{"id":30691,"date":"2026-03-19T06:06:48","date_gmt":"2026-03-19T06:06:48","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/boj-faizleri-075te-sabit-tutuyor-yen-uzerindeki-baski-surerken-dolarin-genel-capta-zayiflamasiyla-usd-jpy-geriliyor\/"},"modified":"2026-03-19T06:06:48","modified_gmt":"2026-03-19T06:06:48","slug":"boj-faizleri-075te-sabit-tutuyor-yen-uzerindeki-baski-surerken-dolarin-genel-capta-zayiflamasiyla-usd-jpy-geriliyor","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/boj-faizleri-075te-sabit-tutuyor-yen-uzerindeki-baski-surerken-dolarin-genel-capta-zayiflamasiyla-usd-jpy-geriliyor\/","title":{"rendered":"BoJ faizleri %0,75\u2019te sabit tutuyor, Yen \u00fczerindeki bask\u0131 s\u00fcrerken Dolar\u2019\u0131n genel \u00e7apta zay\u0131flamas\u0131yla USD\/JPY geriliyor"},"content":{"rendered":"Japon Yeni, Japonya Merkez Bankas\u0131\u2019n\u0131n (BoJ) politika faizini %0,75\u2019te b\u0131rakmas\u0131n\u0131n ard\u0131ndan ABD Dolar\u0131 kar\u015f\u0131s\u0131nda geriledi. Buna ra\u011fmen, ABD dolar\u0131n\u0131n di\u011fer para birimleri kar\u015f\u0131s\u0131nda zay\u0131flamas\u0131yla USD\/JPY paritesi %0,14 d\u00fc\u015f\u00fc\u015fle 159,70 civar\u0131nda i\u015flem g\u00f6rd\u00fc.\n\nKarar beklentilerle uyumlu geldi. ABD, \u0130srail ve \u0130ran\u2019\u0131 i\u00e7eren \u00e7at\u0131\u015fmalarla ba\u011flant\u0131l\u0131 y\u00fckselen petrol fiyatlar\u0131, Japonya\u2019n\u0131n ekonomik g\u00f6r\u00fcn\u00fcm\u00fcne ili\u015fkin kayg\u0131lar\u0131 art\u0131rd\u0131. Bu, BoJ\u2019un faizleri de\u011fi\u015ftirmeden ge\u00e7ti\u011fi \u00fcst \u00fcste ikinci toplant\u0131 oldu.\n\nPiyasalar\u0131n oda\u011f\u0131, ek sinyaller i\u00e7in BoJ Ba\u015fkan\u0131 Kazuo Ueda\u2019n\u0131n bas\u0131n toplant\u0131s\u0131na \u00e7evrildi. Ueda Sal\u0131 g\u00fcn\u00fc fiyatlar ve \u00fccretlerin artmay\u0131 s\u00fcrd\u00fcrmesi gerekti\u011fini, \u201ctemel enflasyonun\u201d (enerji ve g\u0131da gibi oynak kalemlerin etkisi azalt\u0131larak hesaplanan, kal\u0131c\u0131 e\u011filimi g\u00f6steren enflasyon) 2026 mali y\u0131l\u0131n\u0131n ikinci yar\u0131s\u0131ndan 2027 mali y\u0131l\u0131na do\u011fru %2 hedefine yakla\u015fmas\u0131n\u0131n beklendi\u011fini s\u00f6yledi.\n\nABD dolar\u0131, \u00c7ar\u015famba g\u00fcn\u00fc ABD Merkez Bankas\u0131 (Fed) karar\u0131n\u0131n ard\u0131ndan y\u00fckseldikten sonra geri \u00e7ekildi. Fed faizi %3,50\u2013%3,75 aral\u0131\u011f\u0131nda sabit tuttu ve para politikas\u0131nda de\u011fi\u015fiklik i\u00e7in enflasyonun (genel fiyat art\u0131\u015f h\u0131z\u0131) yava\u015flad\u0131\u011f\u0131na dair sinyallerin belirleyici olaca\u011f\u0131n\u0131 belirtti.\n\nBoJ\u2019un temel g\u00f6revi fiyat istikrar\u0131 ve enflasyon hedefi yakla\u015f\u0131k %2. Banka 2013\u2019ten itibaren geni\u015f \u00f6l\u00e7ekli parasal geni\u015fleme (piyasaya yo\u011fun para vererek finansal ko\u015fullar\u0131 gev\u015fetme) uygulad\u0131; 2016\u2019da negatif faiz (mevduata eksi faiz) ve getiri e\u011frisi kontrol\u00fc (tahvil faizlerini belirli seviyelerde tutmaya y\u00f6nelik politika) ad\u0131mlar\u0131n\u0131 ekledi; Mart 2024\u2019te faiz art\u0131rd\u0131. Ge\u00e7mi\u015fte BoJ ile di\u011fer merkez bankalar\u0131 aras\u0131ndaki politika farklar\u0131, 2022 ve 2023\u2019te yen \u00fczerinde bask\u0131 yaratm\u0131\u015ft\u0131.\n\nBoJ faizi %0,75\u2019te tutarken ABD\u2019deki %3,50\u2013%3,75 seviyesine g\u00f6re b\u00fcy\u00fck faiz fark\u0131, ana belirleyici olmaya devam ediyor. Bu y\u00fcksek fark, yat\u0131r\u0131mc\u0131lar i\u00e7in \u201cyen bor\u00e7lan\u0131p dolar alma\u201d \u015feklindeki ta\u015f\u0131ma i\u015flemini (d\u00fc\u015f\u00fck faizli para biriminden bor\u00e7lan\u0131p y\u00fcksek faizli para birimine ge\u00e7erek faiz fark\u0131ndan getiri arama) cazip k\u0131l\u0131yor. Bu nedenle yen \u00fczerindeki bask\u0131n\u0131n k\u0131sa vadede s\u00fcrmesi olas\u0131.\n\nUSD\/JPY\u2019nin 159,70 civar\u0131nda i\u015flem g\u00f6rmesi, 2024\u2019te Japon yetkililerin s\u00f6zl\u00fc y\u00f6nlendirme (kur hareketlerine kar\u015f\u0131 a\u00e7\u0131klamalarla etki yaratma) ve do\u011frudan m\u00fcdahale (piyasadan al\u0131m-sat\u0131mla kura m\u00fcdahale) e\u015fi\u011fi olarak \u00f6ne \u00e7\u0131kan seviyelere yak\u0131nl\u0131\u011f\u0131 nedeniyle dikkat \u00e7ekiyor. Japonya\u2019n\u0131n \u015eubat 2026 \u201culusal \u00e7ekirdek enflasyonu\u201d (genellikle taze g\u0131da hari\u00e7 hesaplanan, daha kal\u0131c\u0131 enflasyon g\u00f6stergesi) %2,7 ile %2 hedefinin belirgin \u00fczerinde geldi. Bu tablo, ithalat kaynakl\u0131 fiyat art\u0131\u015flar\u0131n\u0131 s\u0131n\u0131rlamak i\u00e7in h\u00fck\u00fcmetin devreye girme ihtimalini g\u00fc\u00e7lendirebilir. Parite 160 seviyesinin \u00fczerine kal\u0131c\u0131 \u015fekilde \u00e7\u0131karsa sert ve ani bir geri d\u00f6n\u00fc\u015f riski artaca\u011f\u0131ndan yat\u0131r\u0131mc\u0131lar\u0131n temkinli olmas\u0131 gerekir.\n\nMevcut durumda BoJ, d\u0131\u015f kaynakl\u0131 jeopolitik riskler nedeniyle beklemede kal\u0131rken ileride faiz art\u0131\u015f\u0131na kap\u0131y\u0131 a\u00e7\u0131k tutuyor; bu da belirsizli\u011fi y\u00fckseltiyor. B\u00f6yle bir ortam, risk y\u00f6netimi a\u00e7\u0131s\u0131ndan opsiyonlar\u0131 (belirli bir fiyattan alma\/satma hakk\u0131 veren s\u00f6zle\u015fmeler) daha kullan\u0131\u015fl\u0131 hale getirir ve oynakl\u0131kta (fiyatlar\u0131n h\u0131zla dalgalanmas\u0131) art\u0131\u015f ihtimaline kar\u015f\u0131 konumlanmay\u0131 kolayla\u015ft\u0131r\u0131r. \u201cStraddle\u201d gibi stratejiler (ayn\u0131 vade ve kullan\u0131m fiyat\u0131nda hem al\u0131m hem sat\u0131m opsiyonu alarak, y\u00f6n tahmini yapmadan iki y\u00f6ne de b\u00fcy\u00fck hareketten faydalanma) bu \u00e7er\u00e7evede \u00f6ne \u00e7\u0131kabilir.\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>BoJ faizi %0,75\u2019te tuttu; yen zay\u0131flarken USD\/JPY 159,70\u2019e indi. Fed\u2019in duraksamas\u0131 dolar\u0131 bask\u0131lad\u0131. Faiz fark\u0131 carry trade\u2019i canl\u0131 tutuyor; 160 \u00fcst\u00fc m\u00fcdahale ve sert d\u00f6n\u00fc\u015f riski.<\/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-30691","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\/30691","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=30691"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30691\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=30691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=30691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=30691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}