{"id":2539,"date":"2017-12-13T06:59:15","date_gmt":"2017-12-13T06:59:15","guid":{"rendered":"https:\/\/www.investaz.com.tr\/blog\/?p=2539"},"modified":"2022-09-12T14:42:23","modified_gmt":"2022-09-12T14:42:23","slug":"merkez-bankasi-faiz-artirirsa-ne-olur-piyasayi-nasil-etkiler","status":"publish","type":"post","link":"https:\/\/www.investaz.com.tr\/blog\/merkez-bankasi-faiz-artirirsa-ne-olur-piyasayi-nasil-etkiler\/","title":{"rendered":"Merkez Bankas\u0131 Faiz Art\u0131r\u0131rsa Ne Olur?"},"content":{"rendered":"

Faiz art\u0131r\u0131mlar\u0131n\u0131n alt\u0131nda yatan en b\u00fcy\u00fck sebeplerden birisi \u00f6demeler dengesinde a\u00e7\u0131k veren \u00fclkelerin d\u0131\u015far\u0131ndan s\u0131cak para giri\u015fini sa\u011flay\u0131p i\u00e7 piyasay\u0131 rahatlanmak olarak g\u00f6r\u00fcl\u00fcrken bunun yan\u0131nda bir ba\u015fka b\u00fcy\u00fck etkisi ise T\u00fcrk Liras\u0131n\u0131n de\u011ferlenmesi anlam\u0131na gelir. T\u00fcrk Liras\u0131 de\u011ferlendik\u00e7e kur y\u00fckseli\u015finden kaynakl\u0131 maliyet enflasyonunun \u00f6n\u00fcne ge\u00e7ilmi\u015f olur. Sadece maliyet enflasyonu de\u011fil talep enflasyonunu da engellemi\u015f olmas\u0131 beklenir. Faiz art\u0131r\u0131mlar\u0131n\u0131n olumlu etkileri varken olumsuz etkileri de olduk\u00e7a y\u00fcksek oldu\u011fu d\u00fc\u015f\u00fclmektedir. Yat\u0131r\u0131mlar\u0131 d\u00fc\u015f\u00fcrmesi en b\u00fcy\u00fck olumsuzluk olarak g\u00f6r\u00fcl\u00fcrken enflasyonu d\u00fc\u015f\u00fcrmesi olumlu etkisi olarak olarak g\u00f6r\u00fclebilir. Faiz art\u0131r\u0131ld\u0131\u011f\u0131 zaman t\u00fcketimler azal\u0131rken tasarruflarda art\u0131\u015f beklenir, kayna\u011f\u0131n artmas\u0131yla yat\u0131r\u0131mlar i\u00e7in kaynak bulmak olduk\u00e7a kolayla\u015f\u0131r, t\u00fcketimlerde d\u00fc\u015f\u00fc\u015f ile birlikte enflasyonda gerileme g\u00f6r\u00fcl\u00fcrken olumsuz s\u0131ralamas\u0131 ise faizlerin artmas\u0131yla yat\u0131r\u0131m maliyeti artm\u0131\u015f olur, maliyet artt\u0131\u011f\u0131 i\u00e7in yat\u0131r\u0131mlar\u0131 engeller, istihdam d\u00fc\u015ferken b\u00fcy\u00fcmede ayn\u0131 \u015fekilde d\u00fc\u015fmesi beklenir.Birbirine zincirleme \u00e7ok fazla etkisinin olmas\u0131ndan kaynakl\u0131 en \u00f6nemli konular\u0131ndan k\u0131saca bahsetmekte fayda var.<\/p>\n

Enflasyon<\/h2>\n

Enflasyonun y\u00fckseli\u015fini durdurma etkisi beklenir. Enflasyonu, faizlerin artmas\u0131 ile birlikte piyasada talep azal\u0131r, harcama e\u011filimi d\u00fc\u015fmeye ba\u015flar.Bunun nedeni bankalar\u0131n TCMB taraf\u0131ndan para talep etti\u011fi zaman y\u00fcksek faiz uygulamas\u0131na sebep olurken bankada daha fazla para toplamak i\u00e7in daha y\u00fcksek faiz uygulayarak m\u00fc\u015fterilerinin para yat\u0131rmas\u0131n\u0131 sa\u011flamas\u0131ndan kaynakl\u0131 piyasada risksiz faize para yat\u0131r\u0131l\u0131p harcama e\u011filiminden vazge\u00e7ilmesini sa\u011flay\u0131p, enflasyonda talebin \u00f6n\u00fc kesilmi\u015f olur. Bu etkiyle birlikte TL\u2019nin de\u011feri artar ki az olan TL de\u011ferlenip yurt d\u0131\u015f\u0131ndan gelen paran\u0131n risksiz faiz i\u00e7in TL taraf\u0131nda kalmak daha avantajl\u0131 hale gelmi\u015f olacakt\u0131r.<\/p>\n

\u0130\u015fsizlik<\/h2>\n

Faiz art\u0131r\u0131m\u0131nda istihdam piyasas\u0131na etkisi ise olumsuz olarak yans\u0131ma ihtimali y\u00fcksek olarak g\u00f6r\u00fclebilir. \u00c7\u00fcnk\u00fc faizlerin artmas\u0131 demek yat\u0131r\u0131mlar\u0131n durmas\u0131 anlam\u0131na gelebilece\u011fi i\u00e7in risksiz yat\u0131r\u0131m varken risk al\u0131p i\u015f yeri a\u00e7mak yat\u0131r\u0131mc\u0131 i\u00e7in zor gelebilir, haz\u0131r y\u00fcksek faizden yararlanmak daha avantajl\u0131 gelmesinden kaynakl\u0131 i\u015fsizli\u011fi art\u0131rabilecek etken olarak g\u00f6r\u00fclebilir. Faizlerin d\u00fc\u015fmesi ise tam tersi y\u00f6nde etki yaparak piyasadan haz\u0131r faizden kazanamayan yat\u0131r\u0131mc\u0131y\u0131 do\u011frudan yat\u0131r\u0131m yapmaya te\u015fvik edece\u011fi i\u00e7in i\u015fsizli\u011fi azaltan etken olarak g\u00f6r\u00fclebilir.<\/p>\n

B\u00fcy\u00fcme<\/h2>\n

Faiz art\u0131r\u0131m\u0131 yat\u0131r\u0131mlar\u0131 d\u00fc\u015f\u00fcrmesinden kaynakl\u0131 b\u00fcy\u00fcme a\u00e7\u0131s\u0131ndan olumsuz olarak g\u00f6r\u00fcl\u00fcr. S\u0131k\u0131 para politikas\u0131 uygulanmas\u0131 anlam\u0131na gelen faiz art\u0131r\u0131m\u0131 d\u00fc\u015f\u00fck maliyetli para bulup yat\u0131r\u0131m yapacak olan yat\u0131r\u0131mc\u0131y\u0131 y\u00fcksek maliyetlerden dolay\u0131 vazge\u00e7mesini sa\u011flar. Bu etkide yat\u0131r\u0131mlar\u0131n \u00f6n\u00fcnde engel olmas\u0131ndan kaynakl\u0131 faiz art\u0131r\u0131m\u0131n\u0131n b\u00fcy\u00fcme a\u00e7\u0131s\u0131ndan olumsuz olarak g\u00f6r\u00fclmesini sa\u011flayabilir.<\/p>\n\n\n

Faiz Koridoru Nedir?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Faiz art\u0131r\u0131mlar\u0131n\u0131n alt\u0131nda yatan en b\u00fcy\u00fck sebeplerden birisi \u00f6demeler dengesinde a\u00e7\u0131k veren \u00fclkelerin d\u0131\u015far\u0131ndan s\u0131cak para giri\u015fini sa\u011flay\u0131p i\u00e7 piyasay\u0131 rahatlanmak olarak g\u00f6r\u00fcl\u00fcrken bunun yan\u0131nda bir ba\u015fka b\u00fcy\u00fck etkisi ise T\u00fcrk Liras\u0131n\u0131n de\u011ferlenmesi anlam\u0131na gelir. T\u00fcrk Liras\u0131 de\u011ferlendik\u00e7e kur y\u00fckseli\u015finden kaynakl\u0131 maliyet enflasyonunun \u00f6n\u00fcne ge\u00e7ilmi\u015f olur. Sadece maliyet enflasyonu de\u011fil talep enflasyonunu da engellemi\u015f olmas\u0131…<\/p>\n","protected":false},"author":1,"featured_media":2541,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-2539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-makaleler"],"_links":{"self":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts\/2539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/comments?post=2539"}],"version-history":[{"count":3,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts\/2539\/revisions"}],"predecessor-version":[{"id":4013,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts\/2539\/revisions\/4013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/media\/2541"}],"wp:attachment":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/media?parent=2539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/categories?post=2539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/tags?post=2539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}