Endonezya Merkez Bankas\u0131 (Bank Indonesia), Orta Do\u011fu\u2019daki \u00e7at\u0131\u015fmaya ba\u011fl\u0131 artan k\u00fcresel dalgalanma d\u00f6neminde Endonezya rupisini desteklemek i\u00e7in politika faizini 50 baz puan (bp; faizde y\u00fczde 0,50 puanl\u0131k art\u0131\u015f) y\u00fckselterek %5,25\u2019e \u00e7\u0131kard\u0131. Merkez bankas\u0131 ayr\u0131ca kuru istikrara kavu\u015fturmak i\u00e7in daha s\u0131k\u0131 \u00f6nlemler a\u00e7\u0131klad\u0131.<\/p>\n
Guvern\u00f6r Perry Warjiyo, d\u00f6viz piyasas\u0131na m\u00fcdahalenin spot piyasalarda (anl\u0131k kurdan i\u015flem) ve NDF\u2019ler (Non-Deliverable Forward; teslimats\u0131z vadeli i\u015flem, vade sonunda kur fark\u0131n\u0131n nakit \u00f6denmesi) \u00fczerinden hem yurti\u00e7inde hem de offshore (yurtd\u0131\u015f\u0131 piyasalarda) art\u0131r\u0131laca\u011f\u0131n\u0131 s\u00f6yledi. Likiditeyi (piyasadaki para\/kolay al\u0131m-sat\u0131m imk\u00e2n\u0131) y\u00f6netmek ve rupiyi desteklemek i\u00e7in para politikas\u0131 ara\u00e7lar\u0131n\u0131n da g\u00fc\u00e7lendirildi\u011fini belirtti.<\/p>\n
Bu karar, k\u00fcresel enerji fiyatlar\u0131ndan gelen bask\u0131ya ra\u011fmen 2026\u20132027 d\u00f6nemi i\u00e7in enflasyonu %1,5\u2013%3,5 hedef band\u0131nda tutmay\u0131 ama\u00e7l\u0131yor. Haberde ayr\u0131ca, emtia ihracat gelirlerinin devlet varl\u0131k fonu \u00fczerinden daha merkezi bir yap\u0131da toplanmas\u0131na y\u00f6nelik planlara da de\u011finiliyor.<\/p>\n
2026 i\u00e7in GSYH (Gayrisafi Yurt \u0130\u00e7i Has\u0131la; ekonominin toplam \u00fcretimi) b\u00fcy\u00fcmesi %4,9\u2013%5,7 aral\u0131\u011f\u0131nda \u00f6ng\u00f6r\u00fcl\u00fcyor; kamu harcamalar\u0131 destek unsuru olarak g\u00f6steriliyor. Cari a\u00e7\u0131k (\u00fclkenin d\u0131\u015f ticaret ve gelir-gider dengesindeki a\u00e7\u0131k) 2026\u2019da GSYH\u2019nin %0,5\u2013%1,3\u2019\u00fc seviyesinde bekleniyor.<\/p>\n
Bu ad\u0131m\u0131n gerek\u00e7esi enflasyondan \u00e7ok kur. Nisan 2026 verilerine g\u00f6re enflasyon %3,1 ile hedef aral\u0131\u011f\u0131nda. Bu, politika yap\u0131c\u0131lar\u0131n \u00f6nleyici davrand\u0131\u011f\u0131n\u0131 ve IDR\u2019yi (Endonezya rupisi) savunma konusunda g\u00fcvenilirliklerinin y\u00fcksek oldu\u011funu g\u00f6steriyor.<\/p>\n
Politika faizinin %5,25\u2019e \u00e7\u0131kmas\u0131yla IDR carry trade\u2019in (faizi y\u00fcksek para birimini al\u0131p, faizi d\u00fc\u015f\u00fck para biriminde bor\u00e7lanarak faiz fark\u0131ndan getiri arama stratejisi) cazibesi artt\u0131. ABD faizlerinin yakla\u015f\u0131k %5,0 civar\u0131nda kalmas\u0131yla faiz fark\u0131n\u0131n a\u00e7\u0131lmas\u0131, sermaye giri\u015flerini destekleyebilir ve vadeli piyasalarda (forward; ileri tarihli kurdan i\u015flem) IDR uzun pozisyon (paran\u0131n de\u011fer kazanaca\u011f\u0131 beklentisiyle pozisyon) ta\u015f\u0131may\u0131 daha cazip k\u0131labilir. Bu durumun kur i\u00e7in d\u00fczenli bir al\u0131m talebi yaratmas\u0131 bekleniyor.<\/p>\n
Temel g\u00f6stergeler de rupi varl\u0131klar\u0131n\u0131 ta\u015f\u0131mak a\u00e7\u0131s\u0131ndan bir miktar g\u00fcven veriyor. 2026\u2019da b\u00fcy\u00fcmenin yakla\u015f\u0131k %5 ile g\u00fc\u00e7l\u00fc kalmas\u0131 ve y\u00f6netilebilir seviyedeki cari a\u00e7\u0131k, politikan\u0131n daha sa\u011flam bir zemine dayand\u0131\u011f\u0131na i\u015faret ediyor.<\/p>\n
Merkez bankas\u0131n\u0131n spot, NDF ve di\u011fer ara\u00e7lar\u0131 kullanma kararl\u0131l\u0131\u011f\u0131, kur y\u00f6netimi i\u00e7in koordineli bir yakla\u015f\u0131m olarak g\u00f6r\u00fclmeli. Rupi\u2019nin daha fazla de\u011fer kayb\u0131na kar\u015f\u0131 korunman\u0131n maliyeti (hedging; kur riskini azaltmak i\u00e7in yap\u0131lan i\u015flemler) y\u00fckseldi. Ge\u00e7en hafta a\u015f\u0131lan 16.450 seviyesinin alt\u0131nda USD\/IDR\u2019nin (ABD dolar\u0131\/Endonezya rupisi kuru) kal\u0131p kalamayaca\u011f\u0131 izleniyor.<\/p>\n","protected":false},"excerpt":{"rendered":"
S\u00fcrpriz hamle: Bank Indonesia, Orta Do\u011fu kaynakl\u0131 dalgalanmada rupiyi savunmak i\u00e7in faizi 50 bp art\u0131r\u0131p %5,25\u2019e \u00e7ekti; spot-NDF m\u00fcdahalesini geni\u015fletti, carry cazibesini y\u00fckseltti; USD\/IDR 16.450 kritik.<\/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-47103","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\/47103","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=47103"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/47103\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=47103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=47103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=47103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}