{"id":81222,"date":"2026-05-21T10:04:32","date_gmt":"2026-05-21T03:04:32","guid":{"rendered":"https:\/\/hbbgroup.net\/bojs-koeda-core-inflation-is-already-near-2\/"},"modified":"2026-05-21T10:47:02","modified_gmt":"2026-05-21T03:47:02","slug":"bojs-koeda-lam-phat-co-ban-cua-nhat-ban-hien-da-o-gan-muc-2","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/bojs-koeda-lam-phat-co-ban-cua-nhat-ban-hien-da-o-gan-muc-2\/","title":{"rendered":"BoJ’s Koeda: L\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n c\u1ee7a Nh\u1eadt B\u1ea3n hi\u1ec7n \u0111\u00e3 \u1edf g\u1ea7n m\u1ee9c 2%."},"content":{"rendered":"
\n

Th\u00e0nh vi\u00ean H\u1ed9i \u0111\u1ed3ng Ch\u00ednh s\u00e1ch c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng Nh\u1eadt B\u1ea3n (BoJ), Junko Koeda<\/strong>, cho bi\u1ebft h\u00f4m th\u1ee9 N\u0103m r\u1eb1ng t\u1ef7 l\u1ec7 l\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n c\u1ee7a Nh\u1eadt B\u1ea3n hi\u1ec7n \u0111\u00e3 ti\u1ebfn g\u1ea7n m\u1ee9c 2%<\/strong>. B\u00e0 c\u0169ng nh\u1ea5n m\u1ea1nh nh\u1eefng ti\u1ebfn tri\u1ec3n trong vi\u1ec7c \u0111\u1ea1t \u0111\u01b0\u1ee3c m\u1ee5c ti\u00eau l\u1ea1m ph\u00e1t c\u1ee7a BoJ \u2013 m\u1ed9t tr\u1ecdng t\u00e2m ch\u00ednh c\u1ee7a c\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch trong nh\u1eefng n\u0103m g\u1ea7n \u0111\u00e2y.<\/p>\n

Nh\u1eefng ph\u00e1t bi\u1ec3u \u0111\u00e1ng ch\u00fa \u00fd<\/h3>\n
    \n
  • L\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n hi\u1ec7n \u0111\u00e3 \u1edf quanh m\u1ee9c 2%<\/strong>.<\/li>\n
  • BoJ c\u1ea7n ti\u1ebfp t\u1ee5c n\u00e2ng l\u00e3i su\u1ea5t ch\u00ednh s\u00e1ch ph\u00f9 h\u1ee3p v\u1edbi di\u1ec5n bi\u1ebfn c\u1ee7a ho\u1ea1t \u0111\u1ed9ng kinh t\u1ebf, gi\u00e1 c\u1ea3 v\u00e0 \u0111i\u1ec1u ki\u1ec7n t\u00e0i ch\u00ednh.<\/li>\n
  • Nh\u1eefng di\u1ec5n bi\u1ebfn trong m\u1ed9t ho\u1eb7c hai th\u00e1ng g\u1ea7n \u0111\u00e2y c\u00f3 th\u1ec3 \u0111\u00e3 l\u00e0m t\u0103ng kh\u1ea3 n\u0103ng x\u1ea3y ra k\u1ecbch b\u1ea3n gi\u00e1 d\u1ea7u th\u00f4 duy tr\u00ec \u1edf m\u1ee9c cao.<\/li>\n
  • Trong b\u1ed1i c\u1ea3nh cung \u2013 c\u1ea7u hi\u1ec7n nay, gi\u00e1 c\u1ea3 c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c t\u0103ng tr\u00ean ph\u1ea1m vi r\u1ed9ng h\u01a1n trong th\u1eddi gian t\u1edbi.<\/li>\n
  • X\u00e9t \u0111\u1ebfn t\u00ecnh h\u00ecnh t\u1ea1i Trung \u0110\u00f4ng, c\u00f3 kh\u1ea3 n\u0103ng l\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n s\u1ebd v\u01b0\u1ee3t m\u1ee9c 2%<\/strong> trong t\u01b0\u01a1ng lai.<\/li>\n
  • C\u00e1c ch\u1ec9 b\u00e1o k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t d\u00e0i h\u1ea1n d\u1ef1a tr\u00ean kh\u1ea3o s\u00e1t v\u00e0 th\u1ecb tr\u01b0\u1eddng \u0111\u1ec1u \u0111\u00e3 t\u0103ng nh\u1eb9, \u0111i\u1ec1u n\u00e0y c\u1ea7n \u0111\u01b0\u1ee3c theo d\u00f5i ch\u1eb7t ch\u1ebd.<\/li>\n
  • Vi\u1ec7c BoJ n\u00e2ng l\u00e3i su\u1ea5t v\u1edbi t\u1ed1c \u0111\u1ed9 ph\u00f9 h\u1ee3p \u0111\u1ec3 \u1ee9ng ph\u00f3 v\u1edbi l\u1ea1m ph\u00e1t cao, \u0111\u1ed3ng th\u1eddi c\u00e2n nh\u1eafc c\u00e1c t\u00e1c \u0111\u1ed9ng \u0111\u1ed1i v\u1edbi n\u1ec1n kinh t\u1ebf, l\u00e0 \u0111i\u1ec1u h\u1ee3p l\u00fd.<\/li>\n
  • BoJ c\u1ea7n ti\u1ebfp t\u1ee5c \u0111\u00e1nh gi\u00e1 m\u1ee9c \u0111\u1ed9 neo gi\u1eef c\u1ee7a l\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n.<\/li>\n
  • N\u1ebfu l\u00e3i su\u1ea5t th\u1ef1c ti\u1ebfp t\u1ee5c th\u1ea5p h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi l\u00e3i su\u1ea5t t\u1ef1 nhi\u00ean, nh\u1eefng m\u00e9o m\u00f3 ngo\u00e0i \u00fd mu\u1ed1n trong ph\u00e2n b\u1ed5 ngu\u1ed3n l\u1ef1c c\u00f3 th\u1ec3 xu\u1ea5t hi\u1ec7n.<\/li>\n
  • L\u00e3i su\u1ea5t th\u1ef1c ng\u1eafn h\u1ea1n s\u1ebd ti\u1ebfp t\u1ee5c gi\u1ea3m n\u1ebfu BoJ kh\u00f4ng \u0111i\u1ec1u ch\u1ec9nh l\u00e3i su\u1ea5t ch\u00ednh s\u00e1ch khi l\u1ea1m ph\u00e1t ho\u1eb7c k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t gia t\u0103ng.<\/li>\n
  • Quy\u1ebft \u0111\u1ecbnh c\u1ee7a BoJ v\u1ec1 vi\u1ec7c b\u00ecnh th\u01b0\u1eddng h\u00f3a ch\u00ednh s\u00e1ch s\u1ebd ph\u1ee5 thu\u1ed9c v\u00e0o c\u00e1c y\u1ebfu t\u1ed1 nh\u01b0 kho\u1ea3ng c\u00e1ch s\u1ea3n l\u01b0\u1ee3ng v\u00e0 s\u1ef1 \u1ed5n \u0111\u1ecbnh c\u1ee7a l\u00e3i su\u1ea5t t\u1ef1 nhi\u00ean.<\/li>\n
  • N\u1ebfu n\u1ec1n kinh t\u1ebf kh\u00f4ng suy gi\u1ea3m m\u1ea1nh, c\u1ea7n ch\u00fa \u00fd nhi\u1ec1u h\u01a1n \u0111\u1ebfn c\u00e1c t\u00e1c d\u1ee5ng ph\u1ee5 c\u1ee7a vi\u1ec7c l\u00e3i su\u1ea5t th\u1ef1c ti\u1ebfp t\u1ee5c gi\u1ea3m.<\/li>\n
  • BoJ n\u00ean ti\u1ebfp t\u1ee5c b\u00ecnh th\u01b0\u1eddng h\u00f3a b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n m\u1ed9t c\u00e1ch \u1ed5n \u0111\u1ecbnh, c\u00f3 th\u1ec3 d\u1ef1 \u0111o\u00e1n \u0111\u01b0\u1ee3c nh\u01b0ng v\u1eabn linh ho\u1ea1t.<\/li>\n
  • L\u01b0\u1ee3ng tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 Nh\u1eadt B\u1ea3n (JGB) m\u00e0 BoJ n\u1eafm gi\u1eef \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o s\u1ebd gi\u1ea3m d\u1ea7n khi l\u01b0\u1ee3ng tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n v\u01b0\u1ee3t qu\u00e1 l\u01b0\u1ee3ng mua m\u1edbi.<\/li>\n
  • Khi xem x\u00e9t c\u00e2n b\u1eb1ng d\u00e0i h\u1ea1n gi\u1eefa l\u01b0\u1ee3ng tr\u00e1i phi\u1ebfu mua v\u00e0o v\u00e0 \u0111\u00e1o h\u1ea1n, c\u1ea7n \u0111\u00e1nh gi\u00e1 to\u00e0n di\u1ec7n t\u00ecnh h\u00ecnh th\u1ecb tr\u01b0\u1eddng JGB, thanh kho\u1ea3n v\u00e0 s\u1ed1 d\u01b0 d\u1ef1 tr\u1eef.<\/li>\n
  • BoJ c\u1ea7n \u0111\u00e1nh gi\u00e1 th\u1eddi gian k\u00e9o d\u00e0i c\u1ee7a t\u00ecnh h\u00ecnh hi\u1ec7n t\u1ea1i \u1edf Trung \u0110\u00f4ng, t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn kinh t\u1ebf to\u00e0n c\u1ea7u, nhu c\u1ea7u b\u00ean ngo\u00e0i v\u00e0 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn xu\u1ea5t kh\u1ea9u r\u00f2ng c\u1ee7a Nh\u1eadt B\u1ea3n trong b\u1ed1i c\u1ea3nh t\u1ef7 gi\u00e1 hi\u1ec7n nay.<\/li>\n
  • T\u1ed1c \u0111\u1ed9 chuy\u1ec3n chi ph\u00ed v\u00e0o gi\u00e1 b\u00e1n c\u1ee7a doanh nghi\u1ec7p d\u01b0\u1eddng nh\u01b0 \u0111\u00e3 nhanh h\u01a1n so v\u1edbi v\u00e0i n\u0103m tr\u01b0\u1edbc.<\/li>\n
  • Gi\u00e1 d\u1ecbch v\u1ee5, v\u1ed1n t\u1eebng gi\u1ea3m trong nh\u1eefng n\u0103m tr\u01b0\u1edbc, g\u1ea7n \u0111\u00e2y \u0111\u00e3 \u0111\u00f3ng g\u00f3p \u1ed5n \u0111\u1ecbnh v\u00e0o vi\u1ec7c \u0111\u1ea9y CPI t\u0103ng nh\u1edd t\u0103ng tr\u01b0\u1edfng ti\u1ec1n l\u01b0\u01a1ng v\u1eefng ch\u1eafc.<\/li>\n
  • L\u00e3i su\u1ea5t th\u1ef1c ng\u1eafn h\u1ea1n c\u1ee7a Nh\u1eadt B\u1ea3n v\u1eabn \u0111ang \u1edf m\u1ee9c \u00e2m v\u00e0 th\u1ea5p h\u01a1n nhi\u1ec1u so v\u1edbi c\u00e1c n\u1ec1n kinh t\u1ebf kh\u00e1c.<\/li>\n
  • Vi\u1ec7c duy tr\u00ec l\u00e3i su\u1ea5t th\u1ef1c d\u00e0i h\u1ea1n \u00e2m trong th\u1eddi gian d\u00e0i c\u00f3 th\u1ec3 khi\u1ebfn nh\u00e0 \u0111\u1ea7u t\u01b0 xem n\u1ec1n kinh t\u1ebf Nh\u1eadt B\u1ea3n l\u00e0 \u0111i\u1ec3m \u0111\u1ebfn k\u00e9m h\u1ea5p d\u1eabn.<\/li>\n
  • V\u00ec v\u1eady, vi\u1ec7c duy tr\u00ec l\u00e3i su\u1ea5t th\u1ef1c d\u00e0i h\u1ea1n \u1edf m\u1ee9c d\u01b0\u01a1ng trong d\u00e0i h\u1ea1n l\u00e0 \u0111i\u1ec1u mong mu\u1ed1n \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o s\u1ef1 l\u00e0nh m\u1ea1nh c\u1ee7a th\u1ecb tr\u01b0\u1eddng.<\/li>\n
  • M\u1ed9t s\u1ed1 th\u00e0nh vi\u00ean th\u1ecb tr\u01b0\u1eddng cho r\u1eb1ng nh\u1eadn th\u1ee9c v\u1ec1 ch\u00ednh s\u00e1ch t\u00e0i kh\u00f3a \u0111\u00e3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn qu\u00e1 tr\u00ecnh h\u00ecnh th\u00e0nh l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 Nh\u1eadt B\u1ea3n (JGB).<\/li>\n<\/ul>\n

    Ph\u1ea3n \u1ee9ng th\u1ecb tr\u01b0\u1eddng<\/h3>\n

    T\u1ea1i th\u1eddi \u0111i\u1ec3m vi\u1ebft b\u00e0i, c\u1eb7p USD\/JPY<\/strong> gi\u1ea3m 0,03%<\/strong> trong ng\u00e0y, giao d\u1ecbch \u1edf m\u1ee9c 158,88<\/strong>.<\/p>\n

    C\u00e2u h\u1ecfi th\u01b0\u1eddng g\u1eb7p v\u1ec1 Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng Nh\u1eadt B\u1ea3n (BoJ)<\/h3>\n

    Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng Nh\u1eadt B\u1ea3n (BoJ)<\/strong> l\u00e0 ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng c\u1ee7a Nh\u1eadt B\u1ea3n, ch\u1ecbu tr\u00e1ch nhi\u1ec7m x\u00e2y d\u1ef1ng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 trong n\u01b0\u1edbc. Nhi\u1ec7m v\u1ee5 c\u1ee7a BoJ l\u00e0 ph\u00e1t h\u00e0nh ti\u1ec1n gi\u1ea5y v\u00e0 th\u1ef1c hi\u1ec7n ki\u1ec3m so\u00e1t ti\u1ec1n t\u1ec7 nh\u1eb1m \u0111\u1ea3m b\u1ea3o \u1ed5n \u0111\u1ecbnh gi\u00e1 c\u1ea3, v\u1edbi m\u1ee5c ti\u00eau l\u1ea1m ph\u00e1t kho\u1ea3ng 2%<\/strong>.<\/p>\n

    BoJ b\u1eaft \u0111\u1ea7u tri\u1ec3n khai ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 si\u00eau n\u1edbi l\u1ecfng t\u1eeb n\u0103m 2013 nh\u1eb1m k\u00edch th\u00edch n\u1ec1n kinh t\u1ebf v\u00e0 th\u00fac \u0111\u1ea9y l\u1ea1m ph\u00e1t trong m\u00f4i tr\u01b0\u1eddng l\u1ea1m ph\u00e1t th\u1ea5p. Ch\u00ednh s\u00e1ch n\u00e0y d\u1ef1a tr\u00ean ch\u01b0\u01a1ng tr\u00ecnh N\u1edbi l\u1ecfng \u0110\u1ecbnh l\u01b0\u1ee3ng v\u00e0 \u0110\u1ecbnh t\u00ednh (QQE)<\/strong>, t\u1ee9c l\u00e0 in ti\u1ec1n \u0111\u1ec3 mua c\u00e1c t\u00e0i s\u1ea3n nh\u01b0 tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 v\u00e0 tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p nh\u1eb1m cung c\u1ea5p thanh kho\u1ea3n cho n\u1ec1n kinh t\u1ebf.<\/p>\n

    N\u0103m 2016, BoJ ti\u1ebfp t\u1ee5c n\u1edbi l\u1ecfng ch\u00ednh s\u00e1ch b\u1eb1ng c\u00e1ch \u00e1p d\u1ee5ng l\u00e3i su\u1ea5t \u00e2m v\u00e0 sau \u0111\u00f3 tr\u1ef1c ti\u1ebfp ki\u1ec3m so\u00e1t l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 k\u1ef3 h\u1ea1n 10 n\u0103m. \u0110\u1ebfn th\u00e1ng 3\/2024, BoJ \u0111\u00e3 n\u00e2ng l\u00e3i su\u1ea5t, \u0111\u00e1nh d\u1ea5u s\u1ef1 r\u00fat lui kh\u1ecfi l\u1eadp tr\u01b0\u1eddng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 si\u00eau n\u1edbi l\u1ecfng.<\/p>\n

    C\u00e1c bi\u1ec7n ph\u00e1p k\u00edch th\u00edch quy m\u00f4 l\u1edbn c\u1ee7a BoJ \u0111\u00e3 khi\u1ebfn \u0111\u1ed3ng Y\u00ean suy y\u1ebfu so v\u1edbi c\u00e1c \u0111\u1ed3ng ti\u1ec1n ch\u1ee7 ch\u1ed1t kh\u00e1c. Xu h\u01b0\u1edbng n\u00e0y tr\u1edf n\u00ean r\u00f5 r\u1ec7t h\u01a1n trong giai \u0111o\u1ea1n 2022\u20132023 khi s\u1ef1 kh\u00e1c bi\u1ec7t ch\u00ednh s\u00e1ch gi\u1eefa BoJ v\u00e0 c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng l\u1edbn kh\u00e1c ng\u00e0y c\u00e0ng m\u1edf r\u1ed9ng. Trong khi nhi\u1ec1u ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng t\u0103ng m\u1ea1nh l\u00e3i su\u1ea5t \u0111\u1ec3 ch\u1ed1ng l\u1ea1m ph\u00e1t cao, BoJ v\u1eabn duy tr\u00ec ch\u00ednh s\u00e1ch n\u1edbi l\u1ecfng, l\u00e0m gia t\u0103ng ch\u00eanh l\u1ec7ch l\u00e3i su\u1ea5t v\u00e0 g\u00e2y \u00e1p l\u1ef1c gi\u1ea3m gi\u00e1 l\u00ean \u0111\u1ed3ng Y\u00ean.<\/p>\n

    Xu h\u01b0\u1edbng n\u00e0y \u0111\u00e3 ph\u1ea7n n\u00e0o \u0111\u1ea3o chi\u1ec1u trong n\u0103m 2024 khi BoJ quy\u1ebft \u0111\u1ecbnh t\u1eeb b\u1ecf ch\u00ednh s\u00e1ch si\u00eau n\u1edbi l\u1ecfng.<\/p>\n

    \u0110\u1ed3ng Y\u00ean suy y\u1ebfu c\u00f9ng v\u1edbi vi\u1ec7c gi\u00e1 n\u0103ng l\u01b0\u1ee3ng to\u00e0n c\u1ea7u t\u0103ng m\u1ea1nh \u0111\u00e3 g\u00f3p ph\u1ea7n \u0111\u1ea9y l\u1ea1m ph\u00e1t t\u1ea1i Nh\u1eadt B\u1ea3n v\u01b0\u1ee3t m\u1ee5c ti\u00eau 2%<\/strong> c\u1ee7a BoJ. B\u00ean c\u1ea1nh \u0111\u00f3, tri\u1ec3n v\u1ecdng ti\u1ec1n l\u01b0\u01a1ng t\u0103ng cao t\u1ea1i Nh\u1eadt B\u1ea3n \u2013 m\u1ed9t y\u1ebfu t\u1ed1 quan tr\u1ecdng th\u00fac \u0111\u1ea9y l\u1ea1m ph\u00e1t \u2013 c\u0169ng g\u00f3p ph\u1ea7n v\u00e0o di\u1ec5n bi\u1ebfn n\u00e0y.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

    Th\u00e0nh vi\u00ean H\u1ed9i \u0111\u1ed3ng Ch\u00ednh s\u00e1ch c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng Nh\u1eadt B\u1ea3n (BoJ), Junko Koeda, cho bi\u1ebft h\u00f4m th\u1ee9 […]<\/p>","protected":false},"author":5,"featured_media":81223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[222],"tags":[],"class_list":["post-81222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ngoai-hoi"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/81222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/comments?post=81222"}],"version-history":[{"count":1,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/81222\/revisions"}],"predecessor-version":[{"id":81446,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/81222\/revisions\/81446"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media\/81223"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media?parent=81222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/categories?post=81222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/tags?post=81222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}