{"id":46611,"date":"2016-08-23T21:04:12","date_gmt":"2016-08-23T18:04:12","guid":{"rendered":"https:\/\/www.bilgeyatirimci.com\/?p=46611"},"modified":"2016-08-23T21:04:12","modified_gmt":"2016-08-23T18:04:12","slug":"cetin-unsalan-bankalar-neyi-bekliyor","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/cetin-unsalan-bankalar-neyi-bekliyor\/","title":{"rendered":"\u00c7etin \u00dcnsalan &#8211; Bankalar neyi bekliyor?  \u00a0"},"content":{"rendered":"<p><em><strong>Merkez Bankas\u0131 faiz politikas\u0131n\u0131, oranlar\u0131 yine d\u00fc\u015f\u00fcrerek s\u00fcrd\u00fcrd\u00fc. Bunun iktisadi olarak hangi sonu\u00e7lara neden olaca\u011f\u0131n\u0131 hep birlikte g\u00f6rece\u011fiz. Zira anlatsan\u0131z da anlamamakta \u0131srar ediliyor.<\/strong><\/em><\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-21780818\"><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>Fakat enflasyon hesab\u0131 \u00fczerinden konuya yakla\u015f\u0131ld\u0131\u011f\u0131nda Merkez\u2019in \u00e7ok fazla marj\u0131n\u0131n kalmad\u0131\u011f\u0131 biliniyor. Faizi ekonomik ger\u00e7eklere ra\u011fmen d\u00fc\u015f\u00fcr\u00fcp, bundan sonu\u00e7 beklemek ne yaz\u0131k ki bir hayalin pe\u015finden ko\u015fmakt\u0131r.<\/p>\n<p>\u00d6ncelikle bir prensibin alt\u0131n\u0131 \u00e7izelim. \u00dcreten bir \u00fclke yaratmak istiyorsan\u0131z, d\u00fc\u015f\u00fck faiz \u00f6nemlidir. Ama kredilerin ger\u00e7ekten reel sekt\u00f6re, \u00fcretime kanalize olmas\u0131 kayd\u0131yla\u2026 Ayr\u0131ca faizin d\u00fc\u015fmesi siyasilerin taleplerine g\u00f6re de\u011fil, iktisad\u0131n ger\u00e7eklerine g\u00f6re ger\u00e7ekle\u015fiyorsa\u2026<\/p>\n<p>Hali haz\u0131rda faiz oran\u0131n\u0131 d\u00fc\u015f\u00fcrmek, piyasada hi\u00e7bir etki yapm\u0131yor. Enflasyonun alt\u0131nda faiz sunmak ise sadece Merkez Bankas\u0131\u2019n\u0131n itibar\u0131n\u0131n zedelenmesini h\u0131zland\u0131r\u0131yor. \u00c7\u00fcnk\u00fc piyasada uygulanan kredi maliyeti, yani faizler a\u00e7\u0131klanan oran\u0131n kat be kat \u00fczerinde.<\/p>\n<p>Yine d\u00fc\u015f\u00fck faizle kredi sunman\u0131n, o \u00fclkede yat\u0131r\u0131m\u0131n artmas\u0131 i\u00e7in de tek ba\u015f\u0131na yeterli bir arg\u00fcman de\u011fil. Bunun en g\u00fczel \u00f6rne\u011fi negatif faizin sunuldu\u011fu \u00fclkelerde bile yat\u0131r\u0131mlar\u0131n harekete ge\u00e7miyor olmas\u0131d\u0131r.<\/p>\n<p>E\u011fer faizin kal\u0131c\u0131 ve ger\u00e7ek\u00e7i olarak d\u00fc\u015fmesini arzuluyorsan\u0131z, bu bir talep de\u011fil, uygulanacak planl\u0131 bir ekonominin neticesinde olur. Ayr\u0131ca projelendirilen bu yap\u0131n\u0131n da d\u00fcnya pazar\u0131ndaki hacme y\u00f6nelik geli\u015fmelerle \u00f6rt\u00fc\u015fmesi gerekir. Yani faiz oran\u0131, s\u00f6ylendi\u011fi gibi ba\u015flang\u0131\u00e7 de\u011fil; sonu\u00e7 noktas\u0131d\u0131r.<\/p>\n<p>\u0130stanbul Ticaret Borsas\u0131 Ba\u015fkan\u0131 Ali Kopuz bir a\u00e7\u0131klama yaparak, bankalar\u0131n neyi bekledi\u011fini sordu. \u0130\u015fte bir\u00e7ok ki\u015finin akl\u0131nda olan ve Kopuz\u2019un dillendirdi\u011fi bu ger\u00e7e\u011fin tek kelimelik a\u00e7\u0131klamas\u0131 var: Maliyet\u2026<\/p>\n<p>Ekonomi y\u00f6netiminin ortaya koydu\u011fu veriler, piyasalardaki paran\u0131n maliyetinin ger\u00e7ekleriyle ba\u011fda\u015fm\u0131yor. Tasarrufu d\u00fc\u015f\u00fck, bor\u00e7 oran\u0131 y\u00fcksek finansman ger\u00e7e\u011fi de buna olanak tan\u0131m\u0131yor.<\/p><div class=\"bilge-content-1\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1911476800\"><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>A\u00e7\u0131klanan banka k\u00e2rlar\u0131n\u0131n \u00f6nemli bir k\u0131sm\u0131n\u0131n k\u00e2\u011f\u0131t \u00fczerinde oldu\u011funu g\u00f6rmez; faizin enflasyon maliyetini anlamazsan\u0131z; bu sorunun yan\u0131t\u0131n\u0131 da bulamazs\u0131n\u0131z. Yani iddia edildi\u011fi gibi faiz d\u00fc\u015f\u00fcnce enflasyon d\u00fc\u015fmez. Enflasyon d\u00fc\u015ferse, faiz oranlar\u0131 geriler.<\/p>\n<p>Siz bunlar\u0131 g\u00f6z ard\u0131 edip bankalara bask\u0131 yapmay\u0131 s\u00fcrd\u00fcr\u00fcrseniz, sadece bat\u0131k miktar\u0131n\u0131 \u00e7o\u011falt\u0131rs\u0131n\u0131z. Faiz oran\u0131n\u0131 talebinizle d\u00fc\u015fecek bir \u015fey, reel sekt\u00f6r\u00fc de gayrimenkulden ibaret zannederseniz bu i\u015fin i\u00e7inden \u00e7\u0131kamay\u0131z.<\/p>\n<p>Bu ancak kapsaml\u0131 ve planl\u0131 bir ekonomiye ge\u00e7i\u015fle, inand\u0131r\u0131c\u0131 ve kararl\u0131 politikalarla talep edebilece\u011finiz bir eylemdir. Bir de tabi bu a\u00e7maz\u0131n s\u0131rr\u0131n\u0131 y\u0131llard\u0131r uygulanan yanl\u0131\u015f ekonomi politikas\u0131nda ve \u2018ba\u015far\u0131l\u0131 ekonomi palavras\u0131\u2019nda arayacaks\u0131n\u0131z.<\/p>\n<p>Yoksa biriniz \u00e7\u0131k\u0131p y\u0131llard\u0131r kollad\u0131\u011f\u0131 bankalar\u0131n niye \u015fimdi s\u00f6z\u00fcn\u00fc dinlemedi\u011fini d\u00fc\u015f\u00fcn\u00fcp sinirlenir; di\u011ferleri de soru sorar: Bankalar neyi bekliyor?<\/p><div class=\"bilge-content-2\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-3098637291\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"1818807385\"\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><a href=\"mailto:cetinunsalan@yahoo.com\">cetinunsalan@yahoo.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Merkez Bankas\u0131 faiz politikas\u0131n\u0131, oranlar\u0131 yine d\u00fc\u015f\u00fcrerek s\u00fcrd\u00fcrd\u00fc. Bunun iktisadi olarak hangi sonu\u00e7lara neden olaca\u011f\u0131n\u0131 hep birlikte g\u00f6rece\u011fiz. Zira anlatsan\u0131z da anlamamakta \u0131srar ediliyor. Fakat&hellip;<\/p>\n","protected":false},"author":5,"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":[904,808,801],"class_list":["post-46611","post","type-post","status-publish","format-standard","hentry","category-tumyazilar","tag-cetin-unsalan-yazilari","tag-ekonomi-makaleleri","tag-ekonomi-yazarlari-listesi"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/46611","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\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=46611"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/46611\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=46611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=46611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=46611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}