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u307e\u305a\u3001\u65b0\u578b\u30b3\u30ed\u30ca\u30a6\u30a4\u30eb\u30b9\u611f\u67d3\u75c7\u306e\u30d1\u30f3\u30c7\u30df\u30c3\u30af\u306b\u3088\u308a\u3001\u4e16\u754c\u4e2d\u3067\u751f\u7523\u6d3b\u52d5\u304c\u505c\u6ede\u3057\u3001\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u304c\u5bf8\u65ad\u3055\u308c\u307e\u3057\u305f\u3002\u30ed\u30c3\u30af\u30c0\u30a6\u30f3\u63aa\u7f6e\u304c\u89e3\u9664\u3055\u308c\u7d4c\u6e08\u6d3b\u52d5\u304c\u518d\u958b\u3059\u308b\u3068\u3001\u305d\u308c\u307e\u3067\u6291\u5236\u3055\u308c\u3066\u3044\u305f\u9700\u8981\u304c\u4e00\u6c17\u306b\u5674\u51fa\u3057\u3001\u4f9b\u7d66\u304c\u8ffd\u3044\u3064\u304b\u306a\u3044\u72b6\u6cc1\u304c\u751f\u307e\u308c\u307e\u3057\u305f\u3002\u3053\u306e\u9700\u8981\u3068\u4f9b\u7d66\u306e\u30df\u30b9\u30de\u30c3\u30c1\u304c\u3001\u7269\u4fa1\u4e0a\u6607\u306e\u5927\u304d\u306a\u8981\u56e0\u306e\u4e00\u3064\u3067\u3059\u3002<\/p>\n

\u3055\u3089\u306b\u3001\u30ed\u30b7\u30a2\u306b\u3088\u308b\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u306f\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u3068\u98df\u6599\u4fa1\u683c\u3092\u4e16\u754c\u7684\u306b\u9ad8\u9a30\u3055\u305b\u307e\u3057\u305f\u3002\u7279\u306b\u3001\u539f\u6cb9\u3084\u5929\u7136\u30ac\u30b9\u3001\u5c0f\u9ea6\u306a\u3069\u306e\u4e3b\u8981\u8f38\u51fa\u56fd\u3067\u3042\u308b\u4e21\u56fd\u306e\u7d1b\u4e89\u306f\u3001\u4f9b\u7d66\u4e0d\u5b89\u3092\u717d\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u5727\u529b\u3092\u4e00\u5c64\u5f37\u3081\u308b\u7d50\u679c\u3068\u306a\u308a\u307e\u3057\u305f\u3002\u3053\u308c\u3089\u306e\u5916\u90e8\u8981\u56e0\u306f\u3001\u4e2d\u592e\u9280\u884c\u306e\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u304c\u53ca\u3070\u306a\u3044\u9818\u57df\u3067\u3042\u308a\u3001\u653f\u7b56\u7acb\u6848\u3092\u3055\u3089\u306b\u56f0\u96e3\u306b\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u9ad8\u30a4\u30f3\u30d5\u30ec\u306e\u80cc\u666f\u306b\u3042\u308b\u8907\u5408\u7684\u8981\u56e0<\/h3>\n

\u73fe\u5728\u306e\u9ad8\u30a4\u30f3\u30d5\u30ec\u306f\u3001\u4e00\u904e\u6027\u306e\u3082\u306e\u3067\u306f\u306a\u304f\u3001\u69cb\u9020\u7684\u306a\u554f\u984c\u3082\u62b1\u3048\u3066\u3044\u308b\u3068\u306e\u898b\u65b9\u304c\u3042\u308a\u307e\u3059\u3002\u4f8b\u3048\u3070\u3001\u8131\u70ad\u7d20\u5316\u306b\u5411\u3051\u305f\u6295\u8cc7\u306e\u52a0\u901f\u306f\u3001\u5316\u77f3\u71c3\u6599\u3078\u306e\u65b0\u898f\u6295\u8cc7\u3092\u6291\u5236\u3057\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u4f9b\u7d66\u306e\u4e0d\u5b89\u5b9a\u3055\u3092\u5897\u5e45\u3055\u305b\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u5316\u306e\u5dfb\u304d\u623b\u3057\u3084\u5730\u653f\u5b66\u7684\u306a\u5206\u65ad\u306f\u3001\u52b9\u7387\u6027\u3092\u8ffd\u6c42\u3057\u3066\u304d\u305f\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u306e\u518d\u7de8\u3092\u4fc3\u3057\u3001\u30b3\u30b9\u30c8\u4e0a\u6607\u8981\u56e0\u3068\u306a\u308b\u53ef\u80fd\u6027\u3082\u6307\u6458\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u8cc3\u91d1\u306e\u4e0a\u6607\u3082\u30a4\u30f3\u30d5\u30ec\u306e\u4e00\u56e0\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u52b4\u50cd\u5e02\u5834\u306e\u903c\u8feb\u3092\u80cc\u666f\u306b\u3001\u591a\u304f\u306e\u4f01\u696d\u304c\u8cc3\u4e0a\u3052\u3092\u4f59\u5100\u306a\u304f\u3055\u308c\u3066\u304a\u308a\u3001\u3053\u308c\u304c\u751f\u7523\u30b3\u30b9\u30c8\u306e\u5897\u52a0\u3092\u901a\u3058\u3066\u6700\u7d42\u88fd\u54c1\u306e\u4fa1\u683c\u306b\u8ee2\u5ac1\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u300c\u8cc3\u91d1\u30fb\u7269\u4fa1\u30b9\u30d1\u30a4\u30e9\u30eb\u300d\u306e\u5146\u5019\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u5b9a\u7740\u3059\u308b\u30ea\u30b9\u30af\u3092\u9ad8\u3081\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u666f\u6c17\u5f8c\u9000\u306e\u61f8\u5ff5\u3068\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306e\u30ea\u30b9\u30af<\/h3>\n

\u9ad8\u30a4\u30f3\u30d5\u30ec\u304c\u7d9a\u304f\u4e2d\u3067\u3001\u666f\u6c17\u5f8c\u9000\u3078\u306e\u61f8\u5ff5\u3082\u65e5\u5897\u3057\u306b\u5f37\u307e\u3063\u3066\u3044\u307e\u3059\u3002\u4e2d\u592e\u9280\u884c\u304c\u9ad8\u30a4\u30f3\u30d5\u30ec\u3092\u6291\u5236\u3059\u308b\u305f\u3081\u306b\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u6025\u3052\u3070\u3001\u7d4c\u6e08\u6d3b\u52d5\u304c\u51b7\u3048\u8fbc\u307f\u3001\u4f01\u696d\u6295\u8cc7\u3084\u500b\u4eba\u6d88\u8cbb\u304c\u843d\u3061\u8fbc\u3080\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u5b9f\u969b\u306b\u3001\u4e3b\u8981\u56fd\u306ePMI\uff08\u8cfc\u8cb7\u62c5\u5f53\u8005\u666f\u6c17\u6307\u6570\uff09\u306f\u4f4e\u4e0b\u50be\u5411\u306b\u3042\u308a\u3001\u5148\u884c\u304d\u306e\u4e0d\u900f\u660e\u611f\u304c\u5897\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u7279\u306b\u8b66\u6212\u3055\u308c\u3066\u3044\u308b\u306e\u304c\u3001\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306e\u30ea\u30b9\u30af\u3067\u3059\u3002\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u3068\u306f\u3001\u666f\u6c17\u505c\u6ede\uff08Stagnation\uff09\u3068\u30a4\u30f3\u30d5\u30ec\uff08Inflation\uff09\u304c\u540c\u6642\u306b\u9032\u884c\u3059\u308b\u72b6\u614b\u3092\u6307\u3057\u307e\u3059\u30021970\u5e74\u4ee3\u306e\u30aa\u30a4\u30eb\u30b7\u30e7\u30c3\u30af\u6642\u306b\u3082\u7d4c\u9a13\u3055\u308c\u305f\u3053\u306e\u73fe\u8c61\u306f\u3001\u901a\u5e38\u306e\u91d1\u878d\u653f\u7b56\u3067\u306f\u5bfe\u5fdc\u304c\u975e\u5e38\u306b\u56f0\u96e3\u3067\u3042\u308a\u3001\u7d4c\u6e08\u306b\u6df1\u523b\u306a\u30c0\u30e1\u30fc\u30b8\u3092\u4e0e\u3048\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u73fe\u5728\u306e\u4e16\u754c\u7684\u306a\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u5371\u6a5f\u3001\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u5931\u6557\u3078\u306e\u6279\u5224<\/span>\u306f\u3001\u307e\u3055\u306b\u3053\u306e\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u3078\u306e\u61f8\u5ff5\u3068\u6df1\u304f\u7d50\u3073\u3064\u3044\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u5bfe\u5fdc\u3068\u305d\u306e\u9650\u754c\uff1a\u4e16\u754c\u7684\u306a\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u5371\u6a5f\u3001\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u5931\u6557\u3078\u306e\u6279\u5224<\/h2>\n

\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u30ea\u30b9\u30af\u306b\u76f4\u9762\u3057\u3001\u4e3b\u8981\u56fd\u306e\u4e2d\u592e\u9280\u884c\u306f\u91d1\u878d\u653f\u7b56\u306e\u6b63\u5e38\u5316\u3001\u3059\u306a\u308f\u3061\u5229\u4e0a\u3052\u3068\u91cf\u7684\u5f15\u304d\u7de0\u3081\u3078\u3068\u8235\u3092\u5207\u308a\u307e\u3057\u305f\u3002\u3057\u304b\u3057\u3001\u305d\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u3084\u30da\u30fc\u30b9\u3001\u305d\u3057\u3066\u52b9\u679c\u306b\u3064\u3044\u3066\u306f\u3001\u69d8\u3005\u306a\u6279\u5224\u304c\u5bc4\u305b\u3089\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u7c73\u56fd\u306e\u4e2d\u592e\u9280\u884c\u3067\u3042\u308bFRB\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u7406\u4e8b\u4f1a\uff09\u306f\u3001\u5f53\u521d\u30a4\u30f3\u30d5\u30ec\u3092\u300c\u4e00\u6642\u7684\u300d\u306a\u3082\u306e\u3068\u898b\u306a\u3057\u3001\u5229\u4e0a\u3052\u958b\u59cb\u3092\u9045\u3089\u305b\u307e\u3057\u305f\u3002\u3057\u304b\u3057\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u4e88\u60f3\u4ee5\u4e0a\u306b\u6301\u7d9a\u7684\u3067\u3042\u308b\u3053\u3068\u304c\u660e\u3089\u304b\u306b\u306a\u308b\u3068\u3001FRB\u306f\u6025\u30d4\u30c3\u30c1\u3067\u5229\u4e0a\u3052\u3092\u9032\u3081\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u306b\u5fc5\u8981\u306a\u63aa\u7f6e\u3067\u3057\u305f\u304c\u3001\u5e02\u5834\u304b\u3089\u306f\u300c\u5bfe\u5fdc\u304c\u9045\u3059\u304e\u305f\u300d\u3068\u306e\u6279\u5224\u304c\u4e0a\u304c\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u6b27\u5dde\u4e2d\u592e\u9280\u884c\uff08ECB\uff09\u3082\u3001\u5730\u57df\u5185\u306e\u7d4c\u6e08\u683c\u5dee\u3084\u50b5\u52d9\u554f\u984c\u3078\u306e\u914d\u616e\u304b\u3089\u3001\u5229\u4e0a\u3052\u958b\u59cb\u304cFRB\u3088\u308a\u3082\u9045\u308c\u307e\u3057\u305f\u3002\u30e6\u30fc\u30ed\u570f\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u7c73\u56fd\u306b\u5339\u6575\u3059\u308b\u6c34\u6e96\u306b\u9054\u3057\u3066\u304a\u308a\u3001ECB\u306e\u653f\u7b56\u5bfe\u5fdc\u306e\u9045\u308c\u304c\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u9577\u671f\u5316\u3092\u62db\u3044\u305f\u3068\u306e\u898b\u65b9\u3082\u5c11\u306a\u304f\u3042\u308a\u307e\u305b\u3093\u3002\u5404\u56fd\u306e\u4e2d\u592e\u9280\u884c\u306f\u3001\u305d\u308c\u305e\u308c\u306e\u7d4c\u6e08\u72b6\u6cc1\u3084\u653f\u6cbb\u7684\u80cc\u666f\u3092\u8003\u616e\u3057\u306a\u304c\u3089\u653f\u7b56\u6c7a\u5b9a\u3092\u884c\u3063\u3066\u3044\u307e\u3059\u304c\u3001\u305d\u306e\u5224\u65ad\u304c\u7d50\u679c\u7684\u306b\u4e16\u754c\u7684\u306a\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u5371\u6a5f\u3001\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u5931\u6557\u3078\u306e\u6279\u5224<\/span>\u3078\u3068\u7e4b\u304c\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u91d1\u878d\u653f\u7b56\u306e\u300c\u9045\u3059\u304e\u308b\u300d\u5f15\u304d\u7de0\u3081\u3078\u306e\u6279\u5224<\/h3>\n

\u591a\u304f\u306e\u6279\u5224\u306e\u6838\u5fc3\u306f\u3001\u4e2d\u592e\u9280\u884c\u304c\u30a4\u30f3\u30d5\u30ec\u306e\u5146\u5019\u3092\u65e9\u671f\u306b\u6349\u3048\u3001\u9069\u5207\u306a\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u958b\u59cb\u3067\u304d\u306a\u304b\u3063\u305f\u70b9\u306b\u3042\u308a\u307e\u3059\u3002\u30d1\u30f3\u30c7\u30df\u30c3\u30af\u521d\u671f\u306b\u306f\u3001\u7d4c\u6e08\u3092\u652f\u3048\u308b\u305f\u3081\u306b\u5927\u898f\u6a21\u306a\u91d1\u878d\u7de9\u548c\u304c\u5fc5\u8981\u3068\u3055\u308c\u307e\u3057\u305f\u304c\u3001\u305d\u306e\u7de9\u548c\u7b56\u304c\u9577\u671f\u306b\u308f\u305f\u308a\u7dad\u6301\u3055\u308c\u305f\u3053\u3068\u304c\u3001\u73fe\u5728\u306e\u9ad8\u30a4\u30f3\u30d5\u30ec\u306e\u6e29\u5e8a\u3068\u306a\u3063\u305f\u3068\u306e\u6307\u6458\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u4f8b\u3048\u3070\u3001FRB\u306f2021\u5e74\u307e\u3067\u91cf\u7684\u7de9\u548c\u3092\u7d99\u7d9a\u3057\u3001\u30bc\u30ed\u91d1\u5229\u653f\u7b56\u3092\u7dad\u6301\u3057\u3066\u3044\u307e\u3057\u305f\u3002\u3053\u308c\u306f\u3001\u666f\u6c17\u56de\u5fa9\u3092\u78ba\u5b9f\u306b\u3059\u308b\u305f\u3081\u306e\u63aa\u7f6e\u3067\u3057\u305f\u304c\u3001\u540c\u6642\u306b\u5e02\u5834\u306b\u5927\u91cf\u306e\u6d41\u52d5\u6027\u3092\u4f9b\u7d66\u3057\u3001\u8cc7\u7523\u4fa1\u683c\u306e\u30d0\u30d6\u30eb\u5316\u3068\u7269\u4fa1\u4e0a\u6607\u5727\u529b\u3092\u751f\u307f\u51fa\u3057\u307e\u3057\u305f\u3002\u3082\u3057\u3001\u3088\u308a\u65e9\u671f\u306b\u7de9\u548c\u7b56\u306e\u7e2e\u5c0f\uff08\u30c6\u30fc\u30d1\u30ea\u30f3\u30b0\uff09\u3092\u958b\u59cb\u3057\u3066\u3044\u308c\u3070\u3001\u73fe\u5728\u306e\u30a4\u30f3\u30d5\u30ec\u306f\u3082\u3046\u5c11\u3057\u7a4f\u3084\u304b\u3060\u3063\u305f\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002<\/p>\n

\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u5224\u65ad\u306e\u96e3\u3057\u3055<\/h3>\n

\u3082\u3061\u308d\u3093\u3001\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u5224\u65ad\u306f\u5e38\u306b\u56f0\u96e3\u3092\u4f34\u3044\u307e\u3059\u3002\u30a4\u30f3\u30d5\u30ec\u304c\u4e00\u6642\u7684\u306a\u3082\u306e\u304b\u3001\u6301\u7d9a\u7684\u306a\u3082\u306e\u304b\u3092\u898b\u6975\u3081\u308b\u3053\u3068\u306f\u5bb9\u6613\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u307e\u305f\u3001\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306f\u666f\u6c17\u5f8c\u9000\u306e\u30ea\u30b9\u30af\u3092\u9ad8\u3081\u308b\u305f\u3081\u3001\u305d\u306e\u30d0\u30e9\u30f3\u30b9\u3092\u53d6\u308b\u3053\u3068\u306f\u975e\u5e38\u306b\u7e4a\u7d30\u306a\u4f5c\u696d\u3067\u3059\u3002\u4e2d\u592e\u9280\u884c\u306f\u3001\u96c7\u7528\u306e\u6700\u5927\u5316\u3068\u7269\u4fa1\u306e\u5b89\u5b9a\u3068\u3044\u3046\u4e8c\u3064\u306e\u76ee\u6a19\u3092\u540c\u6642\u306b\u9054\u6210\u3057\u3088\u3046\u3068\u52aa\u3081\u3066\u3044\u307e\u3059\u304c\u3001\u73fe\u5728\u306e\u72b6\u6cc1\u3067\u306f\u305d\u306e\u4e21\u7acb\u304c\u6975\u3081\u3066\u56f0\u96e3\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u7279\u306b\u3001\u4f9b\u7d66\u30b5\u30a4\u30c9\u306e\u30b7\u30e7\u30c3\u30af\uff08\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u306e\u6df7\u4e71\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u9ad8\u9a30\u306a\u3069\uff09\u306b\u8d77\u56e0\u3059\u308b\u30a4\u30f3\u30d5\u30ec\u306b\u5bfe\u3057\u3066\u306f\u3001\u91d1\u878d\u653f\u7b56\u306e\u6709\u52b9\u6027\u306b\u306f\u9650\u754c\u304c\u3042\u308a\u307e\u3059\u3002\u5229\u4e0a\u3052\u306f\u9700\u8981\u3092\u6291\u5236\u3059\u308b\u52b9\u679c\u306f\u3042\u308a\u307e\u3059\u304c\u3001\u4f9b\u7d66\u4e0d\u8db3\u3092\u89e3\u6d88\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u3053\u306e\u70b9\u304c\u3001\u4e16\u754c\u7684\u306a\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u5371\u6a5f\u3001\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u5931\u6557\u3078\u306e\u6279\u5224<\/span>\u306e\u6839\u5e95\u306b\u3042\u308b\u8907\u96d1\u306a\u8ab2\u984c\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\uff08\u753b\u50cf\uff1a\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u30ed\u30b4\u304c\u4e26\u3073\u3001\u305d\u306e\u4e0a\u306b\u6279\u5224\u7684\u306a\u77e2\u5370\u304c\u63cf\u304b\u308c\u305f\u30a4\u30e1\u30fc\u30b8\uff09<\/h3>\n

alt text: \u4e16\u754c\u7684\u306a\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u5371\u6a5f\u3001\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u5931\u6557\u3078\u306e\u6279\u5224\u3092\u793a\u3059\u3001FRB\u3001ECB\u3001\u65e5\u9280\u306a\u3069\u306e\u30ed\u30b4\u3068\u6279\u5224\u7684\u306a\u77e2\u5370\u306e\u30a4\u30e1\u30fc\u30b8\u3002<\/em><\/p>\n

\u65e5\u672c\u9280\u884c\u306e\u300c\u7570\u6b21\u5143\u7de9\u548c\u300d\u3068YCC\u653f\u7b56\u3078\u306e\u8996\u70b9<\/h2>\n

\u4e3b\u8981\u56fd\u306e\u4e2d\u592e\u9280\u884c\u304c\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3078\u3068\u8ee2\u3058\u308b\u4e2d\u3001\u65e5\u672c\u9280\u884c\u306f\u5927\u898f\u6a21\u306a\u91d1\u878d\u7de9\u548c\u7b56\u3092\u7dad\u6301\u3057\u7d9a\u3051\u3066\u3044\u307e\u3059\u3002\u7279\u306b\u3001\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u30fb\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\uff08YCC\uff09\u3068\u547c\u3070\u308c\u308b\u3001\u9577\u671f\u91d1\u5229\u3092\u7279\u5b9a\u306e\u6c34\u6e96\u306b\u6291\u3048\u8fbc\u3080\u653f\u7b56\u306f\u3001\u4e16\u754c\u7684\u306b\u898b\u3066\u3082\u7570\u4f8b\u3067\u3059\u3002<\/p>\n

\u65e5\u9280\u306f\u3001\u30c7\u30d5\u30ec\u304b\u3089\u306e\u8131\u5374\u3068\u6301\u7d9a\u7684\u306a\u7269\u4fa1\u4e0a\u6607\u306e\u9054\u6210\u3092\u76ee\u6a19\u306b\u3001\u3053\u306e\u300c\u7570\u6b21\u5143\u7de9\u548c\u300d\u3092\u7d9a\u3051\u3066\u304d\u307e\u3057\u305f\u3002\u3057\u304b\u3057\u3001\u4e16\u754c\u306e\u91d1\u5229\u304c\u4e0a\u6607\u3059\u308b\u4e2d\u3067\u3001\u65e5\u672c\u306e\u9577\u671f\u91d1\u5229\u3092\u4f4e\u304f\u6291\u3048\u8fbc\u3080\u3053\u3068\u306f\u3001\u5186\u5b89\u3092\u52a0\u901f\u3055\u305b\u3001\u8f38\u5165\u7269\u4fa1\u306e\u9ad8\u9a30\u3092\u901a\u3058\u3066\u65e5\u672c\u306e\u30a4\u30f3\u30d5\u30ec\u3092\u3055\u3089\u306b\u60aa\u5316\u3055\u305b\u308b\u8981\u56e0\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306b\u3088\u308a\u3001\u65e5\u672c\u3067\u3082\u4e16\u754c\u7684\u306a\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u5371\u6a5f\u3001\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u5931\u6557\u3078\u306e\u6279\u5224<\/span>\u306e\u58f0\u304c\u9ad8\u307e\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u5186\u5b89\u3068\u8f38\u5165\u7269\u4fa1\u9ad8\u9a30\u306e\u9023\u9396<\/h3>\n

\u65e5\u9280\u306e\u91d1\u878d\u7de9\u548c\u7dad\u6301\u3068\u4ed6\u56fd\u306e\u4e2d\u592e\u9280\u884c\u306e\u5229\u4e0a\u3052\u306b\u3088\u3063\u3066\u751f\u3058\u308b\u91d1\u5229\u5dee\u306f\u3001\u5186\u3092\u58f2\u3063\u3066\u91d1\u5229\u306e\u9ad8\u3044\u901a\u8ca8\u3092\u8cb7\u3046\u52d5\u304d\u3092\u52a0\u901f\u3055\u305b\u307e\u3059\u3002\u3053\u308c\u306b\u3088\u308a\u3001\u6b74\u53f2\u7684\u306a\u5186\u5b89\u6c34\u6e96\u304c\u7d9a\u304d\u3001\u539f\u6cb9\u3084\u98df\u6599\u54c1\u306a\u3069\u306e\u8f38\u5165\u7269\u4fa1\u304c\u5927\u5e45\u306b\u4e0a\u6607\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u65e5\u672c\u7d4c\u6e08\u306b\u3068\u3063\u3066\u30b3\u30b9\u30c8\u30d7\u30c3\u30b7\u30e5\u578b\u306e\u30a4\u30f3\u30d5\u30ec\u3092\u62db\u304d\u3001\u4f01\u696d\u53ce\u76ca\u3092\u5727\u8feb\u3057\u3001\u5bb6\u8a08\u306e\u8ca0\u62c5\u3092\u5897\u5927\u3055\u305b\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u65e5\u9280\u306f\u3001\u3053\u306e\u30a4\u30f3\u30d5\u30ec\u304c\u4e00\u6642\u7684\u306a\u3082\u306e\u3067\u3042\u308b\u3068\u306e\u898b\u65b9\u3092\u7dad\u6301\u3057\u3001\u8cc3\u91d1\u4e0a\u6607\u3092\u4f34\u3046\u6301\u7d9a\u7684\u306a\u7269\u4fa1\u4e0a\u6607\u306b\u306f\u81f3\u3063\u3066\u3044\u306a\u3044\u3068\u3057\u3066\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u591a\u304f\u306e\u56fd\u6c11\u306f\u3001\u5b9f\u8cea\u8cc3\u91d1\u306e\u4f4e\u4e0b\u3068\u751f\u6d3b\u8cbb\u306e\u9ad8\u9a30\u306b\u82e6\u3057\u3093\u3067\u304a\u308a\u3001\u65e5\u9280\u306e\u653f\u7b56\u306b\u5bfe\u3059\u308b\u4e0d\u6e80\u306f\u9ad8\u307e\u308b\u4e00\u65b9\u3067\u3059\u3002YCC\u653f\u7b56\u306e\u7d99\u7d9a\u306f\u3001\u5e02\u5834\u306e\u6a5f\u80fd\u4e0d\u5168\u3092\u5f15\u304d\u8d77\u3053\u3059\u53ef\u80fd\u6027\u3082\u6307\u6458\u3055\u308c\u3066\u304a\u308a\u3001\u653f\u7b56\u4fee\u6b63\u3078\u306e\u5727\u529b\u304c\u5f37\u307e\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u65e5\u9280\u306e\u51fa\u53e3\u6226\u7565\u3068\u4eca\u5f8c\u306e\u8ab2\u984c<\/h3>\n

\u65e5\u9280\u306b\u3068\u3063\u3066\u3001\u73fe\u5728\u306e\u91d1\u878d\u7de9\u548c\u304b\u3089\u306e\u51fa\u53e3\u6226\u7565\u306f\u6975\u3081\u3066\u56f0\u96e3\u306a\u8ab2\u984c\u3067\u3059\u3002YCC\u3092\u89e3\u9664\u3059\u308c\u3070\u3001\u9577\u671f\u91d1\u5229\u304c\u6025\u9a30\u3057\u3001\u56fd\u50b5\u5e02\u5834\u306b\u6df7\u4e71\u304c\u751f\u3058\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u307e\u305f\u3001\u4f01\u696d\u3084\u5bb6\u8a08\u306e\u501f\u308a\u5165\u308c\u30b3\u30b9\u30c8\u304c\u5897\u5927\u3057\u3001\u666f\u6c17\u3078\u306e\u60aa\u5f71\u97ff\u3082\u61f8\u5ff5\u3055\u308c\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u73fe\u72b6\u3092\u7dad\u6301\u3059\u308c\u3070\u3001\u5186\u5b89\u3068\u8f38\u5165\u7269\u4fa1\u9ad8\u9a30\u304c\u7d9a\u304d\u3001\u7d4c\u6e08\u69cb\u9020\u306e\u6b6a\u307f\u304c\u3055\u3089\u306b\u62e1\u5927\u3059\u308b\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u65e5\u672c\u9280\u884c\u306f\u3001\u4ed6\u306e\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u3068\u306f\u7570\u306a\u308b\u72ec\u81ea\u306e\u8ab2\u984c\u306b\u76f4\u9762\u3057\u3066\u304a\u308a\u3001\u305d\u306e\u653f\u7b56\u5224\u65ad\u306f\u4e16\u754c\u7d4c\u6e08\u5168\u4f53\u306b\u3082\u5f71\u97ff\u3092\u4e0e\u3048\u307e\u3059\u3002\u4eca\u5f8c\u306e\u65e5\u9280\u306e\u653f\u7b56\u6c7a\u5b9a\u306f\u3001\u65e5\u672c\u306e\u7d4c\u6e08\u306e\u307f\u306a\u3089\u305a\u3001\u4e16\u754c\u7684\u306a\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u5371\u6a5f\u3001\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u5931\u6557\u3078\u306e\u6279\u5224<\/span>\u306e\u8b70\u8ad6\u306b\u304a\u3044\u3066\u3001\u91cd\u8981\u306a\u4e8b\u4f8b\u3068\u3057\u3066\u6ce8\u76ee\u3055\u308c\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n

\u653f\u7b56\u5931\u6557\u306e\u8cac\u4efb\u3068\u4eca\u5f8c\u306e\u5c55\u671b<\/h2>\n

\u73fe\u5728\u306e\u7d4c\u6e08\u72b6\u6cc1\u3092\u9451\u307f\u308b\u3068\u3001\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u306b\u306f\u3001\u7d50\u679c\u3068\u3057\u3066\u300c\u5931\u6557\u300d\u3068\u8a55\u4fa1\u3055\u308c\u308b\u5074\u9762\u304c\u3042\u308b\u3053\u3068\u306f\u5426\u5b9a\u3067\u304d\u307e\u305b\u3093\u3002\u3057\u304b\u3057\u3001\u305d\u306e\u8cac\u4efb\u306f\u4e2d\u592e\u9280\u884c\u306e\u307f\u306b\u3042\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u653f\u5e9c\u306e\u8ca1\u653f\u653f\u7b56\u3001\u56fd\u969b\u7684\u306a\u5354\u529b\u4f53\u5236\u3001\u305d\u3057\u3066\u4e88\u671f\u305b\u306c\u5916\u90e8\u30b7\u30e7\u30c3\u30af\u306a\u3069\u3001\u69d8\u3005\u306a\u8981\u56e0\u304c\u8907\u96d1\u306b\u7d61\u307f\u5408\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u30d1\u30f3\u30c7\u30df\u30c3\u30af\u6642\u306e\u653f\u5e9c\u306b\u3088\u308b\u5927\u898f\u6a21\u306a\u8ca1\u653f\u51fa\u52d5\u306f\u3001\u7d4c\u6e08\u3092\u652f\u3048\u308b\u4e0a\u3067\u4e0d\u53ef\u6b20\u3067\u3057\u305f\u304c\u3001\u540c\u6642\u306b\u9700\u8981\u3092\u62bc\u3057\u4e0a\u3052\u3001\u30a4\u30f3\u30d5\u30ec\u5727\u529b\u306e\u4e00\u56e0\u3068\u306a\u308a\u307e\u3057\u305f\u3002\u4e2d\u592e\u9280\u884c\u3068\u653f\u5e9c\u306e\u653f\u7b56\u5354\u8abf\u306f\u91cd\u8981\u3067\u3059\u304c\u3001\u305d\u308c\u305e\u308c\u306e\u5f79\u5272\u3068\u72ec\u7acb\u6027\u3092\u3069\u306e\u3088\u3046\u306b\u7dad\u6301\u3059\u308b\u304b\u304c\u5e38\u306b\u8ab2\u984c\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n

\u4e2d\u592e\u9280\u884c\u306e\u72ec\u7acb\u6027\u3068\u653f\u6cbb\u7684\u5727\u529b<\/h3>\n

\u4e2d\u592e\u9280\u884c\u306e\u72ec\u7acb\u6027\u306f\u3001\u653f\u6cbb\u7684\u4ecb\u5165\u304b\u3089\u81ea\u7531\u306a\u7acb\u5834\u3067\u7269\u4fa1\u5b89\u5b9a\u3068\u3044\u3046\u4f7f\u547d\u3092\u679c\u305f\u3059\u4e0a\u3067\u6975\u3081\u3066\u91cd\u8981\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u5371\u6a5f\u304c\u6df1\u523b\u5316\u3059\u308b\u4e2d\u3067\u3001\u4e2d\u592e\u9280\u884c\u306f\u56fd\u6c11\u3084\u653f\u6cbb\u5bb6\u304b\u3089\u306e\u5f37\u3044\u6279\u5224\u3084\u671f\u5f85\u306b\u76f4\u9762\u3057\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u72b6\u6cc1\u4e0b\u3067\u3001\u77ed\u671f\u7684\u306a\u653f\u6cbb\u7684\u5229\u76ca\u306b\u6d41\u3055\u308c\u305a\u3001\u9577\u671f\u7684\u306a\u8996\u70b9\u306b\u7acb\u3063\u3066\u9069\u5207\u306a\u653f\u7b56\u3092\u6253\u3061\u51fa\u3059\u3053\u3068\u306f\u3001\u6975\u3081\u3066\u56f0\u96e3\u306a\u3053\u3068\u3067\u3059\u3002<\/p>\n

\u591a\u304f\u306e\u5c02\u9580\u5bb6\u306f\u3001\u4e2d\u592e\u9280\u884c\u304c\u904e\u53bb\u306e\u6559\u8a13\u304b\u3089\u5b66\u3073\u3001\u3088\u308a\u30c7\u30fc\u30bf\u306b\u57fa\u3065\u3044\u305f\u3001\u305d\u3057\u3066\u5148\u884c\u304d\u306e\u4e0d\u78ba\u5b9f\u6027\u306b\u5bfe\u5fdc\u3067\u304d\u308b\u67d4\u8edf\u306a\u653f\u7b56\u30d5\u30ec\u30fc\u30e0\u30ef\u30fc\u30af\u3092\u69cb\u7bc9\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u3068\u6307\u6458\u3057\u3066\u3044\u307e\u3059\u3002\u4f8b\u3048\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u30bf\u30fc\u30b2\u30c3\u30c8\u306e\u67d4\u8edf\u306a\u904b\u7528\u3084\u3001\u4f9b\u7d66\u30b5\u30a4\u30c9\u306e\u30b7\u30e7\u30c3\u30af\u306b\u5bfe\u3059\u308b\u653f\u7b56\u5bfe\u5fdc\u306e\u3042\u308a\u65b9\u306a\u3069\u3001\u8b70\u8ad6\u3059\u3079\u304d\u70b9\u306f\u591a\u5c90\u306b\u308f\u305f\u308a\u307e\u3059\u3002<\/p>\n

\u56fd\u969b\u5354\u8abf\u306e\u91cd\u8981\u6027\uff1a\u4e16\u754c\u7684\u306a\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u5371\u6a5f\u3001\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u5931\u6557\u3078\u306e\u6279\u5224\u3092\u4e57\u308a\u8d8a\u3048\u308b\u305f\u3081\u306b<\/h3>\n

\u73fe\u5728\u306e\u4e16\u754c\u7684\u306a\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306f\u3001\u4e00\u56fd\u3060\u3051\u3067\u89e3\u6c7a\u3067\u304d\u308b\u554f\u984c\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u4e3b\u8981\u56fd\u306e\u4e2d\u592e\u9280\u884c\u3084\u653f\u5e9c\u9593\u306e\u56fd\u969b\u5354\u8abf\u304c\u4e0d\u53ef\u6b20\u3067\u3059\u3002\u4f8b\u3048\u3070\u3001\u70ba\u66ff\u30ec\u30fc\u30c8\u306e\u5b89\u5b9a\u5316\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u5e02\u5834\u306e\u5b89\u5b9a\u5316\u3001\u305d\u3057\u3066\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u306e\u5f37\u976d\u5316\u306b\u5411\u3051\u305f\u5354\u529b\u306a\u3069\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002IMF\u3084\u4e16\u754c\u9280\u884c\u306a\u3069\u306e\u56fd\u969b\u6a5f\u95a2\u304c\u679c\u305f\u3059\u5f79\u5272\u3082\u3001\u307e\u3059\u307e\u3059\u91cd\u8981\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u307e\u305f\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u69cb\u9020\u7684\u306a\u8981\u56e0\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306b\u306f\u3001\u91d1\u878d\u653f\u7b56\u3060\u3051\u3067\u306a\u304f\u3001\u8ca1\u653f\u653f\u7b56\u3001\u7523\u696d\u653f\u7b56\u3001\u52b4\u50cd\u653f\u7b56\u306a\u3069\u3001\u591a\u5c90\u306b\u308f\u305f\u308b\u653f\u7b56\u306e\u9023\u643a\u304c\u5fc5\u8981\u3067\u3059\u3002\u4f8b\u3048\u3070\u3001\u4f9b\u7d66\u80fd\u529b\u3092\u5897\u5f37\u3059\u308b\u305f\u3081\u306e\u6295\u8cc7\u4fc3\u9032\u3001\u52b4\u50cd\u5e02\u5834\u306e\u6d41\u52d5\u6027\u5411\u4e0a\u3001\u305d\u3057\u3066\u30a8\u30cd\u30eb\u30ae\u30fc\u8ee2\u63db\u3078\u306e\u5186\u6ed1\u306a\u79fb\u884c\u306a\u3069\u304c\u6319\u3052\u3089\u308c\u307e\u3059\u3002<\/p>\n

\u7d50\u8ad6\uff1a\u672a\u6765\u3078\u306e\u6559\u8a13\u3068\u884c\u52d5\u306e\u547c\u3073\u304b\u3051<\/h2>\n

\u73fe\u5728\u306e\u4e16\u754c\u7684\u306a\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u666f\u6c17\u5f8c\u9000\u306e\u5371\u6a5f\u3001\u4e3b\u8981\u56fd\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u5931\u6557\u3078\u306e\u6279\u5224<\/span>\u306f\u3001\u73fe\u4ee3\u7d4c\u6e08\u306b\u304a\u3051\u308b\u4e2d\u592e\u9280\u884c\u306e\u5f79\u5272\u306e\u8907\u96d1\u3055\u3068\u3001\u653f\u7b56\u6c7a\u5b9a\u306e\u96e3\u3057\u3055\u3092\u6d6e\u304d\u5f6b\u308a\u306b\u3057\u3066\u3044\u307e\u3059\u3002\u30d1\u30f3\u30c7\u30df\u30c3\u30af\u3001\u5730\u653f\u5b66\u7684\u7dca\u5f35\u3001\u305d\u3057\u3066\u69cb\u9020\u7684\u5909\u5316\u304c\u91cd\u306a\u308b\u4e2d\u3067\u3001\u904e\u53bb\u306e\u7d4c\u6e08\u30e2\u30c7\u30eb\u3084\u653f\u7b56\u5bfe\u5fdc\u304c\u5e38\u306b\u6709\u52b9\u3067\u3042\u308b\u3068\u306f\u9650\u308a\u307e\u305b\u3093\u3002<\/p>\n

\u79c1\u305f\u3061\u306f\u3001\u3053\u306e\u5371\u6a5f\u304b\u3089\u91cd\u8981\u306a\u6559\u8a13\u3092\u5b66\u3076\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002\u4e2d\u592e\u9280\u884c\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u5146\u5019\u3092\u3088\u308a\u65e9\u671f\u306b\u6349\u3048\u3001\u5e02\u5834\u3068\u306e\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u3092\u5f37\u5316\u3057\u3001\u67d4\u8edf\u304b\u3064\u65ad\u56fa\u305f\u308b\u884c\u52d5\u3092\u53d6\u308b\u3079\u304d\u3067\u3042\u308b\u3068\u3044\u3046\u70b9\u3067\u3059\u3002\u307e\u305f\u3001\u653f\u5e9c\u306f\u3001\u8ca1\u653f\u898f\u5f8b\u3092\u7dad\u6301\u3057\u3064\u3064\u3001\u4f9b\u7d66\u30b5\u30a4\u30c9\u306e\u8ab2\u984c\u89e3\u6c7a\u306b\u5411\u3051\u305f\u69cb\u9020\u6539\u9769\u3092\u9032\u3081\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002\u56fd\u969b\u793e\u4f1a\u5168\u4f53\u3067\u306e\u5354\u529b\u3082\u4e0d\u53ef\u6b20\u3067\u3059\u3002<\/p>\n

\u3053\u306e\u8907\u96d1\u306a\u7d4c\u6e08\u72b6\u6cc1\u3092\u7406\u89e3\u3059\u308b\u3053\u3068\u306f\u3001\u79c1\u305f\u3061\u4e00\u4eba\u3072\u3068\u308a\u304c\u8ce2\u660e\u306a\u7d4c\u6e08\u7684\u5224\u65ad\u3092\u4e0b\u3059\u4e0a\u3067\u6975\u3081\u3066\u91cd\u8981\u3067\u3059\u3002\u4eca\u5f8c\u306e\u7d4c\u6e08\u52d5\u5411\u306b\u6ce8\u76ee\u3057\u3001\u4e2d\u592e\u9280\u884c\u3084\u653f\u5e9c\u306e\u653f\u7b56\u6c7a\u5b9a\u306b\u5bfe\u3057\u3066\u5efa\u8a2d\u7684\u306a\u8b70\u8ad6\u3092\u91cd\u306d\u3066\u3044\u304f\u3053\u3068\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002\u3053\u306e\u30d6\u30ed\u30b0\u8a18\u4e8b\u304c\u3001\u7686\u69d8\u306e\u305d\u3046\u3057\u305f\u8b70\u8ad6\u306e\u4e00\u52a9\u3068\u306a\u308c\u3070\u5e78\u3044\u3067\u3059\u3002\u3082\u3057\u3001\u73fe\u5728\u306e\u7d4c\u6e08\u72b6\u6cc1\u3084\u4e2d\u592e\u9280\u884c\u306e\u653f\u7b56\u306b\u3064\u3044\u3066\u3055\u3089\u306b\u6df1\u304f\u77e5\u308a\u305f\u3044\u5834\u5408\u306f\u3001IMF\u306e\u5831\u544a\u66f8\u3084\u5404\u4e2d\u592e\u9280\u884c\u306e\u516c\u5f0f\u767a\u8868\u3001\u4fe1\u983c\u3067\u304d\u308b\u7d4c\u6e08\u30e1\u30c7\u30a3\u30a2\u306e\u8a18\u4e8b\u306a\u3069\u3092\u53c2\u7167\u3059\u308b\u3053\u3068\u3092\u304a\u52e7\u3081\u3057\u307e\u3059\u3002<\/p>\n

\u3053\u306e\u4e16\u754c\u7684\u306a\u7d4c\u6e08\u306e\u8ee2\u63db\u671f\u3092\u4e57\u308a\u8d8a\u3048\u308b\u305f\u3081\u306b\u3001\u79c1\u305f\u3061\u4e00\u4eba\u3072\u3068\u308a\u304c\u60c5\u5831\u3092\u5f97\u3066\u3001\u8003\u3048\u3001\u884c\u52d5\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002\u3053\u306e\u72b6\u6cc1\u306b\u3064\u3044\u3066\u3042\u306a\u305f\u306e\u610f\u898b\u3092\u30b3\u30e1\u30f3\u30c8\u6b04\u3067\u5171\u6709\u3057\u305f\u308a\u3001\u30bd\u30fc\u30b7\u30e3\u30eb\u30e1\u30c7\u30a3\u30a2\u3067\u3053\u306e\u8a18\u4e8b\u3092\u5171\u6709\u3057\u3066\u8b70\u8ad6\u3092\u5e83\u3052\u305f\u308a\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u8fd1\u5e74\u3001\u4e16\u754c\u7d4c\u6e08\u306f\u304b\u3064\u3066\u306a\u3044\u307b\u3069\u306e\u5909\u52d5\u306b\u76f4\u9762\u3057\u3066\u304a\u308a\u3001\u79c1\u305f\u3061\u306e\u751f\u6d3b\u306b\u5927\u304d\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u3066\u3044\u307e\u3059\u3002\u7279\u306b\u3001\u30d1\u30f3\u30c7\u30df\u30c3\u30af\u304b\u3089\u306e\u56de\u5fa9\u671f\u306b\u304a\u3051\u308b\u9700\u8981\u306e\u6025\u5897\u3001\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u306e\u6df7\u4e71\u3001\u305d\u3057\u3066\u5730\u653f\u5b66\u7684\u306a\u7dca\u5f35\u306a\u3069\u304c\u8907\u5408\u7684\u306b\u4f5c\u7528\u3057\u3001\u30a4\u30f3\u30d5\u30ec\u306f\u9ad8 […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"swell_btn_cv_data":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_wp_rev_ctl_limit":""},"categories":[865],"tags":[],"class_list":["post-8353","post","type-post","status-publish","format-standard","hentry","category-865"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/sdq6S1-18","jetpack-related-posts":[{"id":8361,"url":"https:\/\/blackfire.work\/?p=8361","url_meta":{"origin":8353,"position":0},"title":"\u7c73\u6b27\u306e\u30a4\u30f3\u30d5\u30ec\u5bfe\u7b56\u304c\u4e16\u754c\u7d4c\u6e08\u3092\u7834\u58ca\uff1f\u56fd\u6c11\u8ca0\u62c5\u5897\u5927\u3078\u306e\u56fd\u969b\u7684\u6012\u308a A Warning","author":"","date":"2026\u5e744\u670826\u65e5","format":false,"excerpt":"\u7c73\u6b27\u306e\u4e2d\u592e\u9280\u884c\u304c\u4e3b\u5c0e\u3059\u308b\u30a4\u30f3\u30d5\u30ec\u5bfe\u7b56\u306f\u3001\u4e16\u754c\u7d4c\u6e08\u306b\u5e83\u7bc4\u306a\u5f71\u97ff\u3092\u53ca\u307c\u3057\u3001\u591a\u304f\u306e\u56fd\u3005\u3067\u56fd\u6c11\u306e\u751f\u6d3b\u306b\u91cd\u3044\u8ca0\u2026","rel":"","context":"\u6d77\u5916","block_context":{"text":"\u6d77\u5916","link":"https:\/\/blackfire.work\/?cat=865"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8340,"url":"https:\/\/blackfire.work\/?p=8340","url_meta":{"origin":8353,"position":1},"title":"Accountability: \u5404\u56fd\u3067\u9ad8\u307e\u308b\u30a4\u30f3\u30d5\u30ec\u3068\u5229\u4e0a\u3052\u306e\u7d4c\u6e08\u7684\u82e6\u5883\uff1a\u653f\u6cbb\u5bb6\u305f\u3061\u306e\u8cac\u4efb\u3092\u554f\u3046","author":"","date":"2026\u5e744\u670819\u65e5","format":false,"excerpt":"Accountability: \u5404\u56fd\u3067\u9ad8\u307e\u308b\u30a4\u30f3\u30d5\u30ec\u3068\u5229\u4e0a\u3052\u306e\u7d4c\u6e08\u7684\u82e6\u5883\uff1a\u653f\u6cbb\u5bb6\u305f\u3061\u306e\u8cac\u4efb\u3092\u554f\u3046 \u4e16\u2026","rel":"","context":"\u6d77\u5916","block_context":{"text":"\u6d77\u5916","link":"https:\/\/blackfire.work\/?cat=865"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2480,"url":"https:\/\/blackfire.work\/?p=2480","url_meta":{"origin":8353,"position":2},"title":"\u30a2\u30e1\u30ea\u30ab\u304c\u9665\u308b\u50b5\u52d9\u306e\u7f60\u3002\u5229\u4e0a\u3052\u3067\u81ea\u6ec5\uff1f\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u5165\u308a\u304b\uff1f","author":"blackfire","date":"2022\u5e748\u67087\u65e5","format":false,"excerpt":"\u30a2\u30e1\u30ea\u30ab\u3067\u7d9a\u304f\u30a4\u30f3\u30d5\u30ec\u3068\u5229\u4e0a\u3052 https:\/\/twitter.com\/mugyro_ubereat\u2026","rel":"","context":"\u30d6\u30ed\u30b0","block_context":{"text":"\u30d6\u30ed\u30b0","link":"https:\/\/blackfire.work\/?cat=4"},"img":{"alt_text":"business charts commerce computer","src":"https:\/\/i0.wp.com\/blackfire.work\/wp-content\/uploads\/2022\/02\/pexels-photo-265087.jpeg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/blackfire.work\/wp-content\/uploads\/2022\/02\/pexels-photo-265087.jpeg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/blackfire.work\/wp-content\/uploads\/2022\/02\/pexels-photo-265087.jpeg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/blackfire.work\/wp-content\/uploads\/2022\/02\/pexels-photo-265087.jpeg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/blackfire.work\/wp-content\/uploads\/2022\/02\/pexels-photo-265087.jpeg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/blackfire.work\/wp-content\/uploads\/2022\/02\/pexels-photo-265087.jpeg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":8336,"url":"https:\/\/blackfire.work\/?p=8336","url_meta":{"origin":8353,"position":3},"title":"Topic: \u7c73\u56fd\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u306e\u5229\u4e0a\u3052\u653f\u7b56\u304c\u4e16\u754c\u7d4c\u6e08\u306b\u3082\u305f\u3089\u3059\u8ca0\u306e\u5f71\u97ff\u3078\u306e\u56fd\u969b\u7684\u306a\u6279\u5224","author":"","date":"2026\u5e744\u670818\u65e5","format":false,"excerpt":"\u7c73\u56fd\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff08FRB\uff09\u306e\u91d1\u878d\u653f\u7b56\u306f\u3001\u305d\u306e\u6c7a\u5b9a\u304c\u4e16\u754c\u306e\u91d1\u878d\u5e02\u5834\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u306e\u5927\u304d\u3055\u304b\u3089\u3001\u5e38\u306b\u56fd\u969b\u793e\u2026","rel":"","context":"\u6d77\u5916","block_context":{"text":"\u6d77\u5916","link":"https:\/\/blackfire.work\/?cat=865"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2963,"url":"https:\/\/blackfire.work\/?p=2963","url_meta":{"origin":8353,"position":4},"title":"2023\u5e74\u306f\u4e16\u754c\u7684\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\u3001\u91d1\u3092\u8caf\u3081\u308b\u3057\u304b\u5099\u3048\u308b\u8853\u304c\u306a\u3044\u3001\u3044\u3084\u30a4\u30f3\u30d0\u30fc\u30b9\u3060","author":"blackfire","date":"2022\u5e749\u670816\u65e5","format":false,"excerpt":"\u30ed\u30a4\u30bf\u30fc\u306b\u3088\u308b\u3068 [\u30ef\u30b7\u30f3\u30c8\u30f3 \uff11\uff15\u65e5 \u30ed\u30a4\u30bf\u30fc] - \u4e16\u754c\u9280\u884c\u306f\uff11\uff15\u65e5\u3001\u4e16\u754c\u5404\u56fd\u306e\u4e2d\u592e\u9280\u884c\u304c\u6301\u7d9a\u7684\u2026","rel":"","context":"\u653f\u6cbb","block_context":{"text":"\u653f\u6cbb","link":"https:\/\/blackfire.work\/?cat=8"},"img":{"alt_text":"flag of the usa on a pole","src":"https:\/\/i0.wp.com\/blackfire.work\/wp-content\/uploads\/2022\/04\/pexels-photo-1709929.jpeg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/blackfire.work\/wp-content\/uploads\/2022\/04\/pexels-photo-1709929.jpeg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/blackfire.work\/wp-content\/uploads\/2022\/04\/pexels-photo-1709929.jpeg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/blackfire.work\/wp-content\/uploads\/2022\/04\/pexels-photo-1709929.jpeg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/blackfire.work\/wp-content\/uploads\/2022\/04\/pexels-photo-1709929.jpeg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/blackfire.work\/wp-content\/uploads\/2022\/04\/pexels-photo-1709929.jpeg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":7588,"url":"https:\/\/blackfire.work\/?p=7588","url_meta":{"origin":8353,"position":5},"title":"\u5371\u967a\u3059\u304e\u308b\u9ad8\u5e02\u30c8\u30ec\u30fc\u30c9\u3002\u9996\u76f8\u5c31\u4efb\u524d\u304b\u3089\u5186\u5b89\u304c\u7206\u901f\u3067\u9032\u884c\u3001\u5168\u901a\u8ca8\u306b\u304a\u3044\u3066\u8ca0\u3051\u308b…\u30b5\u30ca\u30a8\u30ce\u30df\u30af\u30b9\u306f\u30c8\u30e9\u30b9\u30b7\u30e7\u30c3\u30af\u3092\u5f15\u304d\u8d77\u3053\u3059\u306e\u304b\uff1f","author":"blackfire","date":"2025\u5e7410\u67086\u65e5","format":false,"excerpt":"\u30b5\u30ca\u30a8\u30ce\u30df\u30af\u30b9\u304c\u3084\u308b\u524d\u304b\u3089\u9813\u632b\u3057\u305d\u3046\u306a\u96f0\u56f2\u6c17\u304c\u6f02\u3063\u3066\u3044\u308b https:\/\/twitter.com\/h\u2026","rel":"","context":"\u307e\u3068\u3081","block_context":{"text":"\u307e\u3068\u3081","link":"https:\/\/blackfire.work\/?cat=949"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/blackfire.work\/index.php?rest_route=\/wp\/v2\/posts\/8353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blackfire.work\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blackfire.work\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/blackfire.work\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8353"}],"version-history":[{"count":0,"href":"https:\/\/blackfire.work\/index.php?rest_route=\/wp\/v2\/posts\/8353\/revisions"}],"wp:attachment":[{"href":"https:\/\/blackfire.work\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blackfire.work\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blackfire.work\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}