ひとりの委員は - 英語 への翻訳

• one member

日本語 での ひとりの委員は の使用例とその 英語 への翻訳

これに対して、ひとりの委員は、現在の日本経済は既にデフレ・スパイラルの初期の段階に入っており、今後、企業収益、雇用者所得の悪化が消費面に本格的に波及するため、2002年には物価の下落テンポは加速するとの見方を示した。
Against this view, one member said that Japan's economy was already in the early stages of a deflationary spiral, and that the pace of decline in prices would accelerate in 2002 because the deterioration in corporate profits and employees' income would start to have a substantial impact on consumption.

ひとりの委員は、各種販売統計について、夏場に下振れた際には消費の一層の悪化を懸念したが、9月以降横這い圏内で推移していることは、取り敢えずの安心材料であると述べた。
One member said that when various sales statistics showed a decline in the summer, it had been cause for concern that private consumption might deteriorate further, but it was encouraging that they had been leveling off since September.

ひとりの委員は、IT関連需要を中心とした世界経済の動きがアジアの景気回復に集約して表れている面があり、これが東アジア向け中心に輸出が増加している一つの背景ではないか、と述べた。
One member said that it seemed that the effects of developments in the world economy particularly those stemming from IT-related demand were concentrated in Asia, as seen in the economic recovery there, and this could be one of the factors behind the increase in exports to East Asian economies.

こうした議論を受け、ひとりの委員は、個人消費が所得の増加の裏付けを伴って改善していくのか、あるいは企業の新商品開発が家計支出を促す面があるのか、関連指標を今後しっかり検証していきたい、との意見を述べた。
Based on these discussions, one member expressed the view that it was necessary to examine indicators related to private consumption carefully to judge whether an improvement in private consumption would be supported by increases in household income and/or development of new products would stimulate household spending.

東アジア経済に関して、ひとりの委員は、高成長が続いている中国のプレゼンスが拡大しているのは好ましい材料であるが、同時に、中国における投資の過熱や資産価格上昇は、世界経済の不安定要因になる可能性がある、と発言した。
With regard to East Asian economies, one member said that overheating of investment and a rise in asset prices in China could destabilize the world economy, although it was an encouraging development that China, whose economic growth remained high, was becoming a more important presence in the world economy.

株価の動向に関して、ひとりの委員は、株価が将来の企業の収益力に対する市場の見方を示すものであることを踏まえれば、銀行株の低迷は、市場がわが国銀行の将来の収益性に対して依然厳しい見方を採っていることの表れであろう、と述べた。
Regarding developments in stock prices, one member said that stock prices reflected the views of market participants of firms' future profitability, and therefore, the weakness in prices of bank stocks suggested that their views on Japanese banks' future profitability remained severe.

ひとりの委員は、部品メーカーの海外移転の動きが加速しているほか、設備過剰感が依然として強く、赤字企業がなお多い中小企業の設備投資低迷が全体の足を引っ張っている、との見方を示した。
One member said that an increase in the number of parts makers moving their production base abroad and the sluggishness in capital spending by small firms, many of which still felt that they had excess equipment and were still posting losses, were undermining the overall trend of business fixed investment.

ひとりの委員は、海外経済の回復は、米国、東アジアだけでなく、新興国全般に広がっており、こうした動きが相乗効果をもってわが国の良好な輸出環境を維持することを可能にする、との見方を示した。
One member said that economic recovery was observable not only in the United States and East Asia but throughout newly industrializing countries, and such developments could work synergistically to maintain a favorable environment for Japan's exports.

これに関連して、ひとりの委員は、わが国経済にとって不良債権問題の解決は不可欠であるが、短期での解決が難しいとすれば、その間、量的緩和を通じて金融市場の安定を確保していくことは重要であるとの見解を示した。
In response to this, one member said that resolution of the NPL problem was essential for the Japanese economy, but if it took a long time, it was vital that the Bank continued quantitative easing measures to secure financial market stability.

ひとりの委員は、現時点では、設備投資の増加傾向は確認できたので、今後の注目点としては、(1)今年度の設備投資計画がどの程度上方修正されるのか、(2)個人消費が夏場にかけてどの程度改善していくか、といったことを挙げた。
One member remarked that, since an uptrend in business fixed investment had been confirmed, attention would be focused on the following in the future:(1) to what extent fixed investment plans for fiscal 2000 would be revised upward; and(2) to what extent private consumption would improve toward the summer.

ただし、ひとりの委員は、「物価水準ターゲット」を導入したうえで、日銀当座預金残高を10兆円程度とし、さらに、資金供給の円滑な実施のため、保有長期国債の残高を銀行券発行残高までとする現在の制限を外すべきであると主張した。
One member, however, contended that the Bank should introduce a price level target and raise the outstanding balance of current accounts to around 10 trillion yen, and that, in order to achieve the target for the outstanding balance smoothly, it should remove the restriction that the amount of the Bank's long-term JGB holdings should not exceed the amount of banknotes issued.

ひとりの委員は、現時点で入手できる国内経済指標は、なおテロ事件前のものが多いが、それでも、(1)企業部門の調整が、雇用・所得面を中心に、家計部門に徐々に及んでいる姿を示しており、(2)個人消費の面でも弱めの指標がみられる、と指摘した。
One member pointed out that although many of the domestic economic indicators available at the moment covered only the period before the terrorist attacks, they showed that already(1) adjustments in the corporate sector were gradually affecting the household sector, mainly in employment and income, and(2) private consumption was somewhat weak.

これに対して、ひとりの委員は、(1)現在、マネタリーベースの伸びと中長期的なインフレ率の関係は、非常に不安定な状況にあること、(2)ゼロ金利のもとでは、マネタリーベースの増加による緩和効果は非常に限定的であることを指摘した。
On this point, one member pointed out that(1) the relationship between the growth of the monetary base and the medium- to long-term inflation rate was extremely unstable, and(2) under the zero interest rate policy, the effects of monetary easing expected from increasing the monetary base were very limited.

この間、ひとりの委員は、現在、日本の家計支出が比較的堅調を維持している背景として、(1)97~98年当時の状況とは異なり、金融システム不安が後退していることに加え、(2)構造改革への期待感が家計のマインドを下支えしている可能性を指摘した。
One member explained the background of relatively firm household spending in Japan as follows:(1) anxiety about the financial system had subsided, unlike the situation in 1997-98; and(2) the expectation of progress in structural reforms might be underpinning the household sentiment.

ひとりの委員は、構造改革や不良債権処理の影響、国内民間需要の回復力、資産価格の動向、といった諸リスク要因はいずれも密接に関連したものであるとしたうえで、これらのリスクが顕現化する際には、同時に作用する可能性が高いことを指摘した。
One member commented that risk factors such as the effects of structural reforms and the disposal of NPLs, the strength of recovery in domestic private demand, and developments in asset prices were all closely related. The member pointed out that, therefore, if these risks were to materialize, it would be simultaneous.

この間、ひとりの委員は、今後の金融政策運営を考えるうえでの視点として、(1)日本銀行の外債購入について、法律上の可否を明確にすることに加え、(2)金融政策の裁量を狭めないため、財政規律に関し、政府が市場からの信認を得る必要がある、と主張した。
One member contended that in considering the conduct of monetary policy for the future,(1) it was necessary to clarify whether the Bank of Japan Law allowed purchases by the Bank of foreign bonds on its own decision, and(2) it was necessary for the Government to gain the market's confidence regarding fiscal discipline in order not to narrow the Bank's discretion in monetary policy.

ひとりの委員は、(1)設備投資の先行指標である機械受注が堅調であること、(2)雇用・所得環境が着実に改善し続けていること、(3)生産の増加傾向が続く可能性が強いことなどから、すでに「デフレ懸念の払拭が展望できるような情勢」に至っているとの判断を示した。
One member considered that it could be said that deflationary concern had been dispelled as(1) machinery orders, a leading indicator of business fixed investment, were firm,(2) the employment and income situation had been improving steadily, and(3) there was a strong possibility that production would continue to follow an upward trend.

ひとりの委員は、個人消費には昨年末から持ち直しの兆しが窺えると述べたうえで、雇用者数の増加など雇用情勢の改善に加え、株価上昇による資産効果もあって消費マインドが幾分改善していることが影響しているのではないか、との見解を示した。
One member expressed the view that private consumption had been showing signs of moderate recovery since the end of 2003, and this could be because consumer sentiment had been improving somewhat due to improvements in the employment situation, as evident in the increase in the number of employees, and also due to the wealth effect stemming from rising stock prices.

これに対して、ひとりの委員は、量的緩和政策には、長めの金利を含めた金利の低下、スプレッドの低下など金融市場の安定や、流動性懸念の払拭など金融システム面の安定に効果があったとしつつ、こうした効果は、当座預金の積み増しによってこれ以上強まるとは考えられないとの見解を示した。
In response to these views, one member said that the quantitative easing policy had been effective in ensuring financial market stability, and cited the decline in interest rates, including those on instruments with relatively long maturities, and the narrowing of credit spreads, and also in achieving financial system stability, for example by dispelling liquidity concerns.

企業金融面について、ひとりの委員は、年度末にかけて金融市場・金融システム面から企業金融を通じて実体経済面に下押し圧力が及ぶリスクは、このところやや薄らいでいる、との見方を示し、その背景として、金融機関の流動性ポジションの余裕を指摘した。
As for corporate finance, one member said that against the background of the improved liquidity position of banks, the risk that deterioration in corporate finance would exert downward pressure on the economy toward the end of fiscal 2002 due to developments in financial markets and in the financial system had been decreasing somewhat recently.