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Ge\u00e7ti\u011fimiz hafta Avrupa Merkez Bankas\u0131\u2019n\u0131n (ECB) ald\u0131\u011f\u0131 radikal kararlar\u0131n ard\u0131ndan bu hafta g\u00f6zler Fed\u2019e \u00e7evrildi. Fed toplant\u0131s\u0131 per\u015fembe ak\u015fam\u0131 sonlanacak. ECB\u2019nin kararlar\u0131 ve cuma g\u00fcn\u00fc a\u00e7\u0131klanan son tar\u0131m d\u0131\u015f\u0131 istihdam rakamlar\u0131 ard\u0131ndan Fed\u2019den parasal geni\u015fleme beklentisi artt\u0131. Bu haftan\u0131n ana g\u00fcndemi Fed\u2019in bu toplant\u0131s\u0131ndan \u00e7\u0131kacak sonu\u00e7lar iken, i\u00e7eride sal\u0131 g\u00fcn\u00fc a\u00e7\u0131klanacak olan temmuz ay\u0131 cari a\u00e7\u0131k rakam\u0131 \u00f6n plana \u00e7\u0131k\u0131yor.<\/p>\n
Avrupa Merkez Bankas\u0131 (ECB) krizle m\u00fccadele konusunda \u015fuana kadarki en kararl\u0131 ad\u0131m\u0131n\u0131 ge\u00e7ti\u011fimiz hafta att\u0131. \u015euana kadar al\u0131nan \u00f6nlemlerin Avrupa\u2019n\u0131n sorunlu \u00fclkelerindeki faizleri d\u00fc\u015f\u00fcrememi\u015f olmas\u0131 ECB\u2019yi daha radikal ad\u0131mlar atmaya zorlad\u0131. ECB ge\u00e7ti\u011fimiz hafta ald\u0131\u011f\u0131 kararla ikincil piyasadan vadesine 3 y\u0131ldan az kalm\u0131\u015f devlet tahvili alaca\u011f\u0131n\u0131 a\u00e7\u0131klad\u0131. Al\u0131mlar i\u00e7in bir \u00fcst s\u0131n\u0131r verilmezken, al\u0131mlar\u0131n haftal\u0131k bazda planlanaca\u011f\u0131 duyuruldu. Bu uygulama Avrupa\u2019da faizlerin yukar\u0131 y\u00f6nl\u00fc her hareketinde ECB\u2019nin m\u00fcdahalesi olacak \u015feklinde yorumlanabilir. Al\u0131nan bu karar may\u0131s ay\u0131ndan beri %6\u2019n\u0131n \u00fczerinde olan ve bir ara %7,5\u2019e kadar y\u00fckselen \u0130spanya 10 y\u0131ll\u0131klar\u0131ndaki ate\u015fi de s\u00f6nd\u00fcrd\u00fc. Faizler uzun bir aradan sonra %6\u2019n\u0131n alt\u0131na sarkt\u0131 ve bu haftata %5,70\u2019in alt\u0131nda ba\u015flad\u0131. ECB\u2019nin per\u015fembe g\u00fcn\u00fc ald\u0131\u011f\u0131 bu kararlar piyasalara \u00e7ar\u015famba g\u00fcn\u00fc s\u0131zd\u0131r\u0131lm\u0131\u015ft\u0131. Karar \u00f6ncesi gerek borsalarda gerekse emtialarda ba\u015flayan y\u00fckseli\u015f, kararla birlikte devam etti. Almanya\u2019da DAX endeksi 2011 Temmuz\u2019undan sonra g\u00f6rd\u00fc\u011f\u00fc en y\u00fcksek seviyelere \u00e7\u0131karken, ABD\u2019de de 2008 krizinden sonra g\u00f6r\u00fclen zirveler yeniden test edilmeye ba\u015fland\u0131. ECB\u2019nin ard\u0131ndan piyasalar g\u00f6zlerini bu hafta per\u015fembe g\u00fcn\u00fc sonu\u00e7lanacak Fed toplant\u0131s\u0131na \u00e7evirdi. Bu toplant\u0131 \u00f6ncesinde cuma g\u00fcn\u00fc a\u00e7\u0131klanan tar\u0131m d\u0131\u015f\u0131 istihdam rakam\u0131ndaki art\u0131\u015f, yine hayal k\u0131r\u0131kl\u0131 yaratt\u0131. Buna kar\u015f\u0131n verinin k\u00f6t\u00fc gelmesi Fed\u2019in parasal geni\u015fleme y\u00f6n\u00fcnde elini daha da rahatlatt\u0131.<\/p>