{"id":1911,"date":"2011-06-23T09:48:04","date_gmt":"2011-06-23T06:48:04","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=1911"},"modified":"2011-06-23T09:48:12","modified_gmt":"2011-06-23T06:48:12","slug":"onlemler-ise-yarayacak-mi","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/onlemler-ise-yarayacak-mi\/","title":{"rendered":"\u00d6nlemler \u0130\u015fe Yarayacak m\u0131?"},"content":{"rendered":"<p>Kredi kar\u015f\u0131l\u0131klar\u0131n\u0131n artt\u0131r\u0131lmas\u0131, mevduat kar\u015f\u0131l\u0131klar\u0131n\u0131n artt\u0131r\u0131lmas\u0131ndan daha net sonu\u00e7 verecek ve canl\u0131l\u0131\u011fa fren olu\u015fturacak.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-2590825535\"><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>\u0130\u00e7 talepteki canl\u0131l\u0131\u011f\u0131n nedeni, faiz oranlar\u0131n\u0131n d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc. Uzun y\u0131llar y\u00fcksek faizle ya\u015famaya al\u0131\u015fm\u0131\u015f olan ekonomide faizlerin ge\u00e7mi\u015fle k\u0131yaslanmayacak kadar d\u00fc\u015f\u00fck d\u00fczeyde bulunmas\u0131, insanlar\u0131 tasarruf etmek yerine harcama yapmaya y\u00f6nlendiriyor. Eskiden y\u00fcksek enflasyon ortam\u0131nda ayn\u0131 y\u00f6nde sonu\u00e7 veren ters bir etki s\u00f6z konusuydu. \u0130nsanlar, \u201cYeni fiyat art\u0131\u015flar\u0131 gelmeden \u00f6nce alaca\u011f\u0131m\u0131 alay\u0131m\u201d d\u00fc\u015f\u00fcncesiyle hareket ediyordu. Ama o d\u00f6nemde faizler enflasyonun olduk\u00e7a \u00fczerinde oldu\u011fu i\u00e7in harcama e\u011filimini frenliyor, insanlar\u0131n bankalara mevduat yapmas\u0131na yol a\u00e7\u0131yordu. \u015eimdi faizler d\u00fc\u015f\u00fck oldu\u011fu i\u00e7in kimse mevduat yapmak istemiyor. Onun yerine gayrimenkule yat\u0131r\u0131m yapmay\u0131, arabas\u0131n\u0131 ve beyaz e\u015fyas\u0131n\u0131 yenilemeyi tercih ediyor. Mevduat yapmad\u0131klar\u0131 gibi \u00fcst\u00fcne bir de kredi kullanarak bor\u00e7lan\u0131yorlar. \u201cFaiz d\u00fc\u015f\u00fckken bor\u00e7lanay\u0131m, nas\u0131lsa y\u00fckselecek\u201d diye d\u00fc\u015f\u00fcn\u00fcyorlar.<br \/>\nB\u00fct\u00fcn bu d\u00fc\u015f\u00fcncelere g\u00f6re bi\u00e7imlenen yakla\u015f\u0131mlar i\u00e7 talebin canl\u0131 olmas\u0131na yol a\u00e7\u0131yor. Gayrimenkule talebin bu kadar artt\u0131\u011f\u0131 bir ortamda gayrimenkul fiyatlar\u0131 da h\u0131zla y\u00fckseliyor. Fiyatlar artt\u0131k\u00e7a f\u0131rsat\u0131 ka\u00e7\u0131rmak istemeyenler yeni gayrimenkuller talep ediyor ve fiyatlar daha da art\u0131yor.<\/p>\n<p><strong>\u2018Bekle g\u00f6r\u2019 politikas\u0131 <\/strong><br \/>\nT\u00fcketim mallar\u0131n\u0131n yan\u0131 s\u0131ra T\u00fcrkiye\u2019de \u00fcretilen mallar\u0131n \u00fcretiminde kullan\u0131lan girdilerin de bir b\u00f6l\u00fcm\u00fc d\u0131\u015far\u0131dan ithal edildi\u011fi i\u00e7in i\u00e7 talepteki bu canl\u0131l\u0131k ithalat\u0131n da artmas\u0131na yol a\u00e7\u0131yor. O nedenle de ba\u015fvurulacak ekonomi politikas\u0131n\u0131n ithalat\u0131 ve enflasyonu frenlemesi i\u00e7in i\u00e7 talep canl\u0131l\u0131\u011f\u0131n\u0131 denetleyecek bir politika olmas\u0131 gerekiyor. Merkez Bankas\u0131, elindeki para politikas\u0131 ara\u00e7lar\u0131ndan faizi kullanam\u0131yor, \u00e7\u00fcnk\u00fc faizi artt\u0131rsa o zaman s\u0131cak para giri\u015fi artacak ve TL daha fazla de\u011ferlenecek. Bu da yeniden s\u0131cak para giri\u015fine yol a\u00e7acak. Yani bir k\u0131s\u0131rd\u00f6ng\u00fc olu\u015facak. Bu ama\u00e7la kullanabilece\u011fi bir ba\u015fka ara\u00e7 olan kar\u015f\u0131l\u0131k oranlar\u0131n\u0131n artt\u0131r\u0131lmas\u0131 yolunu zaten denedi. Ne var ki bundan sonu\u00e7 alamad\u0131. Kredi plafonu uygulamas\u0131 (bankalar\u0131n a\u00e7abilece\u011fi kredilere tavan konulmas\u0131) san\u0131r\u0131m kimseye sevimli gelmiyor ki hi\u00e7 s\u00f6z\u00fc edilmedi. O zaman geriye elimizde maliye politikas\u0131 ara\u00e7lar\u0131 ve kredi kar\u015f\u0131l\u0131k oranlar\u0131 kal\u0131yor. Birbiriyle kar\u0131\u015ft\u0131r\u0131lmamas\u0131 i\u00e7in iki farkl\u0131 kar\u015f\u0131l\u0131k oran\u0131 oldu\u011funa de\u011finelim:<br \/>\n1- Bankalar\u0131n, toplad\u0131klar\u0131 mevduat kar\u015f\u0131l\u0131\u011f\u0131nda Merkez Bankas\u0131\u2019na yat\u0131rmas\u0131 gereken miktarlara mevduat zorunlu kar\u015f\u0131l\u0131klar\u0131 deniyor. 2- Bankalar\u0131n, a\u00e7aca\u011f\u0131 krediler i\u00e7in BDDK taraf\u0131ndan \u00f6ng\u00f6r\u00fclen oranlarda ay\u0131rmas\u0131 gereken kar\u015f\u0131l\u0131klara da kredi kar\u015f\u0131l\u0131klar\u0131 deniyor. Bu kar\u015f\u0131l\u0131klardan birisinin mevduata, di\u011ferinin krediye uygulan\u0131yor olmas\u0131na kar\u015f\u0131l\u0131k ikisi de bankalar\u0131n a\u00e7abilece\u011fi kredi miktar\u0131n\u0131 etkiliyor.<br \/>\nBDDK, bankalar\u0131n t\u00fcketici ihtiya\u00e7 kredileriyle ilgili kar\u015f\u0131l\u0131k oranlar\u0131n\u0131 y\u00fczde 1\u2019den 4\u2019e y\u00fckselterek bu arac\u0131 hafta ba\u015f\u0131nda uygulamaya soktu. Kan\u0131mca kredi kar\u015f\u0131l\u0131klar\u0131n\u0131n artt\u0131r\u0131lmas\u0131, mevduat kar\u015f\u0131l\u0131klar\u0131n\u0131n artt\u0131r\u0131lmas\u0131ndan daha net sonu\u00e7 verecek ve piyasadaki talep canl\u0131l\u0131\u011f\u0131na fren olu\u015fturacak gibi g\u00f6r\u00fcn\u00fcyor. Beklendi\u011fi gibi olursa i\u00e7 talep yava\u015flamas\u0131 sonucunda ithalat gerileyecek, s\u0131cak para giri\u015fi azalacak, TL de\u011fer yitirecek, cari a\u00e7\u0131k yava\u015f yava\u015f d\u00fc\u015fmeye ba\u015flayacak.<br \/>\nBu a\u015famada piyasadaki \u00f6nlem \u00f6nerilerine kulak t\u0131kay\u0131p bir yandan bu yeni \u00f6nlemin sonu\u00e7lar\u0131n\u0131 beklemek, bir yandan da Yunanistan\u2019daki geli\u015fmelerin yat\u0131r\u0131mc\u0131lar\u0131 ne y\u00f6nde etkileyece\u011fine bakmak i\u00e7in biraz nefeslenmekte yarar var. H\u00fck\u00fcmetin \u015fimdiye dek s\u0131kl\u0131kla izledi\u011fi ve \u00e7o\u011funlukla hakl\u0131 \u00e7\u0131kt\u0131\u011f\u0131 \u2018bekle g\u00f6r\u2019 politikas\u0131n\u0131 izlemenin yine tam zaman\u0131 gibi g\u00f6r\u00fcn\u00fcyor.<\/p>\n<p><strong>Mahfi E\u011e\u0130LMEZ<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kredi kar\u015f\u0131l\u0131klar\u0131n\u0131n artt\u0131r\u0131lmas\u0131, mevduat kar\u015f\u0131l\u0131klar\u0131n\u0131n artt\u0131r\u0131lmas\u0131ndan daha net sonu\u00e7 verecek ve canl\u0131l\u0131\u011fa fren olu\u015fturacak. \u0130\u00e7 talepteki canl\u0131l\u0131\u011f\u0131n nedeni, faiz oranlar\u0131n\u0131n d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc. Uzun y\u0131llar y\u00fcksek faizle&hellip;<\/p>\n","protected":false},"author":12,"featured_media":917,"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-1911","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\/1911","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\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=1911"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/1911\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/917"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=1911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=1911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=1911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}