{"id":31118,"date":"2026-03-25T09:11:17","date_gmt":"2026-03-25T09:11:17","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/subat-ayinda-birlesik-krallikta-aylik-tuketici-fiyat-endeksi-yuzde-04-artti-ekonomistlerin-beklentileriyle-uyumlu-geldi\/"},"modified":"2026-03-25T09:11:17","modified_gmt":"2026-03-25T09:11:17","slug":"subat-ayinda-birlesik-krallikta-aylik-tuketici-fiyat-endeksi-yuzde-04-artti-ekonomistlerin-beklentileriyle-uyumlu-geldi","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/subat-ayinda-birlesik-krallikta-aylik-tuketici-fiyat-endeksi-yuzde-04-artti-ekonomistlerin-beklentileriyle-uyumlu-geldi\/","title":{"rendered":"\u015eubat ay\u0131nda Birle\u015fik Krall\u0131k\u2019ta ayl\u0131k T\u00fcketici Fiyat Endeksi y\u00fczde 0,4 artt\u0131; ekonomistlerin beklentileriyle uyumlu geldi."},"content":{"rendered":"Birle\u015fik Krall\u0131k T\u00fcketici Fiyat Endeksi (T\u00dcFE, CPI) \u015eubat ay\u0131nda ayl\u0131k bazda %0,4 artt\u0131. Bu art\u0131\u015f %0,4 beklentisiyle ayn\u0131 ger\u00e7ekle\u015fti.\n\nBu veri, t\u00fcketici fiyatlar\u0131n\u0131n Ocak\u2019tan \u015eubat\u2019a de\u011fi\u015fimini g\u00f6sterir. Birle\u015fik Krall\u0131k\u2019ta enflasyonun ayl\u0131k \u00f6l\u00e7\u00fcm\u00fcd\u00fcr.\n\n\u015eubat ay\u0131 t\u00fcketici enflasyonu %0,4 ile piyasadaki beklentiyle bire bir ayn\u0131 geldi. S\u00fcrpriz olmamas\u0131, bu haber tek ba\u015f\u0131na piyasada k\u0131sa vadede sert hareketler beklememek gerekti\u011fi anlam\u0131na geliyor. \u00d6ng\u00f6r\u00fclebilirlik, mevcut varl\u0131k fiyatlar\u0131n\u0131n\u2014\u0130ngiltere devlet tahvilleri (gilts: Birle\u015fik Krall\u0131k Hazine tahvilleri) ve FTSE vadeli i\u015flemleri dahil\u2014bu enflasyon d\u00fczeyini zaten fiyatlad\u0131\u011f\u0131n\u0131 g\u00f6steriyor.\n\nBu veri, \u0130ngiltere Merkez Bankas\u0131\u2019n\u0131n (BoE) faizlerde \u201cbekle-g\u00f6r\u201d tutumunu s\u00fcrd\u00fcrmesi g\u00f6r\u00fc\u015f\u00fcn\u00fc g\u00fc\u00e7lendiriyor; \u00e7\u00fcnk\u00fc y\u0131ll\u0131k enflasyon h\u00e2l\u00e2 %3,8 seviyesinde ve resmi %2 hedefinin neredeyse iki kat\u0131. Piyasalar 2025\u2019te defalarca erken faiz indirimi fiyatlamaya \u00e7al\u0131\u015fm\u0131\u015f, ancak Banka\u2019n\u0131n kal\u0131c\u0131 enflasyona kar\u015f\u0131 s\u0131k\u0131 duru\u015fu (\u015fahin duru\u015f: enflasyonla m\u00fccadele i\u00e7in faizi y\u00fcksek tutma e\u011filimi) nedeniyle hayal k\u0131r\u0131kl\u0131\u011f\u0131 ya\u015fam\u0131\u015ft\u0131. Mevcut veri, politika yap\u0131c\u0131lara \u00f6n\u00fcm\u00fczdeki haftalarda bu s\u0131k\u0131 tonunu de\u011fi\u015ftirmeleri i\u00e7in bir gerek\u00e7e vermiyor.\n\nBankan\u0131n rotas\u0131 istikrarl\u0131 g\u00f6r\u00fcn\u00fcrken, Birle\u015fik Krall\u0131k varl\u0131klar\u0131nda ima edilen oynakl\u0131\u011f\u0131n (implied volatility: opsiyon fiyatlar\u0131ndan t\u00fcretilen, piyasan\u0131n bekledi\u011fi fiyat dalgalanmas\u0131) d\u00fc\u015f\u00fck kalmas\u0131 beklenir. Bu ortam, FTSE 100 \u00fczerinde k\u0131sa vadeli opsiyon satarak prim toplamay\u0131 (premium: opsiyon sat\u0131c\u0131s\u0131n\u0131n ald\u0131\u011f\u0131 \u00fccret) \u00f6ne \u00e7\u0131karabilir; \u00e7\u00fcnk\u00fc ani fiyat s\u0131\u00e7ramalar\u0131 daha az olas\u0131d\u0131r. Ancak Birle\u015fik Krall\u0131k\u2019ta hizmet enflasyonu kalemi (services inflation: hizmet fiyatlar\u0131ndaki art\u0131\u015f) inat\u00e7\u0131 bi\u00e7imde y\u00fcksek; son verilere g\u00f6re %5,5\u2019in \u00fczerinde. Bu durum yukar\u0131 y\u00f6nl\u00fc temel risk olmaya devam ediyor.\n\nFaiz piyasas\u0131 yat\u0131r\u0131mc\u0131lar\u0131 i\u00e7in SONIA vadeli i\u015flemler e\u011frisi (SONIA futures curve: gecelik sterlin faizine dayal\u0131 vadeli kontratlar\u0131n vade boyunca ima etti\u011fi faiz patikas\u0131) ilk faiz indirimini 2026\u2019n\u0131n 3. \u00e7eyre\u011fi sonlar\u0131na do\u011fru fiyatl\u0131yor. G\u00f6r\u00fclen enflasyonun yap\u0131\u015fkanl\u0131\u011f\u0131 (sticky inflation: kolay d\u00fc\u015fmeyen, kal\u0131c\u0131 enflasyon) dikkate al\u0131nd\u0131\u011f\u0131nda bu takvim iyimser kalabilir. \u201cUzun s\u00fcre y\u00fcksek\u201d (higher for longer: faizlerin daha uzun s\u00fcre y\u00fcksek kalmas\u0131) senaryosuna y\u00f6nelik pozisyon alma f\u0131rsat\u0131 g\u00f6r\u00fcyoruz; faiz indirimlerinin 4. \u00e7eyre\u011fe sarkmas\u0131 olas\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>\u0130ngiltere\u2019de \u015eubat T\u00dcFE ayl\u0131k %0,4 artarak beklentiyle \u00f6rt\u00fc\u015ft\u00fc: piyasada sert reaksiyon zor. BoE\u2019nin bekle-g\u00f6r ve \u201cuzun s\u00fcre y\u00fcksek faiz\u201d duru\u015fu g\u00fc\u00e7lenirken, hizmet enflasyonu risk olu\u015fturuyor. SONIA 2026 indirimini fiyatl\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-31118","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\/31118","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=31118"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/31118\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=31118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=31118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=31118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}