{"id":30097,"date":"2026-03-11T15:05:15","date_gmt":"2026-03-11T15:05:15","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/ocak-ayinda-brezilyanin-aylik-perakende-satislari-04-artti-ekonomistlerin-01-dusus-beklentisini-asti\/"},"modified":"2026-03-11T15:05:15","modified_gmt":"2026-03-11T15:05:15","slug":"ocak-ayinda-brezilyanin-aylik-perakende-satislari-04-artti-ekonomistlerin-01-dusus-beklentisini-asti","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/ocak-ayinda-brezilyanin-aylik-perakende-satislari-04-artti-ekonomistlerin-01-dusus-beklentisini-asti\/","title":{"rendered":"Ocak ay\u0131nda Brezilya\u2019n\u0131n ayl\u0131k perakende sat\u0131\u015flar\u0131 %0,4 artt\u0131; ekonomistlerin %0,1 d\u00fc\u015f\u00fc\u015f beklentisini a\u015ft\u0131"},"content":{"rendered":"Brezilya\u2019da perakende sat\u0131\u015flar ocak ay\u0131nda ayl\u0131k bazda %0,4 artt\u0131. Bu oran, -%0,1 olan beklentinin \u00fczerinde ger\u00e7ekle\u015fti.\n\nSonu\u00e7, perakende faaliyetinin \u00f6nceki aya g\u00f6re artt\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Veri, beklentiyi 0,5 y\u00fczde puan a\u015ft\u0131.\n\nOcak ay\u0131ndaki beklenmedik derecede g\u00fc\u00e7l\u00fc %0,4\u2019l\u00fck perakende sat\u0131\u015f art\u0131\u015f\u0131, t\u00fcketicinin dayan\u0131kl\u0131l\u0131\u011f\u0131n\u0131n (gelir ve faiz bask\u0131s\u0131na ra\u011fmen harcamay\u0131 s\u00fcrd\u00fcrebilme g\u00fcc\u00fc) hafife al\u0131nd\u0131\u011f\u0131na dair ilk i\u015faret oldu. Hafif bir daralma (k\u00fc\u00e7\u00fclme) beklentisine ra\u011fmen gelen bu veri, i\u00e7 ekonomide (yurt i\u00e7i talepte) altta yatan g\u00fcce i\u015faret ediyor. Bu nedenle piyasan\u0131n bu y\u0131l Brezilya\u2019n\u0131n b\u00fcy\u00fcme g\u00f6r\u00fcn\u00fcm\u00fcne fazla karamsar yakla\u015f\u0131p yakla\u015fmad\u0131\u011f\u0131 sorgulanmal\u0131.\n\nBu ivme s\u00fcrm\u00fc\u015f g\u00f6r\u00fcn\u00fcyor. Ge\u00e7en hafta a\u00e7\u0131klanan \u015fubat enflasyon verisinde hizmetler kalemi (kuaf\u00f6r, sa\u011fl\u0131k, e\u011fitim, restoran gibi hizmet fiyatlar\u0131) y\u0131ll\u0131k bazda %5,1\u2019e y\u00fckselerek belirgin bir art\u0131\u015f g\u00f6sterdi. Bu durum, merkez bankas\u0131n\u0131n \u201cdaha \u015fahin\u201d (enflasyonla m\u00fccadelede daha s\u0131k\u0131 duru\u015fa yak\u0131n, faiz indiriminde daha temkinli) davranaca\u011f\u0131 beklentisini g\u00fc\u00e7lendirdi. Bu beklenti, DI vadeli i\u015flemler e\u011frisine de yans\u0131d\u0131: DI vadeli e\u011fri (Brezilya\u2019da gelecekteki faiz beklentilerini g\u00f6steren g\u00f6sterge vadeli faiz s\u00f6zle\u015fmeleri) \u015fubat sonundan beri belirgin \u015fekilde yatayla\u015ft\u0131 (uzun vadeli faiz beklentileri ile k\u0131sa vadeli beklentiler aras\u0131ndaki fark azald\u0131). Piyasa art\u0131k 2026\u2019n\u0131n geri kalan\u0131 i\u00e7in yaln\u0131zca 50 baz puan (bp; y\u00fczde puan\u0131n y\u00fczde biri, 100 bp = 1 y\u00fczde puan) faiz indirimi fiyatl\u0131yor; y\u0131l ba\u015f\u0131nda bu beklenti 125 baz puand\u0131.\n\nBu tablo, 2025\u2019in \u00fc\u00e7\u00fcnc\u00fc \u00e7eyre\u011finde g\u00f6r\u00fclen ekonomik g\u00f6r\u00fcn\u00fcmle keskin bir tezat olu\u015fturuyor. O d\u00f6nemde art arda gelen zay\u0131f veriler, Brezilya varl\u0131klar\u0131nda (hisse, tahvil, kur gibi finansal ara\u00e7larda) sert sat\u0131\u015fa yol a\u00e7m\u0131\u015ft\u0131. \u0130\u015fsizlik %8,2\u2019ye y\u00fckselmi\u015f, t\u00fcketici g\u00fcveni (hanehalk\u0131n\u0131n ekonomiye dair beklentisini \u00f6l\u00e7en endeks) geriliyordu. Mevcut toparlanma, \u00f6nceki parasal gev\u015femenin (faiz indirimlerinin) sonunda reel ekonomiye (\u00fcretim, istihdam, t\u00fcketim gibi ger\u00e7ek faaliyetlere) yans\u0131maya ba\u015flad\u0131\u011f\u0131n\u0131 g\u00f6steriyor.\n

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Hemen i\u015flem yapmaya ba\u015flay\u0131n – Ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n <\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":"

S\u00fcrpriz veri! Brezilya\u2019da ocak perakende sat\u0131\u015flar\u0131 ayl\u0131k %0,4 artarak beklenti (-%0,1) \u00fcst\u00fcne \u00e7\u0131kt\u0131. \u015eubat hizmet enflasyonu %5,1\u2019e y\u00fckseldi; faiz indirimi beklentisi 125 bp\u2019den 50 bp\u2019ye indi.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-30097","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=30097"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30097\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=30097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=30097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=30097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}