{"id":30657,"date":"2026-03-18T23:05:00","date_gmt":"2026-03-18T23:05:00","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/ingden-frantisek-taborsky-enerji-kaynakli-enflasyon-ve-faiz-artisi-beklentilerindeki-zayiflamaya-ragmen-risk-istahiyla-orta-ve-dogu-avrupa-para-birimleri-yukseldi\/"},"modified":"2026-03-18T23:05:00","modified_gmt":"2026-03-18T23:05:00","slug":"ingden-frantisek-taborsky-enerji-kaynakli-enflasyon-ve-faiz-artisi-beklentilerindeki-zayiflamaya-ragmen-risk-istahiyla-orta-ve-dogu-avrupa-para-birimleri-yukseldi","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/ingden-frantisek-taborsky-enerji-kaynakli-enflasyon-ve-faiz-artisi-beklentilerindeki-zayiflamaya-ragmen-risk-istahiyla-orta-ve-dogu-avrupa-para-birimleri-yukseldi\/","title":{"rendered":"ING\u2019den Frantisek Taborsky: Enerji kaynakl\u0131 enflasyon ve faiz art\u0131\u015f\u0131 beklentilerindeki zay\u0131flamaya ra\u011fmen, risk i\u015ftah\u0131yla Orta ve Do\u011fu Avrupa para birimleri y\u00fckseldi"},"content":{"rendered":"Orta ve Do\u011fu Avrupa para birimleri, petrol ve do\u011fal gaz fiyatlar\u0131 y\u00fcksek kalmas\u0131na ra\u011fmen son iki g\u00fcnde k\u00fcresel risk i\u015ftah\u0131n\u0131n artmas\u0131yla g\u00fc\u00e7lendi. Y\u00fcksek enerji fiyatlar\u0131, b\u00f6lgede ek enflasyona (fiyat art\u0131\u015flar\u0131n\u0131n h\u0131zlanmas\u0131na) i\u015faret etmeyi s\u00fcrd\u00fcr\u00fcyor.\n\nABD\u2013\u0130ran \u00e7at\u0131\u015fmas\u0131n\u0131n ba\u015flamas\u0131ndan bu yana piyasalar, b\u00f6lgede fiyatlad\u0131\u011f\u0131 politika faizi art\u0131\u015f\u0131 say\u0131s\u0131n\u0131 yakla\u015f\u0131k 2\u20133\u2019ten 1\u20132\u2019ye indirdi. \u0130\u015flem ko\u015fullar\u0131 dengelendi ve likidite (piyasada al\u0131m-sat\u0131m yapman\u0131n kolayl\u0131\u011f\u0131) artt\u0131.\n\n

Piyasa Riskleri ve K\u0131sa Vadeli Faiz G\u00f6r\u00fcn\u00fcm\u00fc<\/h3>\nEnerji fiyatlar\u0131 yeniden s\u0131\u00e7rarsa gerilim geri d\u00f6nebilir ve ge\u00e7en hafta g\u00f6r\u00fcld\u00fc\u011f\u00fc gibi yeni bir sat\u0131\u015f dalgas\u0131 ya\u015fanabilir. \u015eimdilik piyasa fiyatlamas\u0131, k\u0131sa vadede faiz art\u0131\u015f\u0131 olas\u0131l\u0131\u011f\u0131n\u0131n azald\u0131\u011f\u0131na i\u015faret ediyor.\n\n\u00c7ekya Merkez Bankas\u0131\u2019n\u0131n (CNB) toplant\u0131s\u0131 yar\u0131n, Macaristan Merkez Bankas\u0131\u2019n\u0131n (MNB) toplant\u0131s\u0131 ise gelecek hafta yap\u0131lacak. Her iki toplant\u0131da da faiz art\u0131\u015f\u0131 beklentilerine kar\u015f\u0131 mesaj verilmesi bekleniyor.\n\n

Faiz Oynakl\u0131\u011f\u0131 ve \u0130\u015flem Ko\u015fullar\u0131<\/h3>\nPiyasa, faiz art\u0131\u015f\u0131 beklentilerini azalt\u0131yor; bunu son veriler de destekliyor. \u00d6rne\u011fin \u00c7ekya\u2019da enflasyon \u015fubatta %2,8\u2019e gerileyerek merkez bankas\u0131n\u0131n hedefine daha da yakla\u015ft\u0131. Bu durum CNB\u2019ye ve b\u00f6lgedeki benzer kurumlara faizleri sabit tutma alan\u0131 veriyor; art\u0131\u015flar\u0131n g\u00fcndemden d\u00fc\u015ft\u00fc\u011f\u00fc g\u00f6r\u00fc\u015f\u00fcn\u00fc g\u00fc\u00e7lendiriyor.\n\nVIX (piyasa korkusunu \u00f6l\u00e7en g\u00f6sterge) 14,5 gibi sakin bir seviyede seyrederken, Orta ve Do\u011fu Avrupa para birimi opsiyonlar\u0131nda \u00f6rt\u00fck oynakl\u0131k (opsiyon fiyatlar\u0131ndan \u00e7\u0131kar\u0131lan beklenen dalgalanma) azald\u0131. Bu ortam, risk iyi y\u00f6netildi\u011fi s\u00fcrece opsiyon satarak prim (opsiyon sat\u0131c\u0131s\u0131n\u0131n ald\u0131\u011f\u0131 gelir) toplamay\u0131 destekleyebilir. Yat\u0131r\u0131mc\u0131lar, k\u0131sa vadede istikrarl\u0131 kur ve d\u00fc\u015f\u00fck faiz oynakl\u0131\u011f\u0131ndan faydalanan stratejileri de\u011ferlendirebilir.\n\nOlumlu hava, Euro B\u00f6lgesi\u2019ndeki toparlanmayla da destekleniyor; ZEW Ekonomik Duyarl\u0131l\u0131k Endeksi (beklentileri \u00f6l\u00e7en anket g\u00f6stergesi) son veride alt\u0131 ay\u0131n zirvesi olan 15,2\u2019ye \u00e7\u0131kt\u0131. Bu tablo, 2022\u2019de enerji fiyatlar\u0131ndaki sert y\u00fckseli\u015fe kar\u015f\u0131 merkez bankalar\u0131n\u0131n agresif faiz art\u0131rd\u0131\u011f\u0131 d\u00f6nemle keskin bir tezat olu\u015fturuyor. Piyasa \u015fu an enflasyon riskinin en k\u00f6t\u00fc k\u0131sm\u0131n\u0131n geride kald\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyor; bu da rahatlama rallisinin (bask\u0131 azal\u0131nca gelen y\u00fckseli\u015fin) s\u00fcrmesine alan a\u00e7\u0131yor.\n

\n\n

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":"

Risk i\u015ftah\u0131 artt\u0131, Orta-Do\u011fu Avrupa kurlar\u0131 enerji pahal\u0131yken bile g\u00fc\u00e7lendi! Piyasalar faiz art\u0131\u015f\u0131 beklentisini 2-3\u2019ten 1-2\u2019ye indirdi; VIX d\u00fc\u015f\u00fck, oynakl\u0131k gerilerken CNB\/MNB\u2019den \u201cfaiz sabit\u201d mesaj\u0131 bekleniyor.<\/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-30657","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\/30657","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=30657"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30657\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=30657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=30657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=30657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}