{"id":42221,"date":"2015-10-28T13:22:55","date_gmt":"2015-10-28T10:22:55","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=42221"},"modified":"2015-10-28T13:22:55","modified_gmt":"2015-10-28T10:22:55","slug":"2015-4-donem-tcmb-enflasyon-raporu","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/2015-4-donem-tcmb-enflasyon-raporu\/","title":{"rendered":"2015 4. D\u00f6nem \/ TCMB Enflasyon Raporu"},"content":{"rendered":"<p><strong><em>T\u00fcrkiye Cumhuriyet Merkez Bankas\u0131 2015 4. D\u00f6nem Enflasyon Raporu<\/em><\/strong><\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-2198498126\"><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>Genel De\u011ferlendirme<\/strong><\/p>\n<p>2015 y\u0131l\u0131n\u0131n \u00fc\u00e7\u00fcnc\u00fc \u00e7eyre\u011finde k\u00fcresel finans piyasalar\u0131ndaki oynakl\u0131klar devam etmi\u015ftir. K\u00fcresel para politikalar\u0131na dair belirsizliklerin yan\u0131 s\u0131ra k\u00fcresel b\u00fcy\u00fcmeye dair endi\u015feler bu d\u00f6nemde \u00f6n plana \u00e7\u0131km\u0131\u015ft\u0131r. Bu \u00e7er\u00e7evede, geli\u015fmi\u015f \u00fclkelerdeki uzun vadeli faizlerin oynakl\u0131\u011f\u0131 y\u00fcksek seviyelerini korurken belirsizlik g\u00f6stergelerinde de art\u0131\u015f ya\u015fanm\u0131\u015ft\u0131r (Grafik 1.1). \u00dc\u00e7\u00fcnc\u00fc \u00e7eyrek sonu ve d\u00f6rd\u00fcnc\u00fc \u00e7eyrek ba\u015flar\u0131nda ise ABD Merkez Bankas\u0131 (Fed)\u2019n\u0131n ilk faiz art\u0131\u015f\u0131 karar\u0131n\u0131 \u00f6teleyece\u011fine dair alg\u0131lar\u0131n g\u00fc\u00e7lenmesi, Avrupa Merkez Bankas\u0131 (ECB)\u2019n\u0131n parasal geni\u015flemeye devam edebilece\u011fini a\u00e7\u0131klamas\u0131 ve \u00c7in Merkez Bankas\u0131\u2019n\u0131n ekonomiyi destekleyici y\u00f6nde ald\u0131\u011f\u0131 kararlar sonras\u0131nda, finansal piyasalardaki oynakl\u0131klar bir miktar gerilemi\u015ftir.<\/p>\n<p>Geli\u015fmekte olan \u00fclkelerin finansal varl\u0131k fiyatlar\u0131 da bu dalgalanmalardan \u00f6nemli oranda etkilenmi\u015ftir. \u00dc\u00e7\u00fcnc\u00fc \u00e7eyrekte, geli\u015fmekte olan \u00fclkelerin risk primi g\u00f6stergelerinde bozulmalar ya\u015fanm\u0131\u015f, uzun vadeli faiz oranlar\u0131 y\u00fckselmi\u015f ve yerel para birimleri de\u011fer kaybetmi\u015ftir. Ayr\u0131ca, bu \u00fclkelere y\u00f6nelik portf\u00f6y ak\u0131mlar\u0131 an\u0131lan \u00e7eyrekte son y\u0131llar\u0131n en zay\u0131f g\u00f6r\u00fcn\u00fcm\u00fcn\u00fc sergilemi\u015f ve kur oynakl\u0131klar\u0131 yine son y\u0131llar\u0131n en y\u00fcksek seviyesine ula\u015fm\u0131\u015ft\u0131r (Grafik 1.2). D\u00f6rd\u00fcnc\u00fc \u00e7eyrek ba\u015f\u0131nda ise k\u00fcresel finans piyasalar\u0131nda g\u00f6zlenen oynakl\u0131k azal\u0131\u015f\u0131 ile birlikte, geli\u015fmekte olan \u00fclke finansal varl\u0131k fiyatlar\u0131nda k\u0131smi iyile\u015fmeler ya\u015fanm\u0131\u015ft\u0131r. Risk primi g\u00f6stergeleri ile uzun vadeli faizlerde d\u00fc\u015f\u00fc\u015fler g\u00f6zlenmi\u015f ve yerel para birimleri de\u011fer kay\u0131plar\u0131n\u0131n bir k\u0131sm\u0131n\u0131 geri alm\u0131\u015ft\u0131r. K\u00fcresel iktisadi faaliyette 2014 y\u0131l\u0131ndan beri ya\u015fanan yava\u015flama e\u011filimi 2015 y\u0131l\u0131 ikinci \u00e7eyre\u011finde de s\u00fcrm\u00fc\u015ft\u00fcr. Bu geli\u015fmede, \u00c7in ve di\u011fer baz\u0131 geli\u015fmekte olan \u00fclkelerdeki yava\u015flama etkili olmu\u015ftur. K\u00fcresel iktisadi faaliyetteki bu zay\u0131f seyir sonucunda emtia fiyatlar\u0131nda \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrekte d\u00fc\u015f\u00fc\u015fler ya\u015fanm\u0131\u015ft\u0131r.<\/p>\n<p>TCMB 2015 4. D\u00f6nem Enflasyon Raporu raporuna ula\u015fmak i\u00e7in <a href=\"http:\/\/www.tcmb.gov.tr\/wps\/wcm\/connect\/7d5801dd-86ad-42e7-8c63-9c36ed201861\/enf-ekim2015_tam.pdf?MOD=AJPERES&amp;CACHEID=7d5801dd-86ad-42e7-8c63-9c36ed201861\" target=\"_blank\" data-wpel-link=\"external\" rel=\"nofollow external noopener\">t\u0131klay\u0131n<\/a>.<\/p>\n<p>T\u00fcrkiye Cumhuriyet Merkez Bankas\u0131<\/p>\n","protected":false},"excerpt":{"rendered":"<p>T\u00fcrkiye Cumhuriyet Merkez Bankas\u0131 2015 4. D\u00f6nem Enflasyon Raporu Genel De\u011ferlendirme 2015 y\u0131l\u0131n\u0131n \u00fc\u00e7\u00fcnc\u00fc \u00e7eyre\u011finde k\u00fcresel finans piyasalar\u0131ndaki oynakl\u0131klar devam etmi\u015ftir. K\u00fcresel para politikalar\u0131na dair&hellip;<\/p>\n","protected":false},"author":1,"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":[1534,1650,1648,1649,1652],"class_list":["post-42221","post","type-post","status-publish","format-standard","hentry","category-tumyazilar","tag-ekonomi-haberleri","tag-merkez-bankasi-enflasyon-hedefi","tag-merkez-bankasi-enflasyon-raporu","tag-merkez-bankasi-enflasyon-tahmini","tag-tcmb-enflasyon-tahmini"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/42221","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=42221"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/42221\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=42221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=42221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=42221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}