Page 14 - NO.161銀行家雜誌

觀天下
Global View

地區性銀行的命運，是一個國家整體經
濟、人口結構、既有銀行轉型狀況的縮影。
對台灣、南韓、中國這些高齡化國家來說，
最重要的長期重點，是如何在社會高齡化的
過程中確保能源自給。能源價格上漲會對所

有退休人士帶來衝擊，自給自足才能防止全
球能源市場影響該國貨幣估值。而且超高齡
化的經濟體在面對外部動盪時，很可能無法
及時反應。
目前的再生能源基礎建設，通常都離大
日本政府已經被迫要求家庭與企業在冬季節約能源，但汽油與取暖油料 城市很遠，而且可以自己運作。日本的地區
補貼也即將在 5 月結束。（圖／達志影像）
性銀行如果開始進行綠色金融，就能同時解
通膨會長期維持下去。他在就職記者會上指 決能源轉型、地方創生、數位轉型的問題。
出，貨幣政策常態化之所以步步為營，是因 當然在那之前，這些銀行得先撐過當下的巨

為零利率政策維持了數十年，改變時必須維 變。（本文作者為台灣金融研訓院特聘外籍研 AD
持銀行的穩定。 究員；譯者為廖珮杏）

position last year. Both the investment and trade most important longer-term lesson for other countries
trends appear likely to persist through 2023, creating with aging populations, including Taiwan, Korea, and

a difficult balancing act for the central bank. It must even China, is that energy independence is essential
mop up the excess liquidity that has now returned for an aging economy. Higher prices hurt retirees in
home due to this technical reason, or else risk further any economy, but local production helps ensure that
devaluation of the yen as that money once again finds global energy markets do not impact overall currency

overseas investment targets. valuation. Moreover, super-aged economies might
Incoming Governor Kazuo Ueda is however still have less ability to respond with agility to external
not convinced that the longer-term trend is inflationary. shocks.
In his inaugural news conference, he also made note Renewable energy infrastructure will often be
of bank stability concerns following decades of zero located outside of major cities, and will be operated

rates as one reason for caution when normalizing remotely. Thus, green financing will allow regional
monetary policy. banks to play a role in Japan’s energy transition, rural
The fate of the regional banks is a microcosm revitalization, and digital transformation at the same
of concerns about macroeconomics, demographics, time. First, however, these banks will likely need to
and internal transformation by mature banks. The survive an industry shake-up.

14 台灣銀行家2023.5月號

1 5% JOEE