{"id":86832,"date":"2011-10-31T10:50:37","date_gmt":"2011-10-31T08:50:37","guid":{"rendered":"http:\/\/www.nationalturk.com\/?p=86832"},"modified":"2019-03-28T11:30:21","modified_gmt":"2019-03-28T08:30:21","slug":"mb-ne-kadar-radikal-512","status":"publish","type":"post","link":"https:\/\/www.nationalturk.com\/tr\/mb-ne-kadar-radikal-512\/","title":{"rendered":"MB ,Ne Kadar Radikal?"},"content":{"rendered":"

\"\"<\/a><\/h3>\n

NationalTurk yorumcular\u0131m\u0131zdan Ekonomi ve Borsa uzman\u0131 \u00d6mer Demir \u2018in, bu haftaki \u201c MB ,Ne Kadar Radikal? \u201d adl\u0131 makalesini sizlerle payla\u015f\u0131yoruz.<\/h3>\n

Bu haftaya damgas\u0131n\u0131 vuran en \u00f6nemli\u00a0geli\u015fme ,\u015f\u00fcphesiz y\u0131l\u0131n son enflasyon raporu\u00a0ve Ekim PPK toplant\u0131 \u00f6zetini ,eylem plan\u0131\u00a0\u00e7er\u00e7evesinde a\u00e7\u0131klayan Ba\u015fkan Ba\u015f\u00e7\u0131\u2019n\u0131n a\u00e7\u0131klamalar\u0131 oldu. MB\u2019n\u0131n son\u00a0bir ay i\u00e7inde yapt\u0131klar\u0131ndan sonra \u00f6ng\u00f6r\u00fclebilirli\u011fin taban yapt\u0131\u011f\u0131 bir\u00a0d\u00f6nemde komuoyuna sunulan eylem plan\u0131, temelde TL\u2019yi\u00a0g\u00fc\u00e7lendirecek be\u015f maddelik hareket mekanizmas\u0131n\u0131n kararl\u0131l\u0131kla\u00a0uygulanaca\u011f\u0131na i\u015faret ediyor. Ba\u015f\u00e7\u0131\u2019n\u0131n 5 maddeli eylem plan\u0131n\u0131n\u00a0bacaklar\u0131 aras\u0131nda say\u0131lan ; Zorunlu Kar\u015f\u0131l\u0131k Politikas\u0131 ,Fiyat \u0130stikrar\u0131, Faiz\u00a0Politikas\u0131, D\u00f6viz Rezerv Politikas\u0131 ile Finansal \u0130stikrar\u2019dan olu\u015fan 5\u00a0maddeli eylem plan\u0131 TL\u2019nin g\u00fc\u00e7lenme hedefine ilave olarak\u00a0enflasyonun y\u00fckselmesinin \u00f6n\u00fcne set \u00e7ekece\u011fine inan\u0131larak haz\u0131rlanm\u0131\u015f.<\/p>\n

S\u0131k\u0131 para politikas\u0131na ge\u00e7i\u015f<\/strong><\/p>\n

Faizler para politikas\u0131 a\u00e7\u0131s\u0131ndan ekonomilerin hep emniyet subab\u0131\u00a0olarak g\u00f6rev yapm\u0131\u015f\u0131d\u0131r. 2003-2010 aras\u0131 Politika enstr\u00fcman\u0131 olarak\u00a0gecelik bor\u00e7lanma faizini baz almas\u0131na hayli al\u0131\u015fan piyasa, Kas\u0131m\u00a02010\u2019da ortalama y\u00fczde %5 olan munzam kar\u015f\u0131l\u0131klar\u0131n y\u00fczde 16 lara\u00a0var\u0131ncaya dek s\u00fcren ser\u00fcvenini \u00e7o\u011fu kez ele\u015ftirsede, MB bu seslere\u00a0adeta kulak t\u0131kam\u0131\u015f ve Radikalli\u011fini g\u00f6sterip do\u011fru bildi\u011fi yoldan\u00a0\u015fa\u015fmam\u0131\u015ft\u0131. TCMB\u2019nin Kas\u0131m 2010\u2019dan bu yana s\u00fcrd\u00fcrd\u00fc\u011f\u00fc munzam\u00a0kar\u015f\u0131l\u0131k oranlar\u0131 silah\u0131 ,TL \u00fczerinde s\u0131k\u0131la\u015ft\u0131r\u0131c\u0131 para politikas\u0131na ge\u00e7i\u015fin ilk\u00a0ad\u0131mlar\u0131yd\u0131. Art\u0131k MB gecelik bor\u00e7lanma faizi yerine ayl\u0131k fon faizini\u00a0g\u00f6zetir oldu. TCMB\u2019nin TL\u2019deki zorunlu kar\u015f\u0131l\u0131k oranlar\u0131n\u0131n azalt\u0131lmas\u0131\u00a0sonucu piyasaya girmesi beklenen yakla\u015f\u0131k 11 milyar TL\u2019nin likitide etkisi\u00a0ortalama y\u00fczde 12 seviyesinde seyreden ortalama zorunlu kar\u015f\u0131l\u0131k\u00a0oranlar\u0131n\u0131n y\u00fczde 10.5 seviyesinde gerilemesine neden olacak ve bu\u00a0fazla likitide bankalar\u0131n TCMB\u2019ye olan ba\u011f\u0131ml\u0131l\u0131\u011f\u0131n\u0131 azaltt\u0131\u011f\u0131 i\u00e7in, gecelik\u00a0repo oranlar\u0131ndaki hareketlili\u011fi istikrara kavu\u015fturacak.<\/p>\n

Yine son d\u00f6nemde TL \u00fczerinde ya\u015fanan spek\u00fclatif hareketlere, piyasaya d\u00f6viz satarak kar\u015f\u0131l\u0131k veren MB\u2019nin azalan d\u00f6viz rezervlerini\u00a0artt\u0131racak karar\u0131 ile, TL y\u00fck\u00fcml\u00fcl\u00fckler \u00e7er\u00e7evesinde zorunlu kar\u015f\u0131l\u0131klar\u0131n\u00a0yabanc\u0131 para olarak tutulabilecek k\u0131sm\u0131ndaki \u00fcst s\u0131n\u0131r\u0131n y\u00fczde 20\u2019den\u00a0y\u00fczde 40\u2019lara y\u00fckseltilmi\u015f olmas\u0131, karar\u0131n\u0131n bu sat\u0131\u015flardan eriyen\u00a0rezervleri ortalama 5 milyar dolar arttr\u0131mas\u0131 hedefleniyor.<\/p>\n

MB ne yapmak istedi?<\/strong><\/p>\n

Merkez Bankas\u0131n\u0131n 2010 Kas\u0131m\u2019da ilk kez dillendirdi\u011fi bu \u2018\u2019Riskli Deney\u2019\u2019\u00a0fikri, temelde cari a\u00e7\u0131\u011f\u0131n d\u00fc\u015f\u00fcr\u00fclmesi \u00fczerine kuruluydu. Ge\u00e7en 11 ayl\u0131k\u00a0zaman zarf\u0131nda cari a\u00e7\u0131\u011f\u0131n d\u00fc\u015f\u00fcr\u00fclmesi ba\u015far\u0131lamasa da ekonominin\u00a0carklar\u0131 hareketli kald\u0131. Ama bu zoraki hareket bu kez MB\u2019s\u0131na enflasyon\u00a0olarak geri d\u00f6nd\u00fc. Art\u0131k ortada bir ger\u00e7ek var ve bu deney ile tekrar\u00a0deney sonucunu piyasa g\u00f6zlemleyebiliyor. \u2018\u2019Faiz silah\u0131 ,cari a\u00e7\u0131\u011f\u0131\u00a0d\u00fc\u015f\u00fcrmek i\u00e7in yeterli bir silah de\u011filmi\u015f\u2019\u2019. \u00c7\u00fcnk\u00fc cari a\u00e7\u0131k T\u00fcrkiye\u2019de\u00a0ba\u015fta Enerji ve Ara mallar\u0131 odakl\u0131 b\u00fcy\u00fcyor. 31 Ekim D\u00fcnya Tasarruf\u00a0G\u00fcn\u00fc. Tasarrufda ama\u00e7 insanlar\u0131n geleceklerini g\u00fcvenceye almak\u00a0istekleridir. Belki tasarruf e\u011filiminin azalmas\u0131 halk\u0131n \u00fclkeye g\u00fcvenin\u00a0artmas\u0131 \u015feklinde de\u011ferlendirilebilir ama artan t\u00fcketim ve s\u00fcrekli d\u00fc\u015fen\u00a0Tasarruf e\u011filiminde trend de\u011fi\u015fmedik\u00e7e cari a\u00e7\u0131\u011f\u0131n d\u00fc\u015fmesi zor.Keza\u00a0son ara\u015ft\u0131rmalara g\u00f6re T\u00fcrkiye\u2019de her iki ki\u015fiden biri, kazand\u0131\u011f\u0131ndan\u00a0fazlas\u0131n\u0131 harc\u0131yor.<\/strong><\/p>\n

\u201cRadikal olmak sorunun k\u00f6kenine inmektir\u2019\u2019 – Karl Marx ,1867<\/strong><\/p>\n

\u00d6mer DEM\u0130R<\/strong><\/p>\n\n","protected":false},"excerpt":{"rendered":"

NationalTurk yorumcular\u0131m\u0131zdan Ekonomi ve Borsa uzman\u0131 \u00d6mer Demir \u2018in, bu haftaki \u201c MB ,Ne Kadar Radikal? \u201d adl\u0131 makalesini sizlerle payla\u015f\u0131yoruz.<\/p>\n","protected":false},"author":9192212,"featured_media":187026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6199],"tags":[195946,84146,84150,84148,10463,195988,40951,7357],"class_list":["post-86832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomi","tag-ekonomi","tag-enflasyon-raporu","tag-karl-marx","tag-mb","tag-merkez-bankasi","tag-omer-demir","tag-tcmb","tag-turkiye-ekonomi"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.nationalturk.com\/tr\/wp-json\/wp\/v2\/posts\/86832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationalturk.com\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationalturk.com\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/tr\/wp-json\/wp\/v2\/users\/9192212"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/tr\/wp-json\/wp\/v2\/comments?post=86832"}],"version-history":[{"count":0,"href":"https:\/\/www.nationalturk.com\/tr\/wp-json\/wp\/v2\/posts\/86832\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/tr\/wp-json\/wp\/v2\/media\/187026"}],"wp:attachment":[{"href":"https:\/\/www.nationalturk.com\/tr\/wp-json\/wp\/v2\/media?parent=86832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationalturk.com\/tr\/wp-json\/wp\/v2\/categories?post=86832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationalturk.com\/tr\/wp-json\/wp\/v2\/tags?post=86832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}