{"id":16134,"date":"2012-05-31T19:43:54","date_gmt":"2012-05-31T17:43:54","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=16134"},"modified":"2012-05-31T19:44:07","modified_gmt":"2012-05-31T17:44:07","slug":"para-politikasinin-durusu","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/para-politikasinin-durusu\/","title":{"rendered":"Para Politikas\u0131n\u0131n Duru\u015fu"},"content":{"rendered":"<p>Son yap\u0131lan Para Politikas\u0131 Kurulu toplant\u0131s\u0131ndan sonra yap\u0131lan a\u00e7\u0131klama para politikas\u0131n\u0131n duru\u015funu &#8220;\u00d6n\u00fcm\u00fczdeki d\u00f6nemde her \u015fey olabilir&#8221; \u015feklinde \u00f6zetledi. Merkez Bankas\u0131 haks\u0131z de\u011fil. \u00d6zellikle Avrupa&#8217;dan kaynaklanan risklerle \u00f6n\u00fcm\u00fczdeki d\u00f6nemde her \u015fey olabilir. Ne olaca\u011f\u0131na ba\u011fl\u0131 olarak para politikas\u0131 gev\u015feyebilir de, s\u0131k\u0131la\u015ft\u0131r\u0131labilir de. Bu anlamda esneklik gerekli. Para politikas\u0131nda ileriye d\u00f6n\u00fck \u00e7ok fazla taahh\u00fct vermek bu a\u015famada \u00e7ok anlaml\u0131 de\u011fil.<br \/>\nMerkez Bankas\u0131&#8217;n\u0131n y\u0131l sonu enflasyon hedefini y\u00fczde 6.5&#8217;te tutmas\u0131 ve daha \u00f6nce bu rakam\u0131 &#8220;g\u00fc\u00e7l\u00fc bir taahh\u00fct&#8221; olarak nitelemesi \u00e7ok ger\u00e7ek\u00e7i de\u011fildi. Ama, \u015fimdilik bu rakam\u0131 de\u011fi\u015ftirmeyi d\u00fc\u015f\u00fcnmedikleri a\u00e7\u0131k. Nisan ay\u0131 enflasyonu herkes a\u00e7\u0131s\u0131ndan bir s\u00fcrprizdi. Beklentileri de, tahminleri de ciddi bir bi\u00e7imde alt\u00fcst etti. A\u00e7\u0131klamada vurguland\u0131\u011f\u0131 gibi, ekonomik b\u00fcy\u00fcme ikinci \u00fc\u00e7 ay ile beraber h\u0131zlanma e\u011filimine girdiyse, y\u0131l sonu i\u00e7in yap\u0131lan tahminlerin tutma olas\u0131l\u0131\u011f\u0131 daha da azalabilir. Buna kar\u015f\u0131l\u0131k, ilk \u00fc\u00e7 ayda olduk\u00e7a yava\u015flayan ekonomik b\u00fcy\u00fcmenin yava\u015flamaya devam etmesi Merkez Bankas\u0131 n\u0131n i\u015fini kolayla\u015ft\u0131ran bir unsur olabilir.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1532723294\"><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>MAL\u0130YE POL\u0130T\u0130KASI \u00d6NEML\u0130<\/strong><br \/>\nEkonomik b\u00fcy\u00fcmedeki yava\u015flamaya ne kadar tahamm\u00fcl edilece\u011fi bir ba\u015fka konu. Para Politikas\u0131 Kurulu a\u00e7\u0131klamas\u0131nda maliye politikalar\u0131 ve b\u00fct\u00e7e geli\u015fmeleri gibi konulara yer verilmemi\u015f. Halbuki, Merkez Bankas\u0131 a\u00e7\u0131s\u0131ndan Maliye politikas\u0131n\u0131n duru\u015fu giderek daha fazla \u00f6nem kazanma s\u00fcrecinde. Bir defaya mahsus kamu gelirlerinin yeterli olmamas\u0131 durumunda, dolayl\u0131 vergi oranlar\u0131n\u0131n art\u0131r\u0131lmas\u0131yla ortalama t\u00fcketici fiyatlar\u0131ndaki art\u0131\u015f\u0131n tahminlerin daha da \u00f6tesine ge\u00e7mesi az\u0131msanacak bir olas\u0131l\u0131k de\u011fil. Sonbahar aylar\u0131nda bir ba\u015fka nisan ay\u0131 vak\u0131as\u0131 ya\u015fanabilir.<br \/>\nHer ne kadar \u00f6nc\u00fc g\u00f6stergelerin ekonomik b\u00fcy\u00fcmenin yeniden h\u0131zland\u0131\u011f\u0131na i\u015faret etti\u011fi s\u00f6ylense de, durumun b\u00f6yle olmad\u0131\u011f\u0131 anla\u015f\u0131ld\u0131\u011f\u0131nda, Maliye politikas\u0131n\u0131n nas\u0131l bir \u015fekil alabilece\u011fi &#8220;Tek hedefim enflasyon&#8221; diyen Merkez Bankas\u0131&#8217;n\u0131 \u00e7ok yak\u0131ndan ilgilendiriyor.<br \/>\nPara Politikas\u0131 Kurulu&#8217;nun a\u00e7\u0131klamas\u0131nda haber de\u011feri en y\u00fcksek konu bankalar\u0131n TL munzam kar\u015f\u0131l\u0131klar\u0131 y\u00fck\u00fcml\u00fcl\u00fcklerinin daha b\u00fcy\u00fck bir b\u00f6l\u00fcm\u00fcn\u00fc d\u00f6vizle kar\u015f\u0131layabilecekleriydi. Son d\u00f6nemdeki d\u00f6viz kuru geli\u015fmelerine Merkez Bankas\u0131&#8217;n\u0131n g\u00fcnl\u00fck tepkilerini g\u00f6z \u00f6n\u00fcne al\u0131rsak, d\u00f6viz kurlar\u0131n\u0131n sepet baz\u0131nda belli bir d\u00fczeyin \u00fczerine \u00e7\u0131kmas\u0131na izin verilmeyece\u011fi anla\u015f\u0131l\u0131yor. Bu durumda, nominal maliyeti \u00e7ok daha d\u00fc\u015f\u00fck d\u00f6viz y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc yarat\u0131p nominal maliyeti daha y\u00fcksek olan TL munzam kar\u015f\u0131l\u0131k y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fc d\u00f6viz \u00fczerinden kar\u015f\u0131lamak bankalar i\u00e7in daha az maliyetli bir yakla\u015f\u0131m oluyor.<br \/>\nBu geli\u015fme d\u00f6vizde mevduat ve kredi faizlerinin artma (en az\u0131ndan d\u00fc\u015fmeme) e\u011filimine girmesine neden olabilir. Ayn\u0131 \u015fekilde, TL mevduat ve kredi faizleri de bu yolla a\u015fa\u011f\u0131 y\u00f6nde bask\u0131 alt\u0131na al\u0131nm\u0131\u015f oluyor.<\/p>\n<p>Yaz\u0131n\u0131n devam\u0131 i\u00e7in <strong><a href=\"http:\/\/www.bloomberght.com\/ht-yazarlar\/ercan-kumcu\/1153652-para-politikasinin-durusu\" target=\"_blank\" data-wpel-link=\"external\" rel=\"nofollow external noopener\">TIKLAYINIZ.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Son yap\u0131lan Para Politikas\u0131 Kurulu toplant\u0131s\u0131ndan sonra yap\u0131lan a\u00e7\u0131klama para politikas\u0131n\u0131n duru\u015funu &#8220;\u00d6n\u00fcm\u00fczdeki d\u00f6nemde her \u015fey olabilir&#8221; \u015feklinde \u00f6zetledi. Merkez Bankas\u0131 haks\u0131z de\u011fil. \u00d6zellikle Avrupa&#8217;dan&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-16134","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\/16134","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=16134"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/16134\/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=16134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=16134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=16134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}