ONE OF THESE MEMBERS SAID 日本語意味 - 日本語訳

One of these members said that the extremely hot weather was expected to have positive effects on private consumption.

このうち、ひとりの委員は、猛暑が個人消費にプラスに寄与することが期待される、と述べた。

One of these members said that land prices had not stopped falling and the financial condition of life insurance companies was deteriorating.

このうちひとりの委員は、地価が下げ止まっていないうえ、生保の経営状況も悪化している、と述べた。

One of these members said that the NPL problem of regional financial institutions and its effects on regional economies required close monitoring.

このうちひとりの委員は、地域金融機関の不良債権問題やその地方経済への影響にも留意すべきである、と発言した。

One of these members said that the possibility could not be ruled out that developments in consumer prices might not be in line with developments in the economy.

このうちひとりの委員は、消費者物価が景気情勢との関連付けが乏しいままに動く可能性も否定できない、と述べた。

One of these members said that corporate restructuring had been progressing and the deterioration in employment conditions would come to a halt in the near future.

このうち、ひとりの委員は、企業のリストラは進展し、雇用情勢の悪化にはそろそろ歯止めが掛かり始めるのではないか、と発言した。

One of these members said that, in addition to the improvement in production, the recovery in business fixed investment had started to spread to a wide variety of industries.

このうちのひとりの委員は、生産活動に加えて設備投資についても、幅広い業種に波及しつつあると発言した。

One of these members said that these rather optimistic forecasts should be viewed with caution as they were at odds with the pessimistic business sentiment seen in the same survey.

このうちひとりの委員は、こうした楽観的な見通しは、業況判断の悲観的な見方と乖離がある点にも留意する必要がある、と付け加えた。

One of these members said that developments in the markets since the previous meeting seemed to indicate that market participants had gradually been factoring in changes in the economic situation.

このうち、ひとりの委員は、前回会合以降の市場動向をみると、マーケットは最近の経済情勢の変化を次第に消化しつつあると考えてよいのではないか、と述べた。

One of these members said that Japanese stock prices seemed to have started to factor in possible deceleration in the growth of corporate profits resulting from an economic slowdown in the near future.

このうち、ひとりの委員は、わが国の株価は、先行きの景気減速に伴う企業収益の伸び悩みを織り込み始めていると考えられる、と述べた。

One of these members said that the recent fall in stock prices was attributable to rumors and market participants' nervousness and did not necessarily reflect the fundamentals of Japan's economy.

そのうちのひとりの委員は、このところの株価下落は、必ずしも日本経済の実態を反映しない形で、風評や不安心理によって進んでいる面があると指摘した。

One of these members said that the weak yen might reduce firms' incentive to restructure and improve their productivity, but in the short term it could have positive effects on corporate profits and prices.

そのうち、ある委員は、円安は企業のリストラや生産性向上のインセンティブを阻害するおそれがあるが、短期的には、企業収益や物価にプラスに作用する面がある、との見解を示した。

One of these members said that it should be assumed that the pace of increase in prices would be moderate, since there were considerable uncertainties regarding changes in people's perception of prices.

このうちの一人の委員は、人々の物価観の変化については不確実性が高いため、物価の上昇テンポは緩やかなものになると考えておくべきと述べた。

One of these members said, however, that developments in stock prices would require careful monitoring because the situation might change if stock prices remained weak until the end of fiscal 2000.

もっとも、このうちのひとりの委員は、株価の低迷が年度末まで続くような場合には状況が変化しうるので、今後の動向については、注意深く点検していく必要があるとの認識を付け加えた。

One of these members said that moves by banks to secure interest margins that reflected firms' creditworthiness had intensified since this summer, and it should be noted that this might lead to a"credit crunch" for small firms.

このうちひとりの委員は、夏場頃から銀行による企業の信用度などに応じた利鞘確保の動きが広がっており、中小企業への貸渋りにつながる可能性には留意する必要があると述べた。

One of these members said that although a significant improvement could not be expected, it was becoming less likely that private consumption would decrease given these developments in the employment and income situation.

このうちひとりの委員は、こうした雇用・所得環境の動きからみて、個人消費は顕著な増加は期待し難いとはいえ、先行き減少する可能性は小さくなっているのではないか、との見方を述べた。

One of these members said that, if the Bank increased the outright purchases of long-term JGBs at this point, it might become necessary to change the concept of the purchases in order to clarify the aim of the increase.

このうちひとりの委員は、今買い入れを増額する場合には、何を目的にするのか明らかにする意味で買い入れのコンセプトの変更も必要となるのではないかと述べた。

One of these members said that prices of commodities, including crude oil, and materials had become inflated due to shortages on the supply side caused by limited spare production capacity, and were likely to continue rising for some time.

このうち、ある委員は、原油を含む原料や素材は、生産能力の限界を背景とするボトルネック・インフレの状況にあり、価格上昇は当面継続する可能性が高いとの見方を示した。

One of these members said that inventory adjustments would inevitably be protracted as excess capacity had become evident, and the recent increase in funds demand for inventory financing was hampering firms' efforts to squeeze debt.

このうちひとりの委員は、過剰能力の顕在化が著しく、在庫調整は長引かざるを得ず、さらに、ここにきて在庫ファイナンスのための資金需要が増加していることから、債務圧縮にもブレーキがかかっている、と述べた。

One of these members said that, although exports had started to increase, the recovery in production had been delayed slightly due partly to the cool summer. Recently, however, production was increasing rapidly, at a pace fast enough to make up for the delay.

このうちひとりの委員は、これまで、輸出が増加に転じる中で、生産の回復は冷夏の影響もあってやや遅行していたが、足許の生産はこれまでの立ち上がりの遅れを取り戻すテンポで増加している、と述べた。

One of these members said that investors such as life insurance companies were reducing the weight of their investment in short-term financial assets because money market interest rates had declined to levels at which they were unable to cover transaction costs.

このうち、ある委員は、短期金利が取引コストを賄えないほどにまで低下しているため、生保などの投資家の中にも、短期金融商品での運用比率を引き下げる動きがみられる、と述べた。

One of these members said that the Bank had already adopted inflation targeting policy in a broad sense, in that it made a commitment to continue the quantitative easing measure until the consumer price index registered stably zero percent or an increase year on year.

このうちひとりの委員は、「CPIインフレ率が安定的にゼロ以上になるまで量的緩和を続ける」という現行政策によって、日本銀行は既に、広い意味でのインフレ・ターゲティングを採用していると解釈できる、と述べた。

One of these members said that wholesale prices were likely to move sideways and consumer prices were likely to remain on a modest downtrend, and in such a situation, the rise in corporate earnings and the slight increase in employees' income were expected to continue.

そのうちひとりの委員は、当面、卸売物価は横這い、消費者物価はやや弱含みという状態が続くと思われるが、そうした物価動向のもとで、企業収益の増加、雇用者所得の微増という動きが継続すると見込まれる、と述べた。

One of these members said that strong concerns over availability of liquidity and fund-raising conditions as seen in 1997-98 had been prevented to a considerable extent due to the current strong monetary easing, but the market's concern about credit risk was mounting.

このうちのひとりの委員は、現在の強力な金融緩和策のもとで、97〜98年にみられたような流動性や資金繰りに対する懸念はかなり抑え込まれているが、信用リスクに対する警戒感は相当強まっている、との見方を示した。

One of these members said that a virtuous circle might have started to operate: technological innovation, particularly in the area of digital appliances, might have started to stimulate consumption, and this might lead to increases in production and business fixed investment.

このうちのある委員は、デジタル家電を中心とした技術革新が国内消費を刺激し、それが生産や設備投資の増加に繋がるという好循環が生じ始めている可能性があるとして、先行き消費性向の上昇が継続するか注目したい、と付け加えた。

One of these members said that there was an increasing risk of the economy deteriorating after the current lull, and thus the Bank should change its view of economic and financial developments for February decided at the previous meeting as it did not properly reflect the actual situation.

このうち、ある委員は、景気が踊り場の状態から後戻りするリスクが強まっている点を踏まえると、前回会合で決定した当月の基本的見解の認識では甘く、それを改めるべきだと主張した。

One of these members said that, in light of the fact that Japan's financial institutions had been increasing investment in foreign currency-denominated bonds, it was important to fully grasp the effects of the fluctuations in global financial markets on financial institutions' financial conditions.

このうちの一人の委員は、わが国の金融機関が外債投資を増やしてきたことを踏まえると、国際金融市場の変動が金融機関の財務状況に与える影響も、しっかりと把握していくことが重要であると述べた。

One of these members said that some firms had adopted a business strategy giving priority to raising the prices of their products or services in line with industrial reorganization, and a breakdown by type of goods showed that the number of goods whose prices had stopped declining was gradually increasing.

このうちひとりの委員は、企業再編が進む中で、一部の企業では、価格回復を優先させる経営戦略を採っており、財別にみても、下落が止まる財が少しずつ増えてきていると述べた。

One of these members said that financial institutions were assumed to be deciding their lending and business policies based on an accurate assessment of the situation of financially troubled firms. Therefore, the lending attitude of financial institutions was unlikely to be affected seriously.

このうち一人の委員は、金融機関は、問題企業の状況をかなり正確に把握した上で、経営方針・融資方針を決めているはずなので、金融機関の信用供与の面で大きな影響が起こる可能性は小さいとの評価を示した。

One of these members said that past experience had proved that the ratioof job offers to applicants was the most reliable statistic among those relating to employment, which tended to be volatile. This member continued that the improvement in this ratio indicated that the employment situation had started to head toward improvement.

このうちのひとりの委員は、雇用関連統計は振れが大きいが、過去の経験では有効求人倍率の確度が最も高く、その改善傾向を踏まえると、雇用情勢は、徐々に改善の方向に向かい始めたと判断できる、との見解を明らかにした。

One of these members said that since interest rates fluctuated reflecting market participants' outlook for economic activity and prices as well as their expectations about the Bank's conduct of monetary policy, to ensure smooth formation of interest rates it was extremely important that the Bank did not misjudge the appropriate timing in conducting monetary policy.

このうちひとりの委員は、市場金利は先行きの経済物価見通しや政策運営の予想によって変動するため、円滑な金利形成のためには、政策運営のタイミングを誤らないことが何よりも大事であると指摘した。