{"id":2655,"date":"2026-09-07T09:33:41","date_gmt":"2026-09-07T09:33:41","guid":{"rendered":"https:\/\/www.kayaismail.com\/?p=2655"},"modified":"2026-09-07T09:33:41","modified_gmt":"2026-09-07T09:33:41","slug":"faiz-inecek-mi","status":"publish","type":"post","link":"https:\/\/www.kayaismail.com\/index.php\/2026\/09\/07\/faiz-inecek-mi\/","title":{"rendered":"FA\u0130Z \u0130NECEK M\u0130?"},"content":{"rendered":"\n<p><strong>As\u0131l Sinyal Haftal\u0131k Repo\u2019dan Geldi<\/strong><\/p>\n\n\n\n<p>10 Eyl\u00fcl Per\u015fembe g\u00fcn\u00fc Merkez Bankas\u0131\u2019n\u0131n Para Politikas\u0131 Kurulu toplant\u0131s\u0131 var. G\u00f6zler yine ayn\u0131 soruda:<\/p>\n\n\n\n<p><strong>Faiz inecek mi?<\/strong><\/p>\n\n\n\n<p>Piyasan\u0131n a\u011f\u0131rl\u0131kl\u0131 beklentisi&nbsp;<strong>%37\u2019nin korunmas\u0131<\/strong>&nbsp;y\u00f6n\u00fcnde. Benim beklentim ise daha net:<\/p>\n\n\n\n<p><strong>%90 ihtimalle politika faizi %37\u2019de sabit b\u0131rak\u0131lacak.<\/strong><\/p>\n\n\n\n<p>Ancak bu toplant\u0131y\u0131 yaln\u0131zca a\u00e7\u0131klanacak faiz oran\u0131 \u00fczerinden okumamak gerekiyor.<\/p>\n\n\n\n<p>\u00c7\u00fcnk\u00fc Merkez Bankas\u0131, yakla\u015f\u0131k 6 ayl\u0131k aran\u0131n ard\u0131ndan&nbsp;<strong>haftal\u0131k repo ihalelerine yeniden ba\u015flad\u0131.<\/strong>B\u00f6ylece bankalar\u0131n fonlama maliyetinin yeniden %37 olan haftal\u0131k repo faizine yakla\u015fmas\u0131n\u0131n \u00f6n\u00fc a\u00e7\u0131ld\u0131.&nbsp;<\/p>\n\n\n\n<p>Bence as\u0131l mesaj burada.<\/p>\n\n\n\n<p>Politika faizi hen\u00fcz de\u011fi\u015fmedi ama&nbsp;<strong>fiili fonlama taraf\u0131nda bir normalle\u015fme ba\u015flad\u0131.<\/strong>&nbsp;Bu nedenle haftal\u0131k repo ad\u0131m\u0131n\u0131, do\u011frudan bir faiz indirimi olarak de\u011fil; faiz indirimi \u00f6ncesinde finansal ko\u015fullar\u0131n haz\u0131rlanmaya ba\u015flamas\u0131 olarak okuyorum.<\/p>\n\n\n\n<p>Peki neden %37\u2019de kalaca\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyorum?<\/p>\n\n\n\n<p>\u00c7\u00fcnk\u00fc Merkez Bankas\u0131 a\u00e7\u0131s\u0131ndan enflasyon g\u00f6r\u00fcn\u00fcm\u00fcnde h\u00e2l\u00e2 temkinli olmak gerekiyor. Buna kar\u015f\u0131l\u0131k haftal\u0131k repo kanal\u0131n\u0131n yeniden a\u00e7\u0131lmas\u0131, piyasaya daha kontroll\u00fc bir gev\u015feme mesaj\u0131 vermek i\u00e7in \u00f6nemli bir ara\u00e7.<\/p>\n\n\n\n<p>Yani Merkez Bankas\u0131 bir anlamda&nbsp;<strong>\u201cHen\u00fcz politika faizini indirmiyorum ama finansal ko\u015fullar\u0131 da s\u0131k\u0131la\u015ft\u0131rmaya devam etmiyorum\u201d<\/strong>&nbsp;diyor.<\/p>\n\n\n\n<p>Bence 10 Eyl\u00fcl karar\u0131n\u0131n as\u0131l \u00f6nemi de burada.<\/p>\n\n\n\n<p><strong>Net konu\u015fay\u0131m:<\/strong><\/p>\n\n\n\n<p>10 Eyl\u00fcl\u2019de faiz indirimi beklemiyorum.<\/p>\n\n\n\n<p>Ama faiz indirim s\u00fcrecinin&nbsp;<strong>haz\u0131rl\u0131\u011f\u0131n\u0131n ba\u015flad\u0131\u011f\u0131n\u0131<\/strong>&nbsp;d\u00fc\u015f\u00fcn\u00fcyorum.<\/p>\n\n\n\n<p>Bu nedenle Per\u015fembe g\u00fcn\u00fc sadece&nbsp;<strong>\u201cFaiz %37\u2019de kald\u0131\u201d<\/strong>&nbsp;demek eksik bir okuma olur.<\/p>\n\n\n\n<p>As\u0131l bak\u0131lmas\u0131 gereken, Merkez Bankas\u0131\u2019n\u0131n bundan sonraki toplant\u0131larda haftal\u0131k repo kanal\u0131n\u0131 nas\u0131l kullanaca\u011f\u0131 ve finansal ko\u015fullar\u0131 ne \u00f6l\u00e7\u00fcde gev\u015fetece\u011fi.<\/p>\n\n\n\n<p>E\u011fer enflasyon g\u00f6r\u00fcn\u00fcm\u00fc izin verir, kur ve rezerv taraf\u0131nda sorun olu\u015fmazsa,&nbsp;<strong>as\u0131l faiz indirimi i\u00e7in g\u00f6zler Ekim toplant\u0131s\u0131na \u00e7evrilebilir.<\/strong><\/p>\n\n\n\n<p><strong>Sevgiyle kal\u0131n.&nbsp;<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As\u0131l Sinyal Haftal\u0131k Repo\u2019dan Geldi 10 Eyl\u00fcl Per\u015fembe g\u00fcn\u00fc Merkez Bankas\u0131\u2019n\u0131n Para Politikas\u0131 Kurulu toplant\u0131s\u0131 var. G\u00f6zler yine ayn\u0131 soruda:&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2656,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-2655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ozgun-yazilar"],"_links":{"self":[{"href":"https:\/\/www.kayaismail.com\/index.php\/wp-json\/wp\/v2\/posts\/2655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kayaismail.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kayaismail.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kayaismail.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kayaismail.com\/index.php\/wp-json\/wp\/v2\/comments?post=2655"}],"version-history":[{"count":1,"href":"https:\/\/www.kayaismail.com\/index.php\/wp-json\/wp\/v2\/posts\/2655\/revisions"}],"predecessor-version":[{"id":2657,"href":"https:\/\/www.kayaismail.com\/index.php\/wp-json\/wp\/v2\/posts\/2655\/revisions\/2657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kayaismail.com\/index.php\/wp-json\/wp\/v2\/media\/2656"}],"wp:attachment":[{"href":"https:\/\/www.kayaismail.com\/index.php\/wp-json\/wp\/v2\/media?parent=2655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kayaismail.com\/index.php\/wp-json\/wp\/v2\/categories?post=2655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kayaismail.com\/index.php\/wp-json\/wp\/v2\/tags?post=2655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}