{"id":44784,"date":"2026-04-16T15:54:25","date_gmt":"2026-04-16T15:54:25","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/td-securities-ingilterede-subat-ayi-gsyhnin-guclu-hizmetler-uretim-ve-insaatin-etkisiyle-beklentileri-astigini-ancak-mpcnin-temkinli-kaldigini-belirtti\/"},"modified":"2026-04-16T15:54:25","modified_gmt":"2026-04-16T15:54:25","slug":"td-securities-ingilterede-subat-ayi-gsyhnin-guclu-hizmetler-uretim-ve-insaatin-etkisiyle-beklentileri-astigini-ancak-mpcnin-temkinli-kaldigini-belirtti","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/td-securities-ingilterede-subat-ayi-gsyhnin-guclu-hizmetler-uretim-ve-insaatin-etkisiyle-beklentileri-astigini-ancak-mpcnin-temkinli-kaldigini-belirtti\/","title":{"rendered":"TD Securities, \u0130ngiltere\u2019de \u015eubat ay\u0131 GSYH\u2019nin g\u00fc\u00e7l\u00fc hizmetler, \u00fcretim ve in\u015faat\u0131n etkisiyle beklentileri a\u015ft\u0131\u011f\u0131n\u0131, ancak MPC\u2019nin temkinli kald\u0131\u011f\u0131n\u0131 belirtti"},"content":{"rendered":"<p>\u015eubat ay\u0131nda Birle\u015fik Krall\u0131k GSYH\u2019si (Gayrisafi Yurt \u0130\u00e7i Has\u0131la; ekonominin toplam \u00fcretimi) ayl\u0131k bazda %0,5 artt\u0131. Piyasa beklentisi %0,1 seviyesindeydi. Art\u0131\u015f; hizmetler, \u00fcretim ve in\u015faat\u0131n geneline yay\u0131ld\u0131.<\/p>\n<p>Hizmetler sekt\u00f6r\u00fc \u00fcretimi ayl\u0131k bazda %0,5 y\u00fckseldi; beklenti %0,2 idi. Hizmetler, b\u00fcy\u00fcmeye en b\u00fcy\u00fck katk\u0131y\u0131 verdi; 14 alt sekt\u00f6r\u00fcn 12\u2019sinde geni\u015fleme g\u00f6r\u00fcld\u00fc.<\/p>\n<h3>\u015eubat B\u00fcy\u00fcmesi Piyasalar\u0131 \u015ea\u015f\u0131rtt\u0131<\/h3>\n<p>Toptan ve perakende ticarette, ayr\u0131ca profesyonel ve idari hizmetlerde g\u00fc\u00e7l\u00fc seyir \u00f6ne \u00e7\u0131kt\u0131. \u015eubat verileri, 2025\u2019in sonlar\u0131ndaki zay\u0131f g\u00f6r\u00fcn\u00fcm\u00fcn ard\u0131ndan faaliyetin h\u0131zland\u0131\u011f\u0131na i\u015faret ediyor.<\/p>\n<p>\u00dc\u00e7 ayl\u0131k d\u00f6nemlerin kar\u015f\u0131la\u015ft\u0131r\u0131ld\u0131\u011f\u0131 GSYH g\u00f6stergesi (son 3 ay\u0131n, bir \u00f6nceki 3 aya g\u00f6re de\u011fi\u015fimi) %0,5\u2019e y\u00fckseldi. Bu, 1. \u00e7eyrek b\u00fcy\u00fcmesinin Para Politikas\u0131 Kurulu\u2019nun (MPC; \u0130ngiltere Merkez Bankas\u0131\u2019nda faiz karar\u0131n\u0131 alan kurul) %0,2\u2019lik tahmininin \u00fczerinde ger\u00e7ekle\u015febilece\u011fini g\u00f6steriyor.<\/p>\n<p>Veriler \u201c\u00e7at\u0131\u015fma \u00f6ncesi\u201d d\u00f6neme ait olarak tan\u0131mlan\u0131yor; bu nedenle \u0130ngiltere Merkez Bankas\u0131\u2019n\u0131n nisan ay\u0131 politika karar\u0131na etkisi s\u0131n\u0131rl\u0131 olabilir. Metinde, i\u00e7eri\u011fin bir yapay zek\u00e2 arac\u0131yla haz\u0131rland\u0131\u011f\u0131 ve edit\u00f6r taraf\u0131ndan g\u00f6zden ge\u00e7irildi\u011fi belirtiliyor.<\/p>\n<h3>Sterlin Dalgalanmas\u0131 \u00dczerindeki Etkiler<\/h3>\n<p>Ancak bu g\u00fc\u00e7l\u00fc veri, \u00e7at\u0131\u015fma nedeniyle g\u00fcncelli\u011fini k\u0131smen yitirmi\u015f durumda ve Banka\u2019n\u0131n nisan toplant\u0131s\u0131nda daha sert (daha h\u0131zl\u0131\/faiz art\u0131\u015f\u0131n\u0131 \u00f6ne \u00e7eken) bir ad\u0131m atmas\u0131n\u0131 muhtemelen sa\u011flamaz. Odak, mart ay\u0131nda T\u00fcketici Fiyat Endeksi\u2019nin (T\u00dcFE\/CPI; t\u00fcketici enflasyonunun ana g\u00f6stergesi) %7,0 ile 30 y\u0131l\u0131n zirvesine \u00e7\u0131kt\u0131\u011f\u0131 son enflasyon verilerine kaym\u0131\u015f durumda. Bu tablo MPC\u2019yi zor bir se\u00e7ime itiyor: h\u0131zla y\u00fckselen enflasyonla m\u00fccadele mi, yoksa b\u00fcy\u00fck bir \u015fokla kar\u015f\u0131 kar\u015f\u0131ya kalan ekonomiyi desteklemek mi?<\/p>\n<p>Trader\u2019lar (k\u0131sa vadeli i\u015flem yapan yat\u0131r\u0131mc\u0131lar) a\u00e7\u0131s\u0131ndan bu, belirsizli\u011fi art\u0131rarak Sterlin\u2019de oynakl\u0131\u011f\u0131 (fiyatlar\u0131n k\u0131sa s\u00fcrede sert dalgalanmas\u0131) y\u00fckseltebilir. Piyasa enflasyonla m\u00fccadele i\u00e7in faiz art\u0131\u015flar\u0131n\u0131 (politika faizinin y\u00fckseltilmesi) h\u00e2l\u00e2 fiyatl\u0131yor, ancak izlenecek yol bir ay \u00f6ncesine g\u00f6re daha belirsiz. 2022\u2019deki benzer enerji fiyat \u015fokunda, b\u00fcy\u00fcme g\u00f6r\u00fcn\u00fcm\u00fc bozulsa da Banka\u2019n\u0131n s\u0131n\u0131rl\u0131 faiz art\u0131\u015flar\u0131n\u0131 s\u00fcrd\u00fcrd\u00fc\u011f\u00fc g\u00f6r\u00fclm\u00fc\u015ft\u00fc.<\/p>\n<p>Bu ortam, kur piyasas\u0131nda beklenen dalgalanmalardan yararlanmak i\u00e7in opsiyon al\u0131m\u0131n\u0131 (belirli bir vadede, belirli bir fiyattan alma\/satma hakk\u0131 veren s\u00f6zle\u015fme) temkinli bir strateji h\u00e2line getirebilir. Ge\u00e7mi\u015fteki g\u00fc\u00e7l\u00fc b\u00fcy\u00fcme ile y\u00fcksek enflasyon ve yeni \u00e7at\u0131\u015fma gibi \u00e7eli\u015fkili sinyaller, iki y\u00f6nde de sert hareket olas\u0131l\u0131\u011f\u0131n\u0131 art\u0131r\u0131yor. Bu nedenle y\u00f6n ba\u011f\u0131ms\u0131z \u015fekilde artan oynakl\u0131ktan kazan\u00e7 hedefleyen stratejiler daha cazip olabilir.<\/p>\n<p>Olumsuz g\u00f6r\u00fcn\u00fcm dikkate al\u0131nd\u0131\u011f\u0131nda, Sterlin\u2019de a\u015fa\u011f\u0131 y\u00f6nl\u00fc e\u011filim (d\u00fc\u015f\u00fc\u015f a\u011f\u0131rl\u0131kl\u0131 beklenti) makul g\u00f6r\u00fcn\u00fcyor. Birle\u015fik Krall\u0131k ekonomisi enerji ithalat\u0131na y\u00fcksek derecede ba\u011f\u0131ml\u0131 oldu\u011fundan, \u00e7at\u0131\u015fma \u00f6nemli bir bask\u0131 unsuru (r\u00fczg\u00e2r\u0131n tersine esmesi) olu\u015fturuyor. Bu nedenle yat\u0131r\u0131mc\u0131lar, olas\u0131 d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 korunmak veya d\u00fc\u015f\u00fc\u015ften faydalanmak i\u00e7in GBP\u2019de sat\u0131m opsiyonu (put; belirli fiyattan satma hakk\u0131) al\u0131m\u0131n\u0131 de\u011ferlendirebilir.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S\u00fcrpriz! \u0130ngiltere GSYH\u2019si \u015fubatta ayl\u0131k %0,5 artarak beklentiyi a\u015ft\u0131; hizmetler lokomotif. Ancak veri \u201c\u00e7at\u0131\u015fma \u00f6ncesi\u201d. Enflasyon bask\u0131s\u0131, BoE patikas\u0131 ve Sterlin oynakl\u0131\u011f\u0131 art\u0131yor; put\/opsiyon stratejileri \u00f6ne \u00e7\u0131k\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-44784","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\/44784","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=44784"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/44784\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=44784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=44784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=44784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}