{"id":43787,"date":"2026-04-02T02:57:27","date_gmt":"2026-04-02T02:57:27","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/commerzbank-bnmnin-malezyanin-2026-buyume-gorunumunu-4-5e-yukselttigini-istikrarli-opr-destegiyle-myryi-destekledigini-belirtti\/"},"modified":"2026-04-02T02:57:27","modified_gmt":"2026-04-02T02:57:27","slug":"commerzbank-bnmnin-malezyanin-2026-buyume-gorunumunu-4-5e-yukselttigini-istikrarli-opr-destegiyle-myryi-destekledigini-belirtti","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/commerzbank-bnmnin-malezyanin-2026-buyume-gorunumunu-4-5e-yukselttigini-istikrarli-opr-destegiyle-myryi-destekledigini-belirtti\/","title":{"rendered":"Commerzbank, BNM\u2019nin Malezya\u2019n\u0131n 2026 b\u00fcy\u00fcme g\u00f6r\u00fcn\u00fcm\u00fcn\u00fc %4\u20135\u2019e y\u00fckseltti\u011fini; istikrarl\u0131 OPR deste\u011fiyle MYR\u2019yi destekledi\u011fini belirtti"},"content":{"rendered":"Malezya Merkez Bankas\u0131 Bank Negara Malaysia (BNM), 2025 Y\u0131ll\u0131k Raporu\u2019nda 2026 b\u00fcy\u00fcme tahminini %4,0\u2013%4,5 aral\u0131\u011f\u0131ndan %4,0\u2013%5,0 aral\u0131\u011f\u0131na y\u00fckseltti. De\u011fi\u015fiklik, i\u00e7 talebin (hanehalk\u0131 harcamalar\u0131 ve \u015firket yat\u0131r\u0131mlar\u0131) g\u00fc\u00e7l\u00fc kalmas\u0131na ba\u011fland\u0131.\n\nBNM, \u00fccret art\u0131\u015flar\u0131, g\u00fc\u00e7l\u00fc i\u015fg\u00fcc\u00fc piyasas\u0131 ve devlet \u00f6nlemlerinin t\u00fcketim ve yat\u0131r\u0131m\u0131 desteklemesini bekliyor. Ayr\u0131ca Orta Do\u011fu\u2019daki \u00e7at\u0131\u015fman\u0131n enflasyon \u00fczerinde yukar\u0131 y\u00f6nl\u00fc bask\u0131 yaratabilece\u011fini belirtti.\n\n

B\u00fcy\u00fcme ve Enflasyon G\u00f6r\u00fcn\u00fcm\u00fc<\/h3>\nEnflasyonun bu y\u0131l %1,5\u2013%2,5 aral\u0131\u011f\u0131nda olmas\u0131 \u00f6ng\u00f6r\u00fcl\u00fcyor. Bu tahmin, h\u00fck\u00fcmetin %1,3\u2013%2,0 beklentisinin \u00fczerinde. G\u00f6r\u00fcn\u00fcm, Brent petrol\u00fcn (uluslararas\u0131 petrol fiyat\u0131 g\u00f6stergesi) 70\u201390 ABD dolar\u0131 band\u0131nda kalaca\u011f\u0131 varsay\u0131m\u0131na dayan\u0131yor.\n\nPiyasa, BNM\u2019nin Gecelik Politika Faizi\u2019ni (bankalar\u0131n merkez bankas\u0131ndan bor\u00e7lanmas\u0131nda temel k\u0131sa vadeli faiz) y\u0131l\u0131n geri kalan\u0131nda ve 2026 boyunca %2,75\u2019te tutmas\u0131n\u0131 bekliyor. Faiz indirimi, b\u00fcy\u00fcmede belirgin bir yava\u015flama olmas\u0131 halinde g\u00fcndeme gelebilir.\n\nBNM\u2019nin \u201cdura\u011fan\u201d bir g\u00f6r\u00fcn\u00fcm vermesi, yerel faiz piyasalar\u0131nda d\u00fc\u015f\u00fck dalgalanma beklentisini g\u00fc\u00e7lendiriyor. Mart enflasyonunun %1,8 ile yatay seyretmesi de bu tabloyu destekliyor. Bu ortamda, faiz vadeli i\u015flemleri \u00fczerindeki opsiyonlarda (belirli bir fiyattan alma\/satma hakk\u0131 veren s\u00f6zle\u015fmeler) oynakl\u0131\u011f\u0131n d\u00fc\u015f\u00fck kalaca\u011f\u0131 varsay\u0131m\u0131yla \u201copsiyon sat\u0131\u015f\u0131\u201d gibi stratejiler \u00f6ne \u00e7\u0131kabilir; ancak bu yakla\u015f\u0131m\u0131n, beklenmedik fiyat hareketlerinde zarar\u0131 b\u00fcy\u00fctebilen y\u00fcksek risk ta\u015f\u0131d\u0131\u011f\u0131 unutulmamal\u0131.\n\nSabit politika faizi, faiz fark\u0131 (\u00fclkeler aras\u0131 faiz oran\u0131 avantaj\u0131) nedeniyle Malezya ringgitini destekleyebilir. 2026 ilk \u00e7eyrekte a\u00e7\u0131klanan %4,2 GSYH b\u00fcy\u00fcmesi de i\u00e7 dinami\u011fin g\u00fc\u00e7l\u00fc oldu\u011funu g\u00f6steriyor. Ringgitin ABD dolar\u0131 kar\u015f\u0131s\u0131nda 4,68\u2019in alt\u0131na g\u00fc\u00e7lenmesi bu e\u011filime i\u015faret ediyor; di\u011fer merkez bankalar\u0131 gev\u015femeyi (faiz indirimi) tart\u0131\u015f\u0131rsa e\u011filim s\u00fcrebilir.\n\n

Hisse Piyasas\u0131 Etkileri<\/h3>\n%4,0\u2013%5,0\u2019lik daha iyi b\u00fcy\u00fcme tahmini, i\u00e7 pazara odakl\u0131 \u015firketleri destekleyerek yerel borsaya olumlu yans\u0131yabilir. FTSE Bursa Malaysia KLCI endeksi bu y\u0131l %3\u2019\u00fcn \u00fczerinde y\u00fckseldi; i\u015fsizli\u011fin %3,3\u2019e gerilemesi de i\u015fg\u00fcc\u00fc piyasas\u0131n\u0131n g\u00fc\u00e7l\u00fc oldu\u011funa i\u015faret ediyor.\n\nAna risk petrol fiyatlar\u0131. Brent petrol\u00fcn varil ba\u015f\u0131na 88 dolar civar\u0131nda olmas\u0131, BNM\u2019nin 70\u201390 dolar varsay\u0131m band\u0131n\u0131n \u00fcst s\u0131n\u0131r\u0131na yak\u0131n. Bu seviyenin kal\u0131c\u0131 \u015fekilde a\u015f\u0131lmas\u0131, enflasyon g\u00f6r\u00fcn\u00fcm\u00fc \u00fczerinden BNM\u2019nin faiz duru\u015funu yeniden de\u011ferlendirmesine yol a\u00e7abilir.\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":"

S\u00fcrpriz revizyon: BNM, 2026 b\u00fcy\u00fcme tahminini %4,0\u2013%5,0\u2019a y\u00fckseltti; g\u00fc\u00e7l\u00fc i\u00e7 talep \u00f6ne \u00e7\u0131k\u0131yor. Enflasyon %1,5\u2013%2,5, faiz %2,75\u2019te sabit; ringgit ve borsa desteklenebilir. Petrol 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-43787","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\/43787","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=43787"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/43787\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=43787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=43787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=43787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}