{"id":30651,"date":"2026-03-18T21:03:06","date_gmt":"2026-03-18T21:03:06","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/rusyanin-yillik-uretici-fiyatlari-subat-ayindaki-yillik-5ten-52ye-gerileyerek-dususunu-surdurdu\/"},"modified":"2026-03-18T21:03:06","modified_gmt":"2026-03-18T21:03:06","slug":"rusyanin-yillik-uretici-fiyatlari-subat-ayindaki-yillik-5ten-52ye-gerileyerek-dususunu-surdurdu","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/rusyanin-yillik-uretici-fiyatlari-subat-ayindaki-yillik-5ten-52ye-gerileyerek-dususunu-surdurdu\/","title":{"rendered":"Rusya\u2019n\u0131n y\u0131ll\u0131k \u00fcretici fiyatlar\u0131 \u015eubat ay\u0131ndaki y\u0131ll\u0131k %-5\u2019ten %-5,2\u2019ye gerileyerek d\u00fc\u015f\u00fc\u015f\u00fcn\u00fc s\u00fcrd\u00fcrd\u00fc"},"content":{"rendered":"Rusya\u2019n\u0131n \u00dcretici Fiyat Endeksi (\u00dcFE, y\u0131ll\u0131k) \u015eubat\u2019ta %-5,2\u2019ye geriledi. Bir \u00f6nceki veri %-5,0 seviyesindeydi.\n\nSon veri, y\u0131ll\u0131k bazda \u00f6nceki d\u00f6neme g\u00f6re biraz daha y\u00fcksek bir d\u00fc\u015f\u00fc\u015fe i\u015faret ediyor. %-5,0\u2019dan %-5,2\u2019ye ge\u00e7i\u015f, 0,2 puanl\u0131k d\u00fc\u015f\u00fc\u015f demek.\n\nRusya\u2019da \u00fcretici fiyatlar\u0131ndaki d\u00fc\u015f\u00fc\u015f\u00fcn s\u00fcrmesi ve %-5,2\u2019ye h\u0131zlanmas\u0131, ekonomide **deflasyon** (genel fiyatlar\u0131n d\u00fc\u015fmesi) bask\u0131s\u0131n\u0131n artt\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Bu tablo, i\u00e7 talebin zay\u0131f oldu\u011funa ve \u015firketlerin \u00fcr\u00fcnlerine zam yapacak g\u00fcc\u00fc bulamad\u0131\u011f\u0131na i\u015faret ediyor. Bunu, ekonomiyi canland\u0131rmak i\u00e7in Rusya Merkez Bankas\u0131\u2019n\u0131n **para politikas\u0131n\u0131 gev\u015fetmesi** (faiz indirimi gibi ad\u0131mlarla finansman\u0131 ucuzlatmas\u0131) y\u00f6n\u00fcnde bask\u0131n\u0131n artaca\u011f\u0131na dair g\u00fc\u00e7l\u00fc bir sinyal olarak g\u00f6r\u00fcyoruz.\n\nBu da \u00f6n\u00fcm\u00fczdeki haftalarda daha zay\u0131f bir ruble beklentimizi destekliyor. 2025\u2019in sonlar\u0131ndan beri politika faizini %8,0\u2019da tutan Rusya Merkez Bankas\u0131 i\u00e7in art\u0131k faiz indirimi se\u00e7ene\u011fini de\u011ferlendirmek ad\u0131na daha net bir gerek\u00e7e olu\u015ftu. Ge\u00e7en \u00e7eyrekte ortalama 91 seviyesinden 94\u2019e y\u00fckselen **USD\/RUB** (ABD dolar\u0131\/ruble kuru) paritesinin daha y\u00fcksek seviyeleri test etmesini bekliyoruz; bu nedenle paritede **al\u0131m opsiyonlar\u0131 (call option)** (belirli bir tarihe kadar belirli fiyattan alma hakk\u0131 veren s\u00f6zle\u015fme) daha cazip g\u00f6r\u00fcn\u00fcyor.\n\nSonu\u00e7 olarak, Rusya\u2019da daha d\u00fc\u015f\u00fck faizlere g\u00f6re pozisyon almak gerekir. **10 y\u0131ll\u0131k Rusya devlet tahvili (OFZ)** getirileri y\u0131l ba\u015f\u0131ndan bu yana 30 **baz puan** (faiz oran\u0131nda %0,01\u2019lik de\u011fi\u015fim) geriledi; bu deflasyon verisi bu e\u011filimi h\u0131zland\u0131rabilir. Merkez bankas\u0131n\u0131n y\u00f6n de\u011fi\u015ftirmesi beklentisini i\u015flemeye do\u011frudan bir yol, **faiz vadeli i\u015flemlerinde (interest rate futures)** (faiz oran\u0131na dayal\u0131 ileri tarihli s\u00f6zle\u015fmeler) uzun pozisyon almakt\u0131r.\n\nHisse senetlerinde g\u00f6r\u00fcn\u00fcm kar\u0131\u015f\u0131k, ancak negatif tarafa daha yak\u0131n. Daha ucuz bor\u00e7lanma normalde hisseler i\u00e7in olumlu olsa da \u00dcFE\u2019nin i\u015faret etti\u011fi ekonomik zay\u0131fl\u0131k, \u015firket k\u00e2rlar\u0131n\u0131n zay\u0131flayabilece\u011fini d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor. Benzer zay\u0131f sanayi verilerinin ard\u0131ndan 2025\u2019in 4. \u00e7eyre\u011finde **MOEX endeksinin** %5 d\u00fc\u015ft\u00fc\u011f\u00fcn\u00fc g\u00f6rm\u00fc\u015ft\u00fck; bu nedenle **sat\u0131m opsiyonlar\u0131 (put option)** (belirli bir tarihe kadar belirli fiyattan satma hakk\u0131 veren s\u00f6zle\u015fme) almak, iyi bir **korunma (hedge)** (zarar riskini azaltma) arac\u0131 olabilir.\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>Alarm zilleri \u00e7al\u0131yor: Rusya \u00dcFE \u015eubat\u2019ta %-5,2\u2019ye inerek deflasyon bask\u0131s\u0131n\u0131 art\u0131rd\u0131. Zay\u0131f talep faiz indirimi beklentisini g\u00fc\u00e7lendiriyor; rublede de\u011fer kayb\u0131, USD\/RUB\u2019da yukar\u0131, tahvilde d\u00fc\u015fen getiri \u00f6ne \u00e7\u0131k\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-30651","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\/30651","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=30651"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30651\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=30651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=30651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=30651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}