THE UNDERLYING TREND IN INFLATION 日本語 意味 - 日本語訳 - 英語の例文

• 物価の基調
• 基調的な物価上昇率は

英語 での The underlying trend in inflation の使用例とその 日本語 への翻訳

The underlying trend in inflation has also been improving steadily.
また、物価の基調も着実に改善しています。

Nevertheless, we are of the view that the underlying trend in inflation will rise steadily.
しかし、物価の基調は着実に高まっていくとみています。

Third, the underlying trend in inflation has clearly improved Chart 2.
第三に、物価の基調も明確に改善しています(図表2)。

Reflecting this turnaround in the economy, the underlying trend in inflation has also steadily increased.
こうした経済の好転を受けて、物価の基調も着実に高まってきました。

Nevertheless, the underlying trend in inflation has steadily improved, excluding the effects of the decline in energy prices.
もっとも、エネルギー価格の影響を除いてみると、物価の基調は着実に改善しています。

To begin with, I would like to touch on the relationship between the price stability target of 2 percent and the underlying trend in inflation.
まず、2%の「物価安定の目標」と「物価の基調」の関係について確認しておきます。

Nonetheless, the Bank is of the view that the underlying trend in inflation has been improving steadily.
もっとも、日本銀行では、「物価の基調」は着実に改善しているとみています。

However, when assessing price developments at each point in time, there is a need to exclude the effects stemming from the factors that fluctuate temporarily and evaluate the underlying trend in inflation appropriately.
もっとも、その時々の物価情勢を評価するには、一時的に大きく変動する要因の影響を取り除いて、物価の基調的な動きを的確に見極めていく必要があります。

The Bank is of the view that the underlying trend in inflation has been improving steadily, and this is based on two factors.
わが国の物価の基調が着実に改善していると判断している根拠は2つあります。

In addition, although the effects of the decline in energy prices have made it hard to discern, the underlying trend in inflation has steadily improved.
また、エネルギー価格下落の影響により見えにくくなっていますが、この間も、物価の基調は着実に改善しています。

Moreover, I think that the underlying trend in inflation has also already regained stability that is consistent with the growth potential of Japan's economy.
また、基調的な物価についても、国内経済の実力と整合的な安定した状態を既に取り戻したとみています。

The improvement in the output gap and an increase in inflation expectations are likely to continue, and thus the underlying trend in inflation is expected to steadily rise.
先行きも、需給ギャップの改善と予想物価上昇率の上昇が続くと予想されますので、物価の基調は着実に高まっていくと考えています。

Specifically, the output gap, which determines the underlying trend in inflation, is likely to continue improving as Japan's economy continues to grow above potential as a trend..
すなわち、物価の基調を規定する需給ギャップは、わが国経済が基調として潜在成長率を上回る成長を続けるもとで、改善を続けていくとみています。

In this way, the mechanism of inflation accelerating moderately accompanied by wage increases has continued to operate, and the underlying trend in inflation has steadily improved.
このように、賃金の上昇を伴いながら緩やかにインフレ率が高まっていくというメカニズムは作用し続けており、物価の基調は着実に改善しています。

That said, the delay is mainly due to the effects of the decline in crude oil prices, and the underlying trend in inflation itself can be judged to be improving steadily as the transmission mechanism of policy effects has worked as expected.
従来の見通しからは後ずれしていますが、これは原油価格の下落の影響などによるものであり、物価の基調自体は、想定した政策効果の波及メカニズムが機能するかたちで着実に改善していると考えています。

Thus, somewhat stagnant developments have been noticeable since summer, but as I will explain, the fundamentals of Japan's economy are sound and the underlying trend in inflation has been improving steadily.
このように、夏場以降、やや冴えない動きが目立っていますが、これからご説明するように、日本経済のファンダメンタルズはしっかりしており、物価の基調も着実に改善しています。

However, the underlying trend in inflation itself has been rising steadily with the mechanism of QQE working as envisaged, and at this moment the Bank has no intention of changing its commitment to achieving the price stability target at the earliest possible time.
しかし、物価の基調自体は、想定した政策効果の波及メカニズムが機能する形で着実に高まっており、現時点において、物価安定目標の早期実現に向けたコミットメントを変更する考えは全くありません。

While inflation reflects temporary fluctuations such as those in commodity prices, the underlying trend in inflation is determined by the output gap and medium- to long-term inflation expectations.
現実の物価には商品市況など一時的な変動も反映されますが、物価の基調は需給ギャップと中長期的な予想物価上昇率によって規定されます。

As for prices, the year-on-year rate of change in the all-item CPI excluding fresh food is about 0 percent, reflecting the decline in energy prices, but the underlying trend in inflation has steadily improved.
物価については、生鮮食品を除く消費者物価は、エネルギー価格の下落を背景に、前年比0%程度で推移していますが、基調的な物価上昇率は着実に改善しています。

In Japan, as I have described, the underlying trend in inflation has improved steadily, and as the effects of the decline in crude oil prices dissipate, the year-on-year rate of increase in the CPI is projected to accelerate toward the price stability target of 2 percent.
本日ご説明したように、わが国の物価の基調は着実に改善しており、原油価格下落の影響が剥落するに伴って、消費者物価の前年比は2%の「物価安定の目標」に向けて上昇率を高めていくとみています。

However, this index includes energy prices and thus will temporarily decline when, as currently the case, crude oil prices have been declining substantially, so that it becomes difficult to assess the underlying trend in inflation using only this index.
ただ、この指数にはエネルギー価格が含まれており、現局面のように原油価格が大幅に下落している時には、一時的に押し下げられるため、これだけでは物価の基調を評価しづらくなります。

Looking Ahead to the Post-Deflation Era In sum, while Japan's economy has continued to recover moderately and the underlying trend in inflation has steadily improved, due attention should be paid to risk factors such as developments in emerging economies.
ポスト・デフレ時代を展望して以上をまとめますと、日本経済は緩やかな回復を続けており、物価の基調も着実に改善していますが、新興国経済の動向などのリスク要因には十分注意する必要があると考えています。

Therefore, the underlying trend in inflation has been improving steadily and the baseline scenario would be as follows: the year-on-year rate of change in the CPI is likely to accelerate toward the price stability target of 2 percent as the economy is likely to be on a moderate expanding trend..
このように物価の基調は着実に改善しており、先行きについても、メインシナリオとしては、わが国経済が基調として緩やかに拡大するもとで、消費者物価の前年比も「物価安定の目標」である2%に向けて上昇率を高めていくと考えています。

Reflecting such developments, there was an increasing risk that an improvement in the business confidence of Japanese firms and conversion of the deflationary mindset might be delayed, and that the underlying trend in inflation-- which had been rising steadily-- might be negatively affected.
こうした動きを背景として、企業コンフィデンスの改善や人々のデフレマインドの転換が遅延し、これまで着実に改善してきた物価の基調に悪影響が及ぶリスクが高まっていました。

However, the underlying trend in inflation is expected to continue to steadily increase in the future. Therefore, as the effects of falling crude oil prices on the year-on-year rate of change, that is, the base effect, dissipate, CPI inflation will accelerate and achieving 2 percent CPI inflation will come in sight.
しかし、基調的な物価上昇率は今後もしっかりと高まっていくと予想されますので、前年比でみた原油価格下落の影響(baseeffect)が剥落するにつれて、消費者物価上昇率は高まり、2%達成が見込めるようになります。

However, as a sharp fall in energy prices since the latter half of the previous year has amplified the volatility in the core CPI, it has become more important to assess the underlying trend in inflation in a comprehensive manner, not only with the core CPI but also with multiple indicators.
しかし、昨年半ば以降のエネルギー価格の大幅下落によって物価変動が大きくなっている局面では、このコアCPIのみならず、複数の指標を用いて総合的に物価の基調を判断することがより重要になっています。

To this end, the output gap, which is one of the factors that determine the underlying trend in inflation, is more or less unchanged, as the tightening of labor market conditions has continued while an improvement in manufacturers' capacity utilization rates has been delayed against the background of the sluggishness in exports and production.
この点、物価の基調を規定する要因のひとつである需給ギャップについてみると、これまでご説明したように、輸出・生産の鈍さを背景に製造業の設備稼働率の改善が遅れる一方、労働需給の引き締まりは続いており、全体として横ばい圏内の動きとなっています。

In fact, bank lending, which had been declining, has increased over the past three years at an annual rate of about 2 percent(Chart 5). Stock prices have risen as well, and the excessive appreciation of the yen has been corrected. Against the backdrop of such improvement in capital markets, economic growth and the underlying trend in inflation have increased.
実際、この3年、アップダウンはありましたが、通してみれば、貸出はそれ以前マイナスであったものが2%台の伸びになっていますし(図表5)、資産市場では株価の上昇と過度の円高の修正が起こり、成長率と物価の基調が高まりました。

In order to achieve the 2 percent price stability target, I think that it is vital to have a positive change in economic structure that would increase the underlying trend in inflation-- through, for example, efforts by the government and firms-- and that a considerable period of time will be required for this to take place.
また、私は、2%の「物価安定の目標」の実現には、政府や企業の取り組みなどを通じて、物価の基調を高めるような前向きな経済構造の変化が起こることが不可欠であり、そのためには相応の時間を要すると考えています。

Monetary Policy Management Rationale for a Negative Interest Rate Policy and its Effects Taking account of the environment surrounding Japan's economy, such as the decline in crude oil prices and the developments in emerging and commodity-exporting economies, as well as the volatility in global financial markets reflecting these developments, there is an increasing risk that an improvement in business sentiment and conversion of peoples' deflationary mindset might be delayed and that the underlying trend in inflation might be negatively affected.
金融政策の考え方マイナス金利政策の意義と効果このように原油価格の下落やそのもとでの新興国・資源国経済の動向、さらにはそれを受けた世界的な金融市場の不安定な動きなど、日本経済を取り巻く環境を踏まえると、企業のコンフィデンスの改善や人々のデフレマインドの転換が遅延し、物価の基調に悪影響が及ぶリスクは増大していると考えられます。