{"id":30730,"date":"2026-03-19T15:02:48","date_gmt":"2026-03-19T15:02:48","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/avrupa-islemlerinde-yen-boj-baskani-uedanin-faiz-artislarinin-mumkun-oldugunu-korumasiyla-baslica-para-birimlerine-karsi-one-cikiyor\/"},"modified":"2026-03-19T15:02:48","modified_gmt":"2026-03-19T15:02:48","slug":"avrupa-islemlerinde-yen-boj-baskani-uedanin-faiz-artislarinin-mumkun-oldugunu-korumasiyla-baslica-para-birimlerine-karsi-one-cikiyor","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/avrupa-islemlerinde-yen-boj-baskani-uedanin-faiz-artislarinin-mumkun-oldugunu-korumasiyla-baslica-para-birimlerine-karsi-one-cikiyor\/","title":{"rendered":"Avrupa i\u015flemlerinde yen, BoJ Ba\u015fkan\u0131 Ueda\u2019n\u0131n faiz art\u0131\u015flar\u0131n\u0131n m\u00fcmk\u00fcn oldu\u011funu korumas\u0131yla ba\u015fl\u0131ca para birimlerine kar\u015f\u0131 \u00f6ne \u00e7\u0131k\u0131yor"},"content":{"rendered":"Japon Yeni, Per\u015fembe g\u00fcn\u00fc Avrupa seans\u0131nda ba\u015fl\u0131ca para birimlerine kar\u015f\u0131 de\u011fer kazand\u0131. Japonya Merkez Bankas\u0131 (BoJ), politika faizini %0,75\u2019te sabit b\u0131rak\u0131nca USD\/JPY %0,45 d\u00fc\u015ferek 159,00 civar\u0131na geriledi.\n\nBoJ Ba\u015fkan\u0131 Kazuo Ueda, faiz art\u0131\u015flar\u0131n\u0131n h\u00e2l\u00e2 masada oldu\u011funu s\u00f6yledi. Orta Do\u011fu\u2019daki \u00e7at\u0131\u015fmalar\u0131n ekonomide yava\u015flamaya yol a\u00e7abilece\u011fini, bunun da fiyatlar (enflasyon) ve g\u00f6r\u00fcn\u00fcm konusunda endi\u015feleri art\u0131rd\u0131\u011f\u0131n\u0131 belirtti.\n\n

Japonya Merkez Bankas\u0131\u2019n\u0131n (BoJ) Politika Sinyalleri<\/h3>\nToplant\u0131da kurul \u00fcyesi Hajime Takata kar\u015f\u0131 oy kulland\u0131 ve faizin %1,0\u2019a y\u00fckseltilmesini istedi. Fiyatlar\u0131n (enflasyonun) %2 hedefe geri d\u00f6nd\u00fc\u011f\u00fcn\u00fc, \u0130ran ile ilgili \u00e7at\u0131\u015fma ortam\u0131nda enflasyonun h\u0131zlanabilece\u011fini s\u00f6yledi.\n\nABD Dolar\u0131, \u00c7ar\u015famba g\u00fcnk\u00fc y\u00fckseli\u015fin ard\u0131ndan hafif geriledi. ABD Dolar Endeksi (DXY \u2014 dolar\u0131n ba\u015fl\u0131ca para birimlerinden olu\u015fan bir sepete kar\u015f\u0131 g\u00fcc\u00fcn\u00fc g\u00f6steren endeks) %0,1 d\u00fc\u015f\u00fc\u015fle 100,15 civar\u0131na indi; ge\u00e7en hafta g\u00f6r\u00fclen 100,54 seviyesi ise 9 ay\u0131 a\u015fk\u0131n s\u00fcrenin zirvesiydi.\n\nDolar, bir \u00f6nceki g\u00fcn ABD Merkez Bankas\u0131\u2019n\u0131n (Fed) faizleri bir s\u00fcre daha sabit tutaca\u011f\u0131 mesaj\u0131 sonras\u0131 y\u00fckselmi\u015fti. Fed, enflasyondaki d\u00fc\u015f\u00fc\u015f\u00fcn duraksad\u0131\u011f\u0131n\u0131 vurgulam\u0131\u015ft\u0131.\n\n2025\u2019in sonlar\u0131nda BoJ Ba\u015fkan\u0131 Ueda\u2019n\u0131n a\u00e7\u0131klamalar\u0131, uzun s\u00fcre devam eden \u201c\u00e7ok d\u00fc\u015f\u00fck faiz\u201d d\u00f6neminin sona yakla\u015fabilece\u011fine i\u015faret etmi\u015f ve yenin g\u00fc\u00e7lenmesine yol a\u00e7m\u0131\u015ft\u0131. Bu daha \u015fahin duru\u015f (enflasyona kar\u015f\u0131 daha s\u0131k\u0131 para politikas\u0131 isteyen yakla\u015f\u0131m) zamanla politikaya d\u00f6n\u00fc\u015ft\u00fc; BoJ faizi bu y\u0131lki art\u0131\u015f\u0131n ard\u0131ndan %1,0 seviyesinde. USD\/JPY\u2019nin 148,50 civar\u0131nda i\u015flem g\u00f6rd\u00fc\u011f\u00fc ortamda, piyasalar daha az pasif bir Japon merkez bankas\u0131 ger\u00e7e\u011fini fiyatl\u0131yor.\n\n

Piyasa Temalar\u0131 ve \u0130\u015flem Etkileri<\/h3>\nFed ise 2025\u2019teki sert duru\u015funa k\u0131yasla daha yumu\u015fak bir \u00e7izgiye ge\u00e7ti. Ge\u00e7en haftaki ABD \u00c7ekirdek PCE verisi (Fed\u2019in tercih etti\u011fi enflasyon g\u00f6stergesi; g\u0131da ve enerji gibi oynak kalemler hari\u00e7 fiyat art\u0131\u015f\u0131n\u0131 \u00f6l\u00e7er) y\u0131ll\u0131kland\u0131r\u0131lm\u0131\u015f %2,6 geldi. Bu, yetkililere faiz indirim s\u00fcrecini (gev\u015feme d\u00f6ng\u00fcs\u00fc) s\u00fcrd\u00fcrme konusunda g\u00fcven verdi. B\u00f6ylece politika ayr\u0131\u015fmas\u0131 (iki merkez bankas\u0131n\u0131n z\u0131t y\u00f6nde hareket etmesi) piyasada ana tema h\u00e2line geldi ve ge\u00e7en y\u0131l\u0131n dinami\u011finin tersine d\u00f6nd\u00fc.\n\nT\u00fcrev \u00fcr\u00fcnlerle i\u015flem yapanlar i\u00e7in (t\u00fcrev: de\u011feri kur, faiz, emtia gibi ba\u015fka bir varl\u0131\u011fa ba\u011fl\u0131 \u00fcr\u00fcnler), bu ortam opsiyonlarla yenin g\u00fc\u00e7lenmesine oynama fikrini \u00f6ne \u00e7\u0131kar\u0131yor. USD\/JPY\u2019de 3 ayl\u0131k ima edilen oynakl\u0131k (opsiyon fiyatlar\u0131ndan hesaplanan beklenen dalgalanma) %9,2\u2019ye y\u00fckseldi; bu da merkez bankalar\u0131n\u0131n bir sonraki ad\u0131mlar\u0131n\u0131n h\u0131z\u0131na dair belirsizli\u011fi yans\u0131t\u0131yor. \u00d6n\u00fcm\u00fczdeki \u00e7eyrekte vadesi dolacak yen al\u0131m opsiyonu (call) ya da USD\/JPY sat\u0131m opsiyonu (put) almak, kurda olas\u0131 d\u00fc\u015f\u00fc\u015ften faydalan\u0131rken riski ba\u015ftan s\u0131n\u0131rlamaya yard\u0131mc\u0131 olur.\n\nTarihsel olarak, geni\u015f faiz fark\u0131 (iki \u00fclke faizleri aras\u0131ndaki fark) USD\/JPY\u2019de d\u00fc\u015f\u00fc\u015f y\u00f6n\u00fcnde pozisyon almay\u0131 (kuru \u201cshortlamak\u201d: d\u00fc\u015f\u00fc\u015f beklentisiyle sat\u0131\u015f y\u00f6n\u00fcnde i\u015flem almak) uzun s\u00fcre zorla\u015ft\u0131rd\u0131. Fed faizi %4,75 ve BoJ faizi %1,0 olsa da, kalan getiri fark\u0131 yenin h\u0131zl\u0131 de\u011fer kazanmas\u0131n\u0131 yava\u015flatabilecek kadar b\u00fcy\u00fck. Bu da paritede d\u00fc\u015f\u00fc\u015f\u00fcn sert bir kopu\u015ftan \u00e7ok daha kademeli bir gerileme \u015feklinde olabilece\u011fine i\u015faret ediyor.\n\n\u0130zlenmesi gereken kritik veri, yakla\u015fan Japon \u201cShunto\u201d \u00fccret g\u00f6r\u00fc\u015fmelerinin nihai sonucu. Ay ba\u015f\u0131ndaki \u00f6n raporlar ortalama \u00fccret art\u0131\u015f\u0131n\u0131 %4,8 g\u00f6stermi\u015fti; bu oran do\u011frulan\u0131rsa 30 y\u0131l\u0131 a\u015fk\u0131n s\u00fcrenin en y\u00fckse\u011fi olacak ve BoJ\u2019a yeni bir faiz art\u0131\u015f\u0131n\u0131 de\u011ferlendirmek i\u00e7in daha net bir zemin sa\u011flayacak. 2025\u2019te kar\u015f\u0131 oy kullanan \u015fahin \u00fcyelerin endi\u015fe etti\u011fi senaryo da buydu.\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":"

Yen Avrupa seans\u0131nda g\u00fc\u00e7lendi: BoJ faizi %0,75\u2019te tutsa da Ueda \u201cart\u0131\u015f masada\u201d dedi, USD\/JPY 159\u2019a indi. Fed gev\u015ferken politika ayr\u0131\u015fmas\u0131 ve Shunto \u00fccretleri oda\u011fa yerle\u015fti.<\/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-30730","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\/30730","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=30730"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30730\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=30730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=30730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=30730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}