{"id":30450,"date":"2026-03-16T21:04:56","date_gmt":"2026-03-16T21:04:56","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/rabobanktan-jane-foley-dusuk-enflasyon-ve-sifir-faiz-ortaminda-isvicre-franginin-guvenli-liman-cazibesi-snbyi-endiselendiriyor\/"},"modified":"2026-03-16T21:04:56","modified_gmt":"2026-03-16T21:04:56","slug":"rabobanktan-jane-foley-dusuk-enflasyon-ve-sifir-faiz-ortaminda-isvicre-franginin-guvenli-liman-cazibesi-snbyi-endiselendiriyor","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/rabobanktan-jane-foley-dusuk-enflasyon-ve-sifir-faiz-ortaminda-isvicre-franginin-guvenli-liman-cazibesi-snbyi-endiselendiriyor\/","title":{"rendered":"Rabobank\u2019tan Jane Foley: D\u00fc\u015f\u00fck enflasyon ve s\u0131f\u0131r faiz ortam\u0131nda \u0130svi\u00e7re frang\u0131n\u0131n g\u00fcvenli liman cazibesi SNB\u2019yi endi\u015felendiriyor"},"content":{"rendered":"\u0130svi\u00e7re frang\u0131, kabul edilebilir likidite (kolay al\u0131n\u0131p sat\u0131labilme), g\u00fc\u00e7l\u00fc b\u00fct\u00e7e dengesi, cari fazla (\u00fclkenin d\u00f6viz kazanc\u0131n\u0131n harcamadan fazla olmas\u0131) ve yerle\u015fik kurumlar gibi bir\u00e7ok \u201cg\u00fcvenli liman\u201d \u00f6zelli\u011fini ta\u015f\u0131yor. Ancak frang\u0131n g\u00fcc\u00fc, s\u0131k s\u0131k \u0130svi\u00e7re Merkez Bankas\u0131 (SNB) i\u00e7in sorun yaratt\u0131.\n\n\u0130svi\u00e7re\u2019de T\u00dcFE (t\u00fcketici fiyat endeksi) enflasyonu y\u0131ll\u0131k %0,1 olurken, AB ile uyumlu (EU-harmonised) oran y\u0131ll\u0131k %0,5 seviyesinde ger\u00e7ekle\u015fti. Politika faizi s\u0131f\u0131rdayken SNB\u2019nin faiz indirme alan\u0131 s\u0131n\u0131rl\u0131; banka, gerekirse negatif faizin (faizin s\u0131f\u0131r\u0131n alt\u0131na indirilmesi) h\u00e2l\u00e2 m\u00fcmk\u00fcn oldu\u011funu belirtti.\n\nD\u00f6viz m\u00fcdahalesi (merkez bankas\u0131n\u0131n kur \u00fczerinde etki i\u00e7in piyasadan d\u00f6viz al\u0131p satmas\u0131) bir di\u011fer se\u00e7enek. Ancak bu ara\u00e7 risk ta\u015f\u0131r ve her zaman hedeflendi\u011fi gibi sonu\u00e7 vermeyebilir. ABD\u2019nin denetimi de SNB\u2019nin ne kadar ileri gidebilece\u011fini s\u0131n\u0131rland\u0131r\u0131yor.\n\nABD-\u0130svi\u00e7re ticaret g\u00f6r\u00fc\u015fmelerinde ABD Ba\u015fkan\u0131 Trump, kar\u015f\u0131l\u0131kl\u0131 g\u00fcmr\u00fck tarifelerinin (ithalata uygulanan vergi) %39 olaca\u011f\u0131n\u0131 duyurmu\u015f, oran daha sonra kas\u0131m ay\u0131nda %15\u2019e indirilmi\u015fti. \u0130svi\u00e7re, ABD Hazine\u2019sinin kur politikalar\u0131 \u201c\u0130zleme Listesi\u201dnde yer al\u0131yor ve bu stat\u00fc y\u0131l\u0131n ba\u015f\u0131nda yenilendi.\n\nEyl\u00fcl ay\u0131nda ABD Hazine\u2019si ile \u0130svi\u00e7reli yetkililer, iki taraf\u0131n da rekabet\u00e7i ama\u00e7larla d\u00f6viz kurunu hedeflemedi\u011fini belirten ortak bir a\u00e7\u0131klama yay\u0131mlad\u0131. A\u00e7\u0131klamada ayr\u0131ca d\u00f6viz m\u00fcdahalesinin SNB i\u00e7in parasal ko\u015fullar\u0131 (kredi faizleri, finansman maliyetleri ve genel finansal \u015fartlar) ve fiyat istikrar\u0131n\u0131 destekleyen bir para politikas\u0131 arac\u0131 oldu\u011fu ifade edildi.\n\nSNB Ba\u015fkan Yard\u0131mc\u0131s\u0131 Martin, 4 Mart\u2019ta yapt\u0131\u011f\u0131 a\u00e7\u0131klamada, yak\u0131n d\u00f6nemdeki siyasi bir olay nedeniyle SNB\u2019nin m\u00fcdahaleye haz\u0131r olma d\u00fczeyinin artt\u0131\u011f\u0131n\u0131 s\u00f6yledi; 2 Mart\u2019ta da benzer bir de\u011ferlendirme yapm\u0131\u015ft\u0131.\n<p>\n\n<p><strong>Hemen i\u015flem yapmaya ba\u015flay\u0131n &#8211; Ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in <a href=\"https:\/\/www.vtmarkets.com\/tr\/trade-now\/\">buraya<\/a> t\u0131klay\u0131n <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>G\u00fcvenli liman \u0130svi\u00e7re frang\u0131 yine SNB\u2019yi s\u0131k\u0131\u015ft\u0131r\u0131yor: enflasyon dipte, faiz s\u0131f\u0131rda; negatif faiz ve d\u00f6viz m\u00fcdahalesi masada. Ancak ABD g\u00f6zetimi ve tarifeler hareket alan\u0131n\u0131 daralt\u0131yor.<\/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-30450","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\/30450","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=30450"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30450\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=30450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=30450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=30450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}