{"status":true,"post":{"id":15822,"user_id":10,"status":1,"type":1,"orde":null,"notification_type":3,"static_post":0,"published_at":"2022-10-21 10:01:30","created_at":"2017-01-29T21:00:00.000000Z","updated_at":"2022-10-21T07:01:30.000000Z","edited_at":"2024-12-17 22:35:21","source_id":null,"post_id":15822,"is_featured":0,"title":"D\u00f6viz kurlar\u0131 ve faizlerde denge aray\u0131\u015f\u0131 s\u00fcrecek","slider_title":null,"slider_title_2":null,"slider_spot_title":null,"slider_spot_title_2":null,"home_title":null,"sub_title":null,"category_id":73,"description":null,"content":"  \t\t\t\t\t  \t\t\t\t\t<p><span class=\"large\">Merkez Bankas\u0131, T\u00fcrkiye ekonomisindeki birden fazla dengeyi g\u00f6zetmeye \u00e7al\u0131\u015f\u0131yor. Yak\u0131n d\u00f6nemde en \u00e7ok a\u011f\u0131rl\u0131k verdi\u011fi ise finansal istikrar\u0131 sa\u011flamak i\u00e7in d\u00f6viz kurlar\u0131ndaki art\u0131\u015f\u0131 s\u0131n\u0131rlamak olu\u015fturuyor. Bu \u00e7er\u00e7evede Merkez Bankas\u0131\u2019n\u0131n ald\u0131\u011f\u0131 son kararlar\u0131 ve bunlar\u0131n d\u00f6viz kurlar\u0131 ile faiz oranlar\u0131ndaki denge aray\u0131\u015f\u0131 \u00fczerine etkilerini de\u011ferlendirelim.<\/span><\/p>  <p><span class=\"large\"><strong>1. MERKEZ BANKASI B\u0130RDEN \u00c7OK HEDEFE Y\u00d6NELM\u0130\u015e DURUMDA<\/strong><\/span><\/p>  <p><span class=\"large\">T\u00fcrkiye 15 Temmuz ba\u015far\u0131s\u0131z darbe giri\u015fimi sonras\u0131 ola\u011fan\u00fcst\u00fc ko\u015fullardan ge\u00e7iyor. \u00d6ncelikle ekonomik b\u00fcy\u00fcme \u00f6nemli \u00f6l\u00e7\u00fcde yava\u015flad\u0131. \u0130kinci olarak T\u00fcrkiye\u2019nin riskleri y\u00fckseldi ve buna ba\u011fl\u0131 olarak T\u00fcrk Liras\u0131 de\u011fer kaybediyor. T\u00fcrk Liras\u0131\u2019n\u0131n de\u011fer kayb\u0131 ile birlikte enflasyon ve enflasyon beklentileri de y\u00fckseliyor. Piyasalar risklerin y\u00f6netilmesi i\u00e7in daha y\u00fcksek faizler talep ediyor. K\u00fcresel mali ko\u015fullar i\u00e7inde g\u00fc\u00e7lenen dolar da T\u00fcrkiye\u2019ye \u00e7ok yard\u0131mc\u0131 olam\u0131yor. Bu \u00e7er\u00e7evede Merkez Bankas\u0131 temel hedefi enflasyon olmakla birlikte hem b\u00fcy\u00fcmeyi g\u00f6zetiyor hem de finansal istikrar\u0131 korumak i\u00e7in T\u00fcrk Liras\u0131\u2019ndaki de\u011fer kayb\u0131n\u0131 \u00f6nlemeye \u00e7al\u0131\u015f\u0131yor.<\/span><\/p>  <p><span class=\"large\"><strong>2. MERKEZ BANKASI T\u00dcRK L\u0130RASI L\u0130K\u0130D\u0130TEY\u0130 AZALTIYOR VE PAHALI HALE GET\u0130R\u0130YOR<\/strong><\/span><\/p>  <p><span class=\"large\">Merkez Bankas\u0131 \u00f6nceli\u011fini, T\u00fcrk Liras\u0131\u2019n\u0131n de\u011fer kayb\u0131n\u0131 durdurmaya vermi\u015f durumda. Bu ama\u00e7la al\u0131nan \u00f6nlemlerin en \u00f6nemlisi, T\u00fcrk Liras\u0131 likiditenin azalt\u0131lmas\u0131 ve daha pahal\u0131 hale getirilmesi. Merkez Bankas\u0131, TL likiditesini azaltarak elinde d\u00f6viz tutanlar\u0131n, d\u00f6vizlerini satmaya zorluyor. Ancak d\u00f6vizi olanlar d\u00f6vizin artaca\u011f\u0131 beklentisi ile d\u00f6viz satm\u0131yor. Di\u011fer yandan \u00f6zellikle reel kesimin artan d\u00f6viz talebi devam ediyor. Reel kesim, d\u00f6viz kurlar\u0131 geriledi\u011fi anda d\u00f6viz sat\u0131n alm\u0131yor. Bu \u00e7er\u00e7evede TL likiditesi azalt\u0131larak d\u00f6viz kurlar\u0131n\u0131 tutmay\u0131 s\u00fcrd\u00fcrmek \u00e7ok uzun soluklu olamayacak. Buna ilave olarak TL\u2019nin daha pahal\u0131 hale getirilmesi ile piyasada TL faizleri y\u00fckselmeye devam ediyor. Bu nedenle likiditeyi bo\u011fmak yerine faizleri makul dengelere \u00e7\u0131karmak daha yararl\u0131 olacak gibi g\u00f6r\u00fcn\u00fcyor.<\/span><\/p>  <p><span class=\"large\"><strong>3. MERKEZ BANKASI KADEMEL\u0130 FA\u0130Z ARTI\u015eINI S\u00dcRD\u00dcR\u00dcYOR <\/strong><\/span><\/p>  <p><span class=\"large\">Bu ko\u015fullar i\u00e7inde Merkez Bankas\u0131 \u00f6zellikle T\u00fcrk Liras\u0131\u2019n\u0131n de\u011fer kayb\u0131n\u0131 \u00f6nlemek i\u00e7in kademeli faiz art\u0131\u015f\u0131n\u0131 da s\u00fcrd\u00fcr\u00fcyor. Para Politikas\u0131 Kurulu en son toplant\u0131s\u0131nda gecelik faiz oranlar\u0131n\u0131 y\u00fczde 8.5\u2019ten y\u00fczde 9.25\u2019e y\u00fckseltmi\u015f, Merkez Bankas\u0131 bor\u00e7lanma faiz oran\u0131n\u0131 ise y\u00fczde 7.25 d\u00fczeyinde sabit tuttu. Bir hafta vadeli repo ihale faiz oran\u0131 y\u00fczde 8\u2019de sabit tuttu. Son d\u00f6nemde en \u00e7ok kullan\u0131lan ge\u00e7 likidite penceresi uygulamas\u0131 \u00e7er\u00e7evesinde ise gecelik vadede uygulanan Merkez Bankas\u0131 bor\u00e7 verme faiz oran\u0131 y\u00fczde 10\u2019dan y\u00fczde 11\u2019e y\u00fckseltildi. Merkez Bankas\u0131 piyasa beklentilerinin alt\u0131nda faiz art\u0131\u015flar\u0131 yapt\u0131. <\/span><br><span class=\"large\"> Buna ba\u011fl\u0131 olarak faiz oran\u0131 art\u0131\u015f beklentisi devam edecek.<\/span><\/p>  <p><span class=\"large\"><strong>4. MERKEZ BANKASI TL L\u0130K\u0130D\u0130TES\u0130N\u0130 SIKI TUTACAK, \u0130\u015eLETMELER D\u0130KKAT ETMEL\u0130<\/strong><\/span><\/p>  <p><span class=\"large\">En son karar\u0131n\u0131n ard\u0131ndan Merkez Bankas\u0131\u2019n\u0131n kuvvetli faiz art\u0131\u015flar\u0131 yerine TL likiditesini s\u0131k\u0131la\u015ft\u0131rmay\u0131 tercih etti\u011fi anla\u015f\u0131l\u0131yor. Piyasalarda bir s\u00fcre daha TL likiditesi s\u0131n\u0131rlanaca\u011f\u0131ndan, i\u015fletmeler nakit y\u00f6netimine dikkat etmeli. Ayr\u0131ca Merkez Bankas\u0131, e\u011fer son faiz art\u0131\u015flar\u0131na ra\u011fmen T\u00fcrk Liras\u0131\u2019nda de\u011fer kayb\u0131 s\u00fcrerse ilave likidite \u00f6nlemleri al\u0131nabilece\u011fini a\u00e7\u0131klad\u0131. Bir ba\u015fka deyi\u015fle kurlar artmaya devam ederse faiz art\u0131\u015f\u0131 de\u011fil, TL likidite s\u0131k\u0131la\u015ft\u0131rmas\u0131 ilk ba\u015fvurulacak ara\u00e7 olacak. <\/span><\/p>  <p><span class=\"large\"><strong>5. T\u00dcRK L\u0130RASI <\/strong><\/span><\/p>  <p><span class=\"large\">D\u00f6viz kurlar\u0131 taraf\u0131nda ise yeni faiz oranlar\u0131na ra\u011fmen T\u00fcrk Liras\u0131\u2019nda de\u011fer kayb\u0131 bask\u0131s\u0131 s\u00fcrecek. Faiz oranlar\u0131ndan ve T\u00fcrkiye\u2019den ba\u011f\u0131ms\u0131z olarak k\u00fcresel mali ko\u015fullar TL \u00fczerinde bask\u0131 yap\u0131yor. Bankalar\u0131n ve reel kesimin d\u00f6viz talebi de devam ediyor. <\/span><\/p>  <p><span class=\"large\"><strong>Son S\u00f6z:<\/strong> D\u00f6viz kurlar\u0131nda ve faiz oranlar\u0131nda yeni denge ve seviye aray\u0131\u015flar\u0131 s\u00fcrecek.<\/span><\/p>  \t\t\t\t","slug":"doviz-kurlari-ve-faizlerde-denge-arayisi-surecek","tags":"K\u00f6\u015fe Yaz\u0131s\u0131","meta_title":"D\u00f6viz kurlar\u0131 ve faizlerde denge aray\u0131\u015f\u0131 s\u00fcrecek","meta_description":"Dr. Can G\u00fcrlesel","meta_keywords":"K\u00f6\u015fe Yaz\u0131s\u0131","news_cover_min":null,"news_cover":null,"news_video_min":null,"news_video":null,"view_count":150,"cropped_1200x675":null,"user":{"id":10,"name":"CAN","surname":"G\u00dcRLESEL","email":"durmaz.umran@superposta.com","slug":"dr-can-gurlesel","avatar":"\/front\/uploads\/avatar\/17336916008P5QTYWdQ2pLpLn.webp","status":1,"role":1,"email_verified_at":null,"orde":null,"created_at":"2022-09-15T09:39:41.000000Z","updated_at":"2024-12-18T09:51:00.000000Z","seo_title":null,"seo_description":null},"translations":[{"id":15921,"is_featured":0,"is_amp":0,"is_ads":0,"ads_link":null,"post_id":15822,"locale":"tr","category_id":73,"title":"D\u00f6viz kurlar\u0131 ve faizlerde denge aray\u0131\u015f\u0131 s\u00fcrecek","home_title":null,"sub_title":null,"slider_title":null,"slider_title_2":null,"slider_spot_title":null,"slider_spot_title_2":null,"subtitleuse":0,"description":null,"content":"  \t\t\t\t\t  \t\t\t\t\t<p><span class=\"large\">Merkez Bankas\u0131, T\u00fcrkiye ekonomisindeki birden fazla dengeyi g\u00f6zetmeye \u00e7al\u0131\u015f\u0131yor. Yak\u0131n d\u00f6nemde en \u00e7ok a\u011f\u0131rl\u0131k verdi\u011fi ise finansal istikrar\u0131 sa\u011flamak i\u00e7in d\u00f6viz kurlar\u0131ndaki art\u0131\u015f\u0131 s\u0131n\u0131rlamak olu\u015fturuyor. Bu \u00e7er\u00e7evede Merkez Bankas\u0131\u2019n\u0131n ald\u0131\u011f\u0131 son kararlar\u0131 ve bunlar\u0131n d\u00f6viz kurlar\u0131 ile faiz oranlar\u0131ndaki denge aray\u0131\u015f\u0131 \u00fczerine etkilerini de\u011ferlendirelim.<\/span><\/p>  <p><span class=\"large\"><strong>1. MERKEZ BANKASI B\u0130RDEN \u00c7OK HEDEFE Y\u00d6NELM\u0130\u015e DURUMDA<\/strong><\/span><\/p>  <p><span class=\"large\">T\u00fcrkiye 15 Temmuz ba\u015far\u0131s\u0131z darbe giri\u015fimi sonras\u0131 ola\u011fan\u00fcst\u00fc ko\u015fullardan ge\u00e7iyor. \u00d6ncelikle ekonomik b\u00fcy\u00fcme \u00f6nemli \u00f6l\u00e7\u00fcde yava\u015flad\u0131. \u0130kinci olarak T\u00fcrkiye\u2019nin riskleri y\u00fckseldi ve buna ba\u011fl\u0131 olarak T\u00fcrk Liras\u0131 de\u011fer kaybediyor. T\u00fcrk Liras\u0131\u2019n\u0131n de\u011fer kayb\u0131 ile birlikte enflasyon ve enflasyon beklentileri de y\u00fckseliyor. Piyasalar risklerin y\u00f6netilmesi i\u00e7in daha y\u00fcksek faizler talep ediyor. K\u00fcresel mali ko\u015fullar i\u00e7inde g\u00fc\u00e7lenen dolar da T\u00fcrkiye\u2019ye \u00e7ok yard\u0131mc\u0131 olam\u0131yor. Bu \u00e7er\u00e7evede Merkez Bankas\u0131 temel hedefi enflasyon olmakla birlikte hem b\u00fcy\u00fcmeyi g\u00f6zetiyor hem de finansal istikrar\u0131 korumak i\u00e7in T\u00fcrk Liras\u0131\u2019ndaki de\u011fer kayb\u0131n\u0131 \u00f6nlemeye \u00e7al\u0131\u015f\u0131yor.<\/span><\/p>  <p><span class=\"large\"><strong>2. MERKEZ BANKASI T\u00dcRK L\u0130RASI L\u0130K\u0130D\u0130TEY\u0130 AZALTIYOR VE PAHALI HALE GET\u0130R\u0130YOR<\/strong><\/span><\/p>  <p><span class=\"large\">Merkez Bankas\u0131 \u00f6nceli\u011fini, T\u00fcrk Liras\u0131\u2019n\u0131n de\u011fer kayb\u0131n\u0131 durdurmaya vermi\u015f durumda. Bu ama\u00e7la al\u0131nan \u00f6nlemlerin en \u00f6nemlisi, T\u00fcrk Liras\u0131 likiditenin azalt\u0131lmas\u0131 ve daha pahal\u0131 hale getirilmesi. Merkez Bankas\u0131, TL likiditesini azaltarak elinde d\u00f6viz tutanlar\u0131n, d\u00f6vizlerini satmaya zorluyor. Ancak d\u00f6vizi olanlar d\u00f6vizin artaca\u011f\u0131 beklentisi ile d\u00f6viz satm\u0131yor. Di\u011fer yandan \u00f6zellikle reel kesimin artan d\u00f6viz talebi devam ediyor. Reel kesim, d\u00f6viz kurlar\u0131 geriledi\u011fi anda d\u00f6viz sat\u0131n alm\u0131yor. Bu \u00e7er\u00e7evede TL likiditesi azalt\u0131larak d\u00f6viz kurlar\u0131n\u0131 tutmay\u0131 s\u00fcrd\u00fcrmek \u00e7ok uzun soluklu olamayacak. Buna ilave olarak TL\u2019nin daha pahal\u0131 hale getirilmesi ile piyasada TL faizleri y\u00fckselmeye devam ediyor. Bu nedenle likiditeyi bo\u011fmak yerine faizleri makul dengelere \u00e7\u0131karmak daha yararl\u0131 olacak gibi g\u00f6r\u00fcn\u00fcyor.<\/span><\/p>  <p><span class=\"large\"><strong>3. MERKEZ BANKASI KADEMEL\u0130 FA\u0130Z ARTI\u015eINI S\u00dcRD\u00dcR\u00dcYOR <\/strong><\/span><\/p>  <p><span class=\"large\">Bu ko\u015fullar i\u00e7inde Merkez Bankas\u0131 \u00f6zellikle T\u00fcrk Liras\u0131\u2019n\u0131n de\u011fer kayb\u0131n\u0131 \u00f6nlemek i\u00e7in kademeli faiz art\u0131\u015f\u0131n\u0131 da s\u00fcrd\u00fcr\u00fcyor. Para Politikas\u0131 Kurulu en son toplant\u0131s\u0131nda gecelik faiz oranlar\u0131n\u0131 y\u00fczde 8.5\u2019ten y\u00fczde 9.25\u2019e y\u00fckseltmi\u015f, Merkez Bankas\u0131 bor\u00e7lanma faiz oran\u0131n\u0131 ise y\u00fczde 7.25 d\u00fczeyinde sabit tuttu. Bir hafta vadeli repo ihale faiz oran\u0131 y\u00fczde 8\u2019de sabit tuttu. Son d\u00f6nemde en \u00e7ok kullan\u0131lan ge\u00e7 likidite penceresi uygulamas\u0131 \u00e7er\u00e7evesinde ise gecelik vadede uygulanan Merkez Bankas\u0131 bor\u00e7 verme faiz oran\u0131 y\u00fczde 10\u2019dan y\u00fczde 11\u2019e y\u00fckseltildi. Merkez Bankas\u0131 piyasa beklentilerinin alt\u0131nda faiz art\u0131\u015flar\u0131 yapt\u0131. <\/span><br><span class=\"large\"> Buna ba\u011fl\u0131 olarak faiz oran\u0131 art\u0131\u015f beklentisi devam edecek.<\/span><\/p>  <p><span class=\"large\"><strong>4. MERKEZ BANKASI TL L\u0130K\u0130D\u0130TES\u0130N\u0130 SIKI TUTACAK, \u0130\u015eLETMELER D\u0130KKAT ETMEL\u0130<\/strong><\/span><\/p>  <p><span class=\"large\">En son karar\u0131n\u0131n ard\u0131ndan Merkez Bankas\u0131\u2019n\u0131n kuvvetli faiz art\u0131\u015flar\u0131 yerine TL likiditesini s\u0131k\u0131la\u015ft\u0131rmay\u0131 tercih etti\u011fi anla\u015f\u0131l\u0131yor. Piyasalarda bir s\u00fcre daha TL likiditesi s\u0131n\u0131rlanaca\u011f\u0131ndan, i\u015fletmeler nakit y\u00f6netimine dikkat etmeli. Ayr\u0131ca Merkez Bankas\u0131, e\u011fer son faiz art\u0131\u015flar\u0131na ra\u011fmen T\u00fcrk Liras\u0131\u2019nda de\u011fer kayb\u0131 s\u00fcrerse ilave likidite \u00f6nlemleri al\u0131nabilece\u011fini a\u00e7\u0131klad\u0131. Bir ba\u015fka deyi\u015fle kurlar artmaya devam ederse faiz art\u0131\u015f\u0131 de\u011fil, TL likidite s\u0131k\u0131la\u015ft\u0131rmas\u0131 ilk ba\u015fvurulacak ara\u00e7 olacak. <\/span><\/p>  <p><span class=\"large\"><strong>5. T\u00dcRK L\u0130RASI <\/strong><\/span><\/p>  <p><span class=\"large\">D\u00f6viz kurlar\u0131 taraf\u0131nda ise yeni faiz oranlar\u0131na ra\u011fmen T\u00fcrk Liras\u0131\u2019nda de\u011fer kayb\u0131 bask\u0131s\u0131 s\u00fcrecek. Faiz oranlar\u0131ndan ve T\u00fcrkiye\u2019den ba\u011f\u0131ms\u0131z olarak k\u00fcresel mali ko\u015fullar TL \u00fczerinde bask\u0131 yap\u0131yor. Bankalar\u0131n ve reel kesimin d\u00f6viz talebi de devam ediyor. <\/span><\/p>  <p><span class=\"large\"><strong>Son S\u00f6z:<\/strong> D\u00f6viz kurlar\u0131nda ve faiz oranlar\u0131nda yeni denge ve seviye aray\u0131\u015flar\u0131 s\u00fcrecek.<\/span><\/p>  \t\t\t\t","slug":"doviz-kurlari-ve-faizlerde-denge-arayisi-surecek","orjinalimage":null,"news_cover_min":null,"news_cover":null,"news_video_min":null,"news_video":null,"cropped_638x552":null,"cropped_310x208":null,"cropped_416x247":null,"cropped_197x247":null,"cropped_416x600":null,"cropped_1200x675":null,"tags":"K\u00f6\u015fe Yaz\u0131s\u0131","meta_title":"D\u00f6viz kurlar\u0131 ve faizlerde denge aray\u0131\u015f\u0131 s\u00fcrecek","meta_description":"Dr. Can G\u00fcrlesel","meta_keywords":"K\u00f6\u015fe Yaz\u0131s\u0131","view_count":150,"yt":0,"ytid":"","ytimage":null,"imgdate":"2000-01-01 00:00:00","cuff_cover":null,"cropped_358x214":null,"cropped_842x474":null}]}}