{"id":38097,"date":"2015-01-29T14:39:42","date_gmt":"2015-01-29T12:39:42","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=38097"},"modified":"2015-01-29T14:40:24","modified_gmt":"2015-01-29T12:40:24","slug":"erol-gurcan-fomc-degerlendirmesi-2014-ocak","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/erol-gurcan-fomc-degerlendirmesi-2014-ocak\/","title":{"rendered":"Erol G\u00fcrcan &#8211; FOMC De\u011ferlendirmesi &#8211; 2015 Ocak"},"content":{"rendered":"<p><em><strong>Amerika Merkez Bankas\u0131 (Fed) 2015 y\u0131l\u0131n\u0131n ilk Federal A\u00e7\u0131k Piyasa Kurulu (FOMC) toplant\u0131s\u0131n\u0131 ger\u00e7ekle\u015ftirdi. Toplant\u0131dan beklenildi\u011fi gibi herhangi \u00f6nemli bir s\u00fcrpriz \u00e7\u0131kmad\u0131. <\/strong><\/em><\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-625087602\"><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>Al\u0131nan kararlar\u0131 ve toplant\u0131 sonras\u0131nda yay\u0131nlanan toplant\u0131 metninden \u00f6ne \u00e7\u0131kanlar\u0131 \u015fu \u015fekilde \u00f6zetleyebiliriz:<\/p>\n<ul>\n<li><strong>&#8220;Sab\u0131rl\u0131 olma\u201d ifadesi korundu:<\/strong> Daha \u00f6nceki FOMC toplant\u0131lar\u0131 sonras\u0131nda yay\u0131nlanan metinlerde \u201cfaizlerin kayda de\u011fer uzun bir s\u00fcre d\u00fc\u015f\u00fck kalaca\u011f\u0131\u201d belirtilmekteydi. Bir ge\u00e7i\u015f s\u00fcreci olarak tan\u0131mlanabilecek Aral\u0131k ay\u0131ndaki metinde bu ifadenin yan\u0131na \u201cfaiz art\u0131r\u0131m\u0131 konusunda sab\u0131rl\u0131 olunaca\u011f\u0131 ifadesi eklenmi\u015fti. 2015 y\u0131l\u0131n\u0131 ilk toplant\u0131s\u0131nda ise beklenildi\u011fi gibi \u201ckayda de\u011fer s\u00fcre faizlerin d\u00fc\u015f\u00fck kalaca\u011f\u0131\u201d ifadesi metinden tamamen \u00e7\u0131kar\u0131l\u0131rken; \u201c faiz art\u0131rmak i\u00e7in sab\u0131rl\u0131 olunca\u011f\u0131\u201d ifadesi korundu.<\/li>\n<\/ul>\n<ul>\n<li><strong>Kararlar oybirli\u011fiyle al\u0131nd\u0131:<\/strong> Toplant\u0131 \u00f6ncesinde yay\u0131nlad\u0131\u011f\u0131m\u0131z beklenti metninde, 2015 y\u0131l\u0131na girilmesiyle birlikte oy hakk\u0131 olan muhalif \u00fcyelerin yerine daha \u0131l\u0131ml\u0131 \u00fcyelerin geldi\u011fine; di\u011fer bir deyi\u015fle FOMC \u00fcye yap\u0131s\u0131n\u0131n daha \u201cg\u00fcvercin\u201d bir g\u00f6r\u00fcn\u00fcme b\u00fcr\u00fcnd\u00fc\u011f\u00fcne de\u011finmi\u015ftik. Nitekim, toplant\u0131 da al\u0131nan kararlar\u0131n \u00f6nceki toplant\u0131lar\u0131n yerine oybirli\u011fiyle al\u0131nm\u0131\u015f olmas\u0131 da bunu teyit etti diyebiliriz.<\/li>\n<li><\/li>\n<\/ul>\n<p>A\u015fa\u011f\u0131daki tablolarda FOMC\u2019nin 2014 y\u0131l\u0131 ve 2015 y\u0131l\u0131 \u00fcye da\u011f\u0131l\u0131m\u0131 verilmi\u015ftir. K\u0131rm\u0131z\u0131 ve ye\u015fil renkle yaz\u0131lan k\u0131s\u0131mlar de\u011fi\u015fen \u00fcyeleri g\u00f6stermektedir. Tablolar\u0131n sa\u011f\u0131nda yer alan puanlamalar, Deutsche Bank taraf\u0131ndan FOMC \u00fcyelerinin tutumlar\u0131na (g\u00fcvercin &#8211; \u015fahin) y\u00f6nelik puanlamalar\u0131 g\u00f6stermektedir. 2014 y\u0131l\u0131 \u00fcyeleri ve 2015 y\u0131l\u0131 \u00fcyelerinin ald\u0131\u011f\u0131 puanlar\u0131n ortalamalar\u0131na bak\u0131ld\u0131\u011f\u0131nda; yeni FOMC yap\u0131s\u0131n\u0131n daha g\u00fcvercin bir da\u011f\u0131l\u0131m sergiledi\u011fi g\u00f6r\u00fclmektedir.<\/p>\n<p style=\"text-align: right\"><a href=\"http:\/\/www.bilgeyatirimci.com\/wp-content\/uploads\/2015\/01\/FOMC-\u00dcye-29.01.2015.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\" size-full wp-image-38098 aligncenter\" src=\"http:\/\/www.bilgeyatirimci.com\/wp-content\/uploads\/2015\/01\/FOMC-\u00dcye-29.01.2015.png\" alt=\"FOMC \u00dcye - 29.01.2015\" width=\"606\" height=\"196\" srcset=\"https:\/\/www.bilgeyatirimci.com\/wp-content\/uploads\/2015\/01\/FOMC-\u00dcye-29.01.2015.png 606w, https:\/\/www.bilgeyatirimci.com\/wp-content\/uploads\/2015\/01\/FOMC-\u00dcye-29.01.2015-300x97.png 300w\" sizes=\"auto, (max-width: 606px) 100vw, 606px\" \/><\/a><br \/>\n<strong>Kaynak: Deutsche Bank<\/strong><\/p>\n<ul>\n<li><strong>Faiz art\u0131r\u0131m karar\u0131 i\u00e7in \u201cUluslararas\u0131 geli\u015fmelere\u201d de bak\u0131lacak:<\/strong> D\u00fcn yay\u0131nlanan metinde, Fed\u2019in faiz art\u0131r\u0131mlar\u0131 konusunda makroekonomik verilerin (istihdam, enflasyon, b\u00fcy\u00fcme) yan\u0131 s\u0131ra \u201culuslararas\u0131 geli\u015fmelere\u201d de bakaca\u011f\u0131n\u0131 ilk kez a\u00e7\u0131klama metnine ekledi. Son d\u00f6nemlerde k\u00fcresel ekonomideki dezenflasyonist s\u00fcrecin baz\u0131 ekonomiler i\u00e7in tehlikeli boyutlara ula\u015fmas\u0131 (enerji fiyatlar\u0131ndaki d\u00fc\u015f\u00fck seyrin bu durumu k\u00f6r\u00fcklemesi), bir\u00e7ok merkez bankas\u0131ndan arka arkaya gelen geni\u015fleyici ad\u0131mlar\u0131n (\u00f6zellikle de son ECB karar\u0131n\u0131n) bu ifadenin metne dahil olmas\u0131ndaki en \u00f6nemli etkenler oldu\u011funu d\u00fc\u015f\u00fcn\u00fcyoruz. Bu ifadenin 2 \u00f6nemli anlam ta\u015f\u0131d\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyoruz:<\/li>\n<\/ul>\n<ol>\n<li><strong>K\u00fcresel ekonomik dengelerin sars\u0131lmamas\u0131na dikkat edilecek:<\/strong> Faiz art\u0131r\u0131mlar\u0131 konusunda \u201csab\u0131rl\u0131\u201d olaca\u011f\u0131n\u0131 ifade eden Fed\u2019in, faiz art\u0131r\u0131m karar\u0131n\u0131n al\u0131nmas\u0131 i\u00e7in uluslararas\u0131 geli\u015fmeleri de dikkate alaca\u011f\u0131n\u0131 belirtmesinin; bizim gibi Geli\u015fmekte olan ekonomiler ve k\u00fcresel ekonomik dengeler a\u00e7\u0131s\u0131ndan olumlu oldu\u011funu d\u00fc\u015f\u00fcn\u00fcyoruz.<\/li>\n<li><strong>\u00a0Fed\u2019in eli art\u0131k daha g\u00fc\u00e7l\u00fc:<\/strong> Son d\u00f6nemlerde bir\u00e7ok merkez bankas\u0131n\u0131n att\u0131\u011f\u0131 geni\u015fleyici ad\u0131mlar ve \u00f6zellikle ECB\u2019den gelen rekor seviyedeki geni\u015fleyici \u00f6nlemlerin, gelecek d\u00f6nemlerde k\u00fcresel ekonomik b\u00fcy\u00fcmeye ve enflasyon taraf\u0131na katk\u0131 sa\u011flamaya ba\u015flamas\u0131 bekleniyor. Al\u0131nan bu \u00f6nlemler, Fed\u2019in faiz art\u0131r\u0131mlar\u0131n\u0131n getirebilece\u011fi olas\u0131 \u015foklara kar\u015f\u0131 k\u00fcresel ekonomide bir hava yast\u0131\u011f\u0131 g\u00f6revi g\u00f6rebilece\u011finden faiz art\u0131r\u0131m s\u00fcreci konusunda Fed\u2019i bir miktar daha rahatlatacak diyebiliriz.<\/li>\n<\/ol>\n<ul>\n<li><strong>Makroekomik beklentilerdeki duru\u015f korundu:<\/strong> Ekonomik verilere ili\u015fkin beklentiler konusunda en dikkat \u00e7eken ifadelerin b\u00fcy\u00fcme ve enflasyon taraf\u0131nda oldu\u011funu s\u00f6yleyebiliriz:<\/li>\n<\/ul>\n<ol>\n<li>\u00d6nceki d\u00f6nemlerdeki a\u00e7\u0131klama metinlerinde kullan\u0131lan \u201c\u0131l\u0131mll\u0131\u201d b\u00fcy\u00fcme ifadesi \u201cg\u00fc\u00e7l\u00fc\u201d b\u00fcy\u00fcme olarak de\u011fi\u015ftirildi. Bu de\u011fi\u015fiklik Fed\u2019in ekonomik beklentiler konusundaki tonlamas\u0131n\u0131 bir \u00fcst perdeye ta\u015f\u0131yor diyebiliriz.<\/li>\n<li>Enflasyonun d\u00fc\u015f\u00fck seyretmeye devam etti\u011fi ancak bu durumun ge\u00e7ici oldu\u011fu ifade edildi. Petrol fiyatlar\u0131ndaki mevcut d\u00fc\u015f\u00fck seyrin hane halk\u0131n\u0131n al\u0131m g\u00fcc\u00fcn\u00fc art\u0131rd\u0131\u011f\u0131na i\u015faret edilmesi de dikkat \u00e7ekici bir nokta olarak not edilmeli. Gelecek d\u00f6nemlerde petrol fiyatlar\u0131ndaki seyrin yan\u0131 s\u0131ra, \u00e7ekirdek T\u00dcFE\u2019deki seyri \u00f6ng\u00f6rebilmek ad\u0131na \u00f6zellikle ortalama i\u015f g\u00fcc\u00fc \u00fccretlerindeki geli\u015fmeler yak\u0131ndan takip edilmeli.<\/li>\n<li>A\u00e7\u0131klama metninin Toplant\u0131 metninde makroekonomiye ili\u015fkin yer alan di\u011fer \u00f6nemli noktalar\u0131 \u015fu \u015fekilde \u00f6zetleyebiliriz.<\/li>\n<li>\u0130stihdam piyasas\u0131ndaki toparlanma devam ediyor.<\/li>\n<li>Konut sekt\u00f6r\u00fcnde bir duraksama var.<\/li>\n<\/ol>\n<p><a href=\"http:\/\/www.bilgeyatirimci.com\/wp-content\/uploads\/2015\/01\/FOMC-ABD-Ekonomik-G\u00f6r\u00fcn\u00fcm-29.01.2015.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-38099\" src=\"http:\/\/www.bilgeyatirimci.com\/wp-content\/uploads\/2015\/01\/FOMC-ABD-Ekonomik-G\u00f6r\u00fcn\u00fcm-29.01.2015.png\" alt=\"FOMC - ABD Ekonomik G\u00f6r\u00fcn\u00fcm - 29.01.2015\" width=\"700\" height=\"216\" srcset=\"https:\/\/www.bilgeyatirimci.com\/wp-content\/uploads\/2015\/01\/FOMC-ABD-Ekonomik-G\u00f6r\u00fcn\u00fcm-29.01.2015.png 961w, https:\/\/www.bilgeyatirimci.com\/wp-content\/uploads\/2015\/01\/FOMC-ABD-Ekonomik-G\u00f6r\u00fcn\u00fcm-29.01.2015-300x92.png 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<p><strong>Faiz art\u0131r\u0131mlar\u0131 ne zaman ba\u015flayacak?<\/strong><br \/>\nFed\u2019in faiz art\u0131r\u0131m s\u00fcrecine ne zaman ba\u015flayaca\u011f\u0131na ili\u015fkin belirsizlik s\u00fcrmeye devam ediyor. A\u00e7\u0131klama sonras\u0131nda ABD borsalar\u0131yla birlikte ABD tahvil faizlerinde de d\u00fc\u015f\u00fc\u015f g\u00f6r\u00fclmesinin bak\u0131ld\u0131\u011f\u0131nda, a\u00e7\u0131klama metnindeki detaylar\u0131n hem \u015fahin hem de g\u00fcvercin olarak say\u0131labilecek ifadeleri bar\u0131nd\u0131rmas\u0131 nedeniyle piyasalar\u0131 bir miktar karars\u0131z b\u0131rakt\u0131\u011f\u0131n\u0131 s\u00f6yleyebiliriz. Karar\u0131n bizim ve k\u00fcresel piyasalara etkisinin s\u0131n\u0131rl\u0131 olaca\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyoruz.<br \/>\nFaiz art\u0131r\u0131m\u0131 konusunda \u201csab\u0131r\u201d ifadesinin yer almas\u0131 nedeniyle Fed\u2019in faiz art\u0131r\u0131mlar\u0131na gelecek 2 toplant\u0131 da (Mart ve Nisan) ba\u015flamas\u0131n\u0131 beklemiyoruz. Piyasadaki genel beklenti halen faiz art\u0131r\u0131mlar\u0131na Haziran toplant\u0131s\u0131nda itibaren ba\u015flanaca\u011f\u0131 y\u00f6n\u00fcnde. Ancak, faiz art\u0131r\u0131m\u0131nda dikkat edilecek unsurlar aras\u0131na \u201culuslararas\u0131 geli\u015fmeler\u201din dahil edilmi\u015f olmas\u0131n\u0131 ve para politikas\u0131nda at\u0131lan ad\u0131mlar\u0131n reel ekonomiye yans\u0131malar\u0131n\u0131n yakla\u015f\u0131k 3 -6 ayl\u0131k bir s\u00fcre\u00e7 alaca\u011f\u0131n\u0131 g\u00f6z \u00f6n\u00fcne ald\u0131\u011f\u0131m\u0131zda; Fed\u2019in, merkez bankalar\u0131n\u0131n son d\u00f6nemlerde att\u0131\u011f\u0131 geni\u015fleyici ad\u0131mlar\u0131n k\u00fcresel ekonomiye yans\u0131malar\u0131n\u0131 g\u00f6rmeyi bekleyerek faiz art\u0131r\u0131mlar\u0131n\u0131 Eyl\u00fcl ay\u0131ndan itibaren ba\u015flatmas\u0131n\u0131n ya da bir s\u00fcre daha \u00f6telemesinin art\u0131k \u00e7ok zay\u0131f bir ihtimal olmad\u0131\u011f\u0131n\u0131 da belirtmekte yarar g\u00f6r\u00fcyoruz.<\/p>\n<p><strong>\u00d6zetle\u2026<\/strong><br \/>\nBas\u0131n toplant\u0131s\u0131 ve ekonomik tahminlere ili\u015fkin g\u00fcncellemenin olmad\u0131\u011f\u0131 toplant\u0131dan beklenildi\u011fi gibi \u00f6nemli bir s\u00fcrpriz \u00e7\u0131kmad\u0131. De\u011fi\u015fen FOMC yap\u0131s\u0131yla birlikte kararl\u0131n oybirli\u011fiyle al\u0131nm\u0131\u015f olmas\u0131, faiz art\u0131r\u0131m\u0131 konusunda \u201csab\u0131rl\u0131 olma\u201d ifadesinin korunmas\u0131 ve uluslararas\u0131 geli\u015fmelerinde Fed\u2019in para politikas\u0131n\u0131n normalle\u015fmesi s\u00fcrecinde takip edilecek kriterler aras\u0131nda yer alma\u015f\u0131 k\u00fcresel piyasalardaki dengeler a\u00e7\u0131s\u0131ndan olumlu geli\u015fmeler olarak g\u00f6r\u00fclebilir. Ancak, makro ekonomik beklentilerdeki tonun bir miktar daha \u015fahin olarak nitelenebilecek perdeye ge\u00e7mi\u015f olmas\u0131 da g\u00f6z ard\u0131 edilmemeli.<\/p>\n<p><strong>Merkez Bankalar\u0131 konu\u015ftu; \u015fimdi neyi fiyatlayaca\u011f\u0131z?<\/strong><br \/>\nSon 2 haftal\u0131k s\u00fcre\u00e7te T\u00fcrkiye Cumhuriyet Merkez Bankas\u0131 (TCMB), Japonya Merkez Bankas\u0131 (BOJ), Avrupa Merkez Bankas\u0131 (ECB) ve son olarak da Fed kararlar\u0131n\u0131 takip ettik. Son haftalarda piyasalar\u0131n seyri a\u00e7\u0131s\u0131ndan Merkez Bankalar\u0131na y\u00f6nelik beklentiler ve buralardan gelen kararlar iyiden iyiye a\u011f\u0131rl\u0131\u011f\u0131n\u0131 hissettirmeye ba\u015flam\u0131\u015ft\u0131. Merkez Bankalar\u0131na y\u00f6nelik k\u0131sa vadeli beklentilerin \u00f6nemli \u00f6l\u00e7\u00fcde fiyatlanm\u0131\u015f olmas\u0131 nedeniyle; \u00f6n\u00fcm\u00fczdeki birka\u00e7 haftal\u0131k vadede piyasa neyi fiyatlayacak sorusuna yan\u0131t olarak:<\/p>\n<ul>\n<li>Yurti\u00e7inde;<\/li>\n<\/ul>\n<ol>\n<li>Kur taraf\u0131ndaki seyir<\/li>\n<li>3 \u015eubat\u2019taki 2015 y\u0131l\u0131 Ocak ay\u0131 T\u00dcFE verisi<\/li>\n<li>T\u00dcFE\u2019deki ger\u00e7ekle\u015fmelere g\u00f6re TCMB\u2019nin \u015eubat ay\u0131 toplant\u0131s\u0131n\u0131n \u00f6ne al\u0131p almayaca\u011f\u0131 ve ne kadarl\u0131k bir faiz indirimi yapabilece\u011fi<\/li>\n<li>\u00a05 \u015eubat itibariyle ba\u015flayacak olan Borsa \u0130stanbul\u2019da i\u015flem g\u00f6ren \u015firketlerin bilan\u00e7o a\u00e7\u0131klama d\u00f6nemi<\/li>\n<\/ol>\n<ul>\n<li>Yurtd\u0131\u015f\u0131nda,<\/li>\n<\/ul>\n<ol>\n<li>Yar\u0131n ABD\u2019den gelecek 2014 y\u0131l\u0131 4. \u00c7eyrek b\u00fcy\u00fcme ve \u0130stihdam Maliyet Endeksi<\/li>\n<li>ABD taraf\u0131nda a\u011f\u0131rl\u0131kl\u0131 olarak enflasyona etki edebilecek petrol fiyatlar\u0131 ve i\u015f g\u00fcc\u00fc \u00fccretlerine y\u00f6nelik veriler<\/li>\n<li>Avrupa taraf\u0131nda da Yunanistan kaynakl\u0131 haber ak\u0131\u015f\u0131<br \/>\n\u00d6ne \u00e7\u0131kacak geli\u015fmeler olarak listelenebilir.<\/li>\n<\/ol>\n<p>Erol G\u00fcrcan<\/p><div class=\"bilge-content-1\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-2369511088\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"3167340272\"\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>Ara\u015ft\u0131rma Uzman\u0131<br \/>\nGedik Yat\u0131r\u0131m<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amerika Merkez Bankas\u0131 (Fed) 2015 y\u0131l\u0131n\u0131n ilk Federal A\u00e7\u0131k Piyasa Kurulu (FOMC) toplant\u0131s\u0131n\u0131 ger\u00e7ekle\u015ftirdi. Toplant\u0131dan beklenildi\u011fi gibi herhangi \u00f6nemli bir s\u00fcrpriz \u00e7\u0131kmad\u0131. Al\u0131nan kararlar\u0131 ve&hellip;<\/p>\n","protected":false},"author":2885,"featured_media":0,"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":[1083,1352,1456,1355,1356,1357,1358,1359,1360,1362],"class_list":["post-38097","post","type-post","status-publish","format-standard","hentry","category-tumyazilar","tag-araci-kurum-arastirma-raporlari","tag-ekonomik-analiz-raporlari","tag-faiz-artirimi","tag-makro-ekonomi-analizleri","tag-makro-ekonomi-haberleri","tag-makro-ekonomik-analiz","tag-makro-ekonomik-analiz-raporlari","tag-makro-ekonomik-analizler","tag-makro-ekonomik-gostergeler","tag-makro-ekonomik-gostergelerin-yorumlanmasi"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/38097","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\/2885"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=38097"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/38097\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=38097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=38097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=38097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}