TD Securities ekonomistleri Oscar Munoz ve Eli Nir, ABD Merkez Bankas\u0131\u2019n\u0131n (Fed) \u0130ran\u2019daki \u00e7at\u0131\u015fmay\u0131 de\u011ferlendirip enflasyonu izlemesi nedeniyle Eyl\u00fcl\u2019e kadar para politikas\u0131n\u0131 (faiz ve likidite duru\u015funu) de\u011fi\u015ftirmeyece\u011fini \u00f6ng\u00f6r\u00fcyor. Ekonomistler, enerji kaynakl\u0131 kal\u0131c\u0131 enflasyonun ve Federal A\u00e7\u0131k Piyasa Komitesi (FOMC: Fed\u2019in faiz kararlar\u0131n\u0131 alan kurul) i\u00e7indeki g\u00f6r\u00fc\u015f ayr\u0131l\u0131klar\u0131n\u0131n, faiz indirimlerini geciktirip Fed fonlama faizini (bankalar\u0131n gecelik bor\u00e7lanma faizi) uzun s\u00fcre y\u00fcksek tutabilece\u011fini belirtiyor.<\/p>\n
Munoz ve Nir, Fed Ba\u015fkan\u0131 Jerome Powell\u2019\u0131n gelecekteki politika y\u00f6n\u00fc konusunda net bir taahh\u00fct vermedi\u011fini, buna kar\u015f\u0131n \u201cgelece\u011fe d\u00f6n\u00fck y\u00f6nlendirme\u201dnin (forward guidance: Fed\u2019in gelecekteki faiz ad\u0131mlar\u0131na dair mesajlar\u0131) daha iki y\u00f6nl\u00fc bir duru\u015fa ta\u015f\u0131nmas\u0131n\u0131n tart\u0131\u015f\u0131ld\u0131\u011f\u0131n\u0131 aktar\u0131yor. Buna g\u00f6re Nisan\u2019da \u00fc\u00e7 b\u00f6lgesel Fed ba\u015fkan\u0131 kar\u015f\u0131 oy kulland\u0131 ve bu de\u011fi\u015fikli\u011fi destekledi; ilk ad\u0131m\u0131n da politika metnindeki (statement: toplant\u0131 sonras\u0131 yay\u0131mlanan karar metni) ifadelerin g\u00fcncellenmesiyle at\u0131lmas\u0131 bekleniyor.<\/p>\n
Ekonomistler 2026\u2019da toplam 50 baz puan (bp: 0,01 puan; 50 bp = 0,50 puan) faiz indirimi ve Mart 2027\u2019de ilave 25 baz puan indirimi \u00f6ng\u00f6r\u00fcyor. Ayr\u0131ca alternatif senaryoda Eyl\u00fcl ve Aral\u0131k\u2019ta toplam 50 baz puan, Mart 2027\u2019de de 25 baz puan ek indirimle Fed fonlama faizinin %3,00 seviyesinde tamamlanabilece\u011fini s\u00f6yl\u00fcyor.<\/p>\n
Eyl\u00fcl\u2019de yeniden gev\u015femeye (easing: faiz indirimleri ve daha rahat finansal ko\u015fullar) d\u00f6n\u00fclmesinin, enflasyonun normalle\u015fmesine ve \u0130ran kaynakl\u0131 ekonomik etkinin s\u0131n\u0131rl\u0131 kalmas\u0131na ba\u011fl\u0131 oldu\u011funu vurguluyorlar. Ayr\u0131ca New York Fed Ba\u015fkan\u0131 John Williams\u2019\u0131n yakla\u015fan a\u00e7\u0131klamalar\u0131 yak\u0131ndan izlenecek; \u00f6zellikle karar metni dilinde olas\u0131 de\u011fi\u015fikliklere dair mesajlar aranacak.<\/p>\n
Canl\u0131 VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturun<\/a>\u00a0ve\u00a0hemen i\u015flem yapmaya ba\u015flay\u0131n<\/a>. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" Piyasalar\u0131n g\u00f6z\u00fc Fed\u2019de: TD Securities, \u0130ran gerilimi ve enerji enflasyonu nedeniyle Fed\u2019in Eyl\u00fcl\u2019e kadar beklemede kalabilece\u011fini, ileri y\u00f6nlendirmeyi revize edebilece\u011fini; indirimlerin 2026-27\u2019ye sarkabilece\u011fini s\u00f6yl\u00fcyor.<\/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-46098","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\/46098","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=46098"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46098\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=46098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=46098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=46098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}