![\"豪中銀、4年ぶり利下げ インフレ抑制で進展\"\/](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/02\/DKI5NI5E35JLTNTCG6A7JNNES4.jpg\")
<\/p>\n<\/p>\n
\u3000\u30aa\u30fc\u30b9\u30c8\u30e9\u30ea\u30a2\u6e96\u5099\u9280\u884c\uff08\u4e2d\u592e\u9280\u884c\uff09\u306f\uff11\uff18\u65e5\u3001\u653f\u7b56\u91d1\u5229\u306e\u30aa\u30d5\u30a3\u30b7\u30e3\u30eb\u30ad\u30e3\u30c3\u30b7\u30e5\u30ec\u30fc\u30c8\uff08\uff2f\uff23\uff32\uff09\u3092\uff12\uff15\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\uff08\uff42\uff50\uff09\u5f15\u304d\u4e0b\u3052\u3001\uff14\uff0e\uff11\uff10\uff05\u3068\u3057\u305f\u3002\u5229\u4e0b\u3052\u306f\uff12\uff10\uff12\uff10\u5e74\u4ee5\u6765\u3002\u5199\u771f\u306f\u30b7\u30c9\u30cb\u30fc\u4e2d\u5fc3\u90e8\u306e\u8c6a\u4e2d\u9280\u306e\u5efa\u7269\u3002\uff12\uff10\uff11\uff18\u5e74\uff12\u6708\u64ae\u5f71\uff08\uff12\uff10\uff12\uff15\u5e74\u3000\u30ed\u30a4\u30bf\u30fc\/Daniel Munoz\uff09<\/p>\n
[\u30b7\u30c9\u30cb\u30fc \uff11\uff18\u65e5 \u30ed\u30a4\u30bf\u30fc] – \u30aa\u30fc\u30b9\u30c8\u30e9\u30ea\u30a2\u6e96\u5099\u9280\u884c\uff08\u4e2d\u592e\u9280\u884c\uff09\u306f\uff11\uff18\u65e5\u3001\u7d04\uff14\u5e74\u3076\u308a\u306b\u5229\u4e0b\u3052\u3092\u6c7a\u5b9a\u3057\u305f\u3002\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u3067\u9032\u5c55\u304c\u3042\u3063\u305f\u3068\u3059\u308b\u3082\u306e\u306e\u3001\u30d6\u30ed\u30c3\u30af\u7dcf\u88c1\u306f\u52dd\u5229\u5ba3\u8a00\u306f\u6642\u671f\u5c1a\u65e9\u3068\u8ff0\u3079\u8ffd\u52a0\u5229\u4e0b\u3052\u306e\u8a00\u8cea\u3092\u4e0e\u3048\u306a\u304b\u3063\u305f\u3002<\/p>\n
\u4e2d\u9280\u7406\u4e8b\u4f1a\u306f\u3001\u653f\u7b56\u91d1\u5229\u306e\u30aa\u30d5\u30a3\u30b7\u30e3\u30eb\u30ad\u30e3\u30c3\u30b7\u30e5\u30ec\u30fc\u30c8\uff08\uff2f\uff23\uff32\uff09\u3092\uff12\uff15\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\uff08\uff42\uff50\uff09\u5f15\u304d\u4e0b\u3052\u3001\uff14\uff0e\uff11\uff10\uff05\u3068\u3059\u308b\u3053\u3068\u3092\u6c7a\u5b9a\u3057\u305f\u3002\u5229\u4e0b\u3052\u306f\uff12\uff10\uff12\uff10\u5e74\uff11\uff11\u6708\u4ee5\u6765\u3002<\/p>\n
\uff12\uff10\uff12\uff14\u5e74\u7b2c\uff14\u30fb\u56db\u534a\u671f\u306e\u30b3\u30a2\u30a4\u30f3\u30d5\u30ec\u7387\u304c\uff13\uff0e\uff12\uff05\u306b\u920d\u5316\u3057\u305f\u3053\u3068\u304b\u3089\u3001\u5e02\u5834\u3067\u306f\uff12\uff15\uff42\uff50\u306e\u5229\u4e0b\u3052\u304c\u5e83\u304f\u4e88\u60f3\u3055\u308c\u3066\u3044\u305f\u3002<\/p>\n
\u4e2d\u9280\u306f\u58f0\u660e\u3067\u300c\u672c\u65e5\u306e\u653f\u7b56\u6c7a\u5b9a\u306f\u30a4\u30f3\u30d5\u30ec\u306b\u95a2\u3059\u308b\u6b53\u8fce\u3059\u3079\u304d\u9032\u5c55\u3092\u8a8d\u8b58\u3057\u305f\u3082\u306e\u3060\u304c\u3001\u7406\u4e8b\u4f1a\u306f\u3055\u3089\u306a\u308b\u653f\u7b56\u7de9\u548c\u306e\u898b\u901a\u3057\u306b\u3064\u3044\u3066\u5f15\u304d\u7d9a\u304d\u614e\u91cd\u3060\u300d\u3068\u8868\u660e\u3002<\/p>\n
\u300c\u52b4\u50cd\u5e02\u5834\u304c\u5f93\u6765\u8003\u3048\u3089\u308c\u3066\u3044\u305f\u3088\u308a\u3082\u5e7e\u5206\u30bf\u30a4\u30c8\u306b\u306a\u3063\u3066\u3044\u308b\u53ef\u80fd\u6027\u3092\u793a\u5506\u3057\u3066\u3044\u308b\u300d\u3068\u3057\u3001\u96c7\u7528\u306e\u5f37\u3055\u306b\u8d77\u56e0\u3059\u308b\u30a4\u30f3\u30d5\u30ec\u4e0a\u65b9\u30ea\u30b9\u30af\u3092\u6307\u6458\u3057\u305f\u3002\u300c\u7406\u4e8b\u4f1a\u306e\u8a55\u4fa1\u306f\u3001\u91d1\u878d\u653f\u7b56\u306f\u5236\u7d04\u7684\u3067\u3042\u308a\u3001\u4eca\u56de\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30ec\u30fc\u30c8\u5f15\u304d\u4e0b\u3052\u5f8c\u3082\u305d\u3046\u3042\u308a\u7d9a\u3051\u308b\u3068\u3044\u3046\u3082\u306e\u3060\u300d\u3068\u3057\u305f\u3002<\/p>\n
\u3053\u306e\u65e5\u767a\u8868\u3057\u305f\u7d4c\u6e08\u4e88\u6e2c\u3067\u306f\u3001\u57fa\u8abf\u30a4\u30f3\u30d5\u30ec\u306f\u5f93\u6765\u4e88\u60f3\u3088\u308a\u3082\u901f\u3044\u30da\u30fc\u30b9\u3067\u4e0b\u843d\u3059\u308b\u3082\u306e\u306e\u3001\u52b4\u50cd\u5e02\u5834\u306e\u903c\u8feb\u3067\u7269\u4fa1\u4e0a\u6607\u5727\u529b\u304c\u9577\u5f15\u304f\u3068\u3057\u4e88\u60f3\u3002\u5931\u696d\u7387\u4e88\u60f3\u306f\u5f15\u304d\u4e0b\u3052\u305f\u3002<\/p>\n
\u58f0\u660e\u306f\u3001\u3053\u306e\u4e88\u6e2c\u3092\u8e0f\u307e\u3048\u300c\u91d1\u878d\u7de9\u548c\u304c\u65e9\u3059\u304e\u308c\u3070\u3001\u30c7\u30a3\u30b9\u30a4\u30f3\u30d5\u30ec\u304c\u505c\u6ede\u3057\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u76ee\u6a19\u30ec\u30f3\u30b8\u306e\u4e2d\u9593\u5024\u3092\u8d85\u3048\u3066\u843d\u3061\u7740\u304f\u53ef\u80fd\u6027\u304c\u3042\u308b\u300d\u3068\u6307\u6458\u3057\u305f\u3002 <\/p>\n
![\"This](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/02\/1739934432_713_chart.png\")
This chart depicts the RBA cash rate and Australia’s trimmed mean inflation (with target inflation range).<\/p>\n
\uff1c\u5e02\u5834\u306e\u5229\u4e0b\u3052\u89b3\u6e2c\u3092\u3051\u3093\u5236\uff1e<\/p>\n
\u4e2d\u9280\u306e\u30d6\u30ed\u30c3\u30af\u7dcf\u88c1\u306f\u4f1a\u898b\u3067\u3001\u30a4\u30f3\u30d5\u30ec\u306b\u5bfe\u3059\u308b\u52dd\u5229\u5ba3\u8a00\u306f\u6642\u671f\u5c1a\u65e9\u3067\u3001\u8ffd\u52a0\u5229\u4e0b\u3052\u3059\u308b\u306b\u306f\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306b\u3055\u3089\u306a\u308b\u9032\u5c55\u304c\u898b\u3089\u308c\u308b\u5fc5\u8981\u304c\u3042\u308b\u3068\u306e\u8a8d\u8b58\u3092\u793a\u3057\u305f\u3002<\/p>\n
\u5e02\u5834\u304c\u5e74\u5185\u3042\u3068\uff12\u56de\u306e\uff12\uff15\uff42\uff50\u5229\u4e0b\u3052\u306e\u53ef\u80fd\u6027\u3092\u7e54\u308a\u8fbc\u3093\u3067\u3044\u308b\u3053\u3068\u306b\u3064\u3044\u3066\u300c\u672c\u65e5\u306e\u6c7a\u5b9a\u306f\u3001\u5e02\u5834\u304c\u793a\u5506\u3059\u308b\u901a\u308a\u306e\u5229\u4e0b\u3052\u304c\u5c06\u6765\u884c\u308f\u308c\u308b\u3053\u3068\u3092\u610f\u5473\u3059\u308b\u308f\u3051\u3067\u306a\u3044\u3053\u3068\u3092\u660e\u78ba\u306b\u3057\u3066\u304a\u304d\u305f\u3044\u300d\u3068\u8ff0\u3079\u3001\u5e02\u5834\u306e\u7e54\u308a\u8fbc\u307f\u306f\u300c\u975e\u73fe\u5b9f\u7684\u300d\u3068\u6307\u6458\u3057\u305f\u3002<\/p>\n
\u300c\u7406\u4e8b\u4f1a\u306f\u5c06\u6765\u306b\u3064\u3044\u3066\u6c7a\u5b9a\u3092\u4e0b\u3059\u524d\u306b\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u5f15\u304d\u7d9a\u304d\u4f4e\u4e0b\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u793a\u3059\u3055\u3089\u306a\u308b\u30c7\u30fc\u30bf\u3092\u5fc5\u8981\u3068\u3057\u3066\u3044\u308b\u300d\u3068\u8ff0\u3079\u305f\u3002<\/p>\n
\u30b9\u30ef\u30c3\u30d7\u5e02\u5834\u304c\u793a\u5506\u3059\u308b\uff14\u6708\u306e\u8ffd\u52a0\u5229\u4e0b\u3052\u306e\u78ba\u7387\u306f\uff11\uff18\uff05\u306b\u3068\u3069\u307e\u308b\u304c\u3001\uff15\u6708\u5229\u4e0b\u3052\u306f\u307b\u307c\uff11\uff10\uff10\uff05\u7e54\u308a\u8fbc\u3093\u3067\u3044\u308b\u3002 <\/p>\n
\u30b3\u30e2\u30f3\u30a6\u30a7\u30eb\u30b9\u9280\u884c\u306e\u8c6a\u7d4c\u6e08\u90e8\u9580\u8cac\u4efb\u8005\u30ac\u30ec\u30b9\u30fb\u30a8\u30a2\u30c9\u6c0f\u306f\u3001\u4eca\u56de\u306e\u5229\u4e0b\u3052\u306f\u300c\u666f\u6c17\u306e\u30a2\u30af\u30bb\u30eb\u3092\u8e0f\u3080\u3068\u3044\u3046\u3088\u308a\u3001\u30d6\u30ec\u30fc\u30ad\u3092\u7de9\u3081\u308b\u3053\u3068\u306b\u8fd1\u3044\u300d\u3068\u6307\u6458\u3002\u300c\u5931\u696d\u7387\u304c\u4f4e\u3044\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u653f\u7b56\u91d1\u5229\u306e\u6b63\u5e38\u5316\u3092\u3086\u3063\u304f\u308a\u9032\u3081\u308b\u3053\u3068\u304c\u53ef\u80fd\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u300d\u3068\u8ff0\u3079\u308b\u4e00\u65b9\u3001\u52b4\u50cd\u5e02\u5834\u304c\u60aa\u5316\u3059\u308c\u3070\uff14\u6708\u5229\u4e0b\u3052\u306e\u53ef\u80fd\u6027\u3082\u6392\u9664\u3067\u304d\u306a\u3044\u3068\u3057\u305f\u3002<\/p>\n
\u30ad\u30e3\u30d4\u30bf\u30eb\u30fb\u30a8\u30b3\u30ce\u30df\u30af\u30b9\u306e\uff21\uff30\uff21\uff23\uff08\u30a2\u30b8\u30a2\u592a\u5e73\u6d0b\u5730\u57df\uff09\u62c5\u5f53\u30b7\u30cb\u30a2\u30a8\u30b3\u30ce\u30df\u30b9\u30c8\u3001\u30a2\u30d3\u30b8\u30c3\u30c8\u30fb\u30b9\u30ea\u30e4\u6c0f\u306f\u3001\u73fe\u5728\u306e\u7de9\u548c\u30b5\u30a4\u30af\u30eb\u3067\u306f\u3042\u3068\uff12\u56de\u3057\u304b\u5229\u4e0b\u3052\u3092\u884c\u308f\u306a\u3044\u3060\u308d\u3046\u3068\u4e88\u60f3\u3002\u300c\u4e2d\u9280\u306f\u3001\u5bb6\u8a08\u6d88\u8cbb\u3068\u3088\u308a\u5e83\u7bc4\u306a\u7d4c\u6e08\u6d3b\u52d5\u306e\u56de\u5fa9\u3092\u5f15\u304d\u7d9a\u304d\u898b\u8fbc\u3093\u3067\u304a\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u4e0a\u6607\u5727\u529b\u304c\u4e2d\u671f\u7684\u306b\u6301\u7d9a\u3059\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3068\u8003\u3048\u3066\u3044\u308b\u300d\u3068\u8ff0\u3079\u305f\u3002<\/p>\n
\u5229\u4e0b\u3052\u3092\u53d7\u3051\u3001\u56fd\u5185\u4e3b\u8981\uff14\u884c\u3082\u9810\u8cb8\u91d1\u5229\u306e\u5f15\u304d\u4e0b\u3052\u3092\u767a\u8868\u3057\u305f\u3002<\/p>\n
\u30c1\u30e3\u30fc\u30de\u30fc\u30ba\u8ca1\u52d9\u76f8\u306f\u4f1a\u898b\u3067\u3001\u5229\u4e0b\u3052\u306f\u56fd\u6c11\u306b\u3055\u3089\u306a\u308b\u6551\u6e08\u3092\u63d0\u4f9b\u3059\u308b\u300c\u6b53\u8fce\u3059\u3079\u304d\u4e00\u6b69\u300d\u3060\u3068\u8ff0\u3079\u305f\u3002<\/p>\n
\u30aa\u30fc\u30b9\u30c8\u30e9\u30ea\u30a2\u3067\u306f\uff15\u6708\uff11\uff17\u65e5\u307e\u3067\u9078\u6319\u304c\u5b9f\u65bd\u3055\u308c\u308b\u4e88\u5b9a\u3002\u82e6\u6226\u304c\u4e88\u60f3\u3055\u308c\u308b\u30a2\u30eb\u30d0\u30cb\u30fc\u30b8\u30fc\u9996\u76f8\u304c\u5229\u4e0b\u3052\u3092\u8ffd\u3044\u98a8\u306b\u65e9\u671f\u306e\u9078\u6319\u3092\u5b9f\u65bd\u3059\u308b\u3068\u306e\u89b3\u6e2c\u3082\u51fa\u3066\u3044\u308b\u3002<\/p>\n
![\"The](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/02\/1739934434_139_graphic.jpg\")
The dot plot shows the policy rates of the G10 central banks on March 1, 2024 and Jan 30, 2025. The dot plot shows the policy rates of the G10 central banks on March 1, 2024 and Feb. 18, 2025.<\/p>\n
\u79c1\u305f\u3061\u306e\u884c\u52d5\u898f\u7bc4\uff1a\u30c8\u30e0\u30bd\u30f3\u30fb\u30ed\u30a4\u30bf\u30fc\u300c\u4fe1\u983c\u306e\u539f\u5247\u300d, opens new tab<\/p>\n","protected":false},"excerpt":{"rendered":"
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