{"id":13352,"date":"2012-03-26T13:57:04","date_gmt":"2012-03-26T11:57:04","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=13352"},"modified":"2012-03-26T13:57:11","modified_gmt":"2012-03-26T11:57:11","slug":"normallesme-henuz-baslamadi","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/normallesme-henuz-baslamadi\/","title":{"rendered":"Normalle\u015fme Hen\u00fcz Ba\u015flamad\u0131"},"content":{"rendered":"<p>T\u00fcrkiye ekonomisinde normalle\u015fmenin \u00f6nemli \u00f6l\u00e7\u00fclerinden biri Merkez Bankas\u0131&#8217;n\u0131n d\u00f6viz al\u0131mlar\u0131 yoluyla d\u00f6viz rezervlerini art\u0131rabilmesidir. B\u00f6yle d\u00f6nemlerde d\u00f6viz kurlar\u0131 genellikle d\u00fc\u015f\u00fc\u015f e\u011filimine girer. Ekonomiye ciddi miktarlarda d\u0131\u015f kaynak giri\u015fi ya\u015fan\u0131r. Ekonomik faaliyet canl\u0131d\u0131r. Ekonomide b\u00fcy\u00fcme s\u00f6z konusudur. Enflasyon g\u00f6reli olarak sakindir.<br \/>\nGe\u00e7en y\u0131l\u0131n ikinci yar\u0131s\u0131nda, \u00f6zellikle de y\u0131l\u0131n son \u00fc\u00e7 ay\u0131nda bu normalden uzakla\u015f\u0131ld\u0131. Ekonomide bilin\u00e7li belirsizlik yarat\u0131ld\u0131. D\u0131\u015f kaynak giri\u015finde t\u0131kan\u0131kl\u0131klar ya\u015fand\u0131. Merkez Bankas\u0131 bir yandan artan kurlar\u0131 dizginlemeye y\u00f6nelik olarak, di\u011fer taraftan ekonominin d\u00f6viz ihtiyac\u0131n\u0131n en az\u0131ndan bir k\u0131sm\u0131n\u0131 kar\u015f\u0131layabilmek i\u00e7in d\u00f6viz rezervlerini kulland\u0131. Ekonomik b\u00fcy\u00fcme y\u0131l\u0131n son \u00fc\u00e7 ay\u0131nda, \u00f6nceki dokuz aya g\u00f6re, yar\u0131dan fazla azald\u0131. Enflasyon \u00e7ift haneli oldu. B\u00fcy\u00fcme h\u0131zla yava\u015flad\u0131.<br \/>\nT\u00fcrkiye ekonomisi yeniden normale d\u00f6nd\u00fc diyebilmemiz i\u00e7in yeniden Merkez Bankas\u0131&#8217;n\u0131n d\u00f6viz rezervlerini, d\u00f6viz bor\u00e7lanmalar\u0131 yoluyla de\u011fil, do\u011frudan d\u00f6viz al\u0131mlar\u0131 yoluyla art\u0131rmas\u0131 gerekiyor. Hen\u00fcz bu a\u015famaya gelebilmi\u015f de\u011filiz.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-3782570174\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"9580705384\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p><strong>MERKEZ BANKASI B\u0130LAN\u00c7OSU<\/strong><br \/>\nGe\u00e7en y\u0131l\u0131n ortas\u0131nda Merkez Bankas\u0131&#8217;n\u0131n d\u00f6viz varl\u0131klar\u0131 (Haftal\u0131k Vaziyet Tablosu&#8217;nda A2 kalemi) 93.8 milyar dolard\u0131. Rezervlerin 44.8 milyar dolar\u0131 bor\u00e7lan\u0131lm\u0131\u015f d\u00f6vizlerdi (Haftal\u0131k Vaziyet Tablosu&#8217;nda P4B kalemi). Ge\u00e7en y\u0131l\u0131n sonuna geldi\u011fimizde, d\u00f6viz rezervleri 78.3 milyar dolara inmi\u015fti. Bunun 48 milyar dolar\u0131 bor\u00e7lan\u0131lm\u0131\u015f d\u00f6vizlerdi.<br \/>\nBir ba\u015fka ifadeyle, ge\u00e7en y\u0131l\u0131n ikinci yar\u0131s\u0131nda Merkez Bankas\u0131&#8217;n\u0131n net d\u00f6viz portf\u00f6y\u00fc (d\u00f6viz rezervleri ile d\u00f6viz mevduatlar\u0131 aras\u0131ndaki fark) 49 milyar dolardan 30.3 milyar dolara gerilemi\u015fti. Neredeyse 20 milyar dolarl\u0131k bir d\u00f6viz (bor\u00e7lan\u0131lmam\u0131\u015f d\u00f6viz) kayb\u0131 s\u00f6z konusuydu.<br \/>\nY\u0131lba\u015f\u0131ndan bu yana Merkez Bankas\u0131&#8217;n\u0131n d\u00f6viz durumu istikrara kavu\u015ftu, ama normale d\u00f6nmedi. Y\u0131lba\u015f\u0131ndan 16 Mart tarihine kadar olan d\u00f6nemde Merkez Bankas\u0131&#8217;n\u0131n d\u00f6viz rezervleri 78.9 milyar dolara geldi. Y\u0131l\u0131n ilk iki bu\u00e7uk ay\u0131nda d\u00f6viz rezervleri yakla\u015f\u0131k 548 milyar dolar artt\u0131. Buna kar\u015f\u0131l\u0131k, Merkez Bankas\u0131&#8217;n\u0131n bor\u00e7land\u0131\u011f\u0131 d\u00f6viz miktar\u0131 ayn\u0131 d\u00f6nemde 5.5 milyar dolar artarak 53.5 milyar dolara y\u00fckseldi. K\u0131sacas\u0131, mevduat yoluyla gelen 5.5 milyar dolar\u0131n ancak yar\u0131m milyar\u0131 rezervlere katk\u0131 yapm\u0131\u015f.<br \/>\nBir ba\u015fka ifadeyle, Merkez Bankas\u0131&#8217;n\u0131n bor\u00e7lan\u0131lmam\u0131\u015f d\u00f6viz rezervi (net d\u00f6viz portf\u00f6y\u00fc) y\u0131l\u0131n ilk iki ayl\u0131k d\u00f6neminde 5 milyar dolara yak\u0131n gerilemi\u015f oldu. Merkez Bankas\u0131 Hazine&#8217;den ve bankalardan olan d\u00f6viz mevduatlar\u0131n\u0131 art\u0131ramam\u0131\u015f olsayd\u0131, d\u00f6viz rezervleri ilk iki ayda 5 milyar dolara yak\u0131n d\u00fc\u015fmeye devam edecekti. Bu duruma &#8220;normal&#8221; diyemeyiz.<\/p>\n<p>Yaz\u0131n\u0131n devam\u0131 i\u00e7in <strong><a href=\"http:\/\/www.bloomberght.com\/ht-yazarlar\/ercan-kumcu\/1108893-normallesme-henuz-baslamadi\" target=\"_blank\" data-wpel-link=\"external\" rel=\"nofollow external noopener\">TIKLAYINIZ.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>T\u00fcrkiye ekonomisinde normalle\u015fmenin \u00f6nemli \u00f6l\u00e7\u00fclerinden biri Merkez Bankas\u0131&#8217;n\u0131n d\u00f6viz al\u0131mlar\u0131 yoluyla d\u00f6viz rezervlerini art\u0131rabilmesidir. B\u00f6yle d\u00f6nemlerde d\u00f6viz kurlar\u0131 genellikle d\u00fc\u015f\u00fc\u015f e\u011filimine girer. Ekonomiye ciddi miktarlarda&hellip;<\/p>\n","protected":false},"author":675,"featured_media":9441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tumyazilar"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/13352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/users\/675"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=13352"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/13352\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/9441"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=13352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=13352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=13352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}