Piyasa, TCMB mesaj\u0131 sonras\u0131 baz\u0131 kredi faizlerini politika faizine yakla\u015ft\u0131rmay\u0131 ama\u00e7layan yeni ad\u0131mlar\u0131n k\u0131sa s\u00fcrede hayata ge\u00e7mesini bekliyor.<\/b><\/p>\n
Piyasalar, TCMB\u2019nin politika faizi ile kredi faizi makas\u0131n\u0131n a\u00e7\u0131ld\u0131\u011f\u0131 ve bu konuda bir ad\u0131m at\u0131labilece\u011fi mesaj\u0131n\u0131n ard\u0131ndan, baz\u0131 kurumsal kredi faizleri ba\u015fta olmak \u00fczere kredilerin politika faizine do\u011fru d\u00fc\u015f\u00fcrmeyi ama\u00e7layan ad\u0131mlar\u0131n k\u0131sa s\u00fcrede hayata ge\u00e7mesini bekliyor.<\/p>\n
TCMB iktisadi faaliyette ya\u015fanan ivme kayb\u0131n\u0131n telafisi, istihdam ve sanayi \u00fcretimini destekleme amac\u0131 ile d\u00fcn politika faizini beklenmedik \u015fekilde 100 baz puan indirerek %13\u2019e d\u00fc\u015f\u00fcrm\u00fc\u015ft\u00fc. Banka ayr\u0131ca kredi aktar\u0131m mekanizmas\u0131na y\u00f6nelik yeni ad\u0131m atabilece\u011fi sinyalini de d\u00fcn PPK metninde vermi\u015fti.<\/p>\n
Metinde \u201cSon d\u00f6nemde belirgin \u015fekilde a\u00e7\u0131lan politika-kredi faizi makas\u0131n\u0131n parasal aktar\u0131m\u0131n etkinli\u011fini azaltt\u0131\u011f\u0131 de\u011ferlendirilmekte\u201d denildi ve \u201cKurul, makroihtiyati politika setini, parasal aktar\u0131m mekanizmas\u0131n\u0131n etkinli\u011fini destekleyecek ara\u00e7larla daha da g\u00fc\u00e7lendirmeye karar vermi\u015ftir\u201d ifadesi yer ald\u0131.<\/p>\n
TCMB\u2019nin bu a\u00e7\u0131klamalar\u0131 ard\u0131ndan piyasalarda at\u0131lacak ad\u0131m\/ad\u0131mlara ili\u015fkin bir\u00e7ok beklenti ve g\u00f6r\u00fc\u015f olu\u015fmaya ba\u015flad\u0131. TCMB PPK metninde ad\u0131m\u0131n y\u00f6n\u00fcn\u00fc belirtse de zaman\u0131n\u0131 ve i\u00e7eri\u011fi hakk\u0131nda daha net bir yorum yapmad\u0131.<\/p>\n
NE G\u0130B\u0130 ADIMLAR ATILAB\u0130L\u0130R?<\/strong><\/p>\n Reuters\u2019a bilgi veren toplam \u00fc\u00e7 bankac\u0131 da kredi faizlerinin a\u015fa\u011f\u0131 \u00e7ekilmesini ama\u00e7layacak ad\u0131mlar at\u0131laca\u011f\u0131 konusunda hemfikir. Bu yap\u0131l\u0131rken selektif kredilere y\u00f6nelik pozitif ayr\u0131\u015fman\u0131n korunmas\u0131 ya da g\u00fc\u00e7lendirilmesi de beklentiler aras\u0131nda. Reuters\u2019\u0131n g\u00f6r\u00fc\u015flerine ba\u015fvurdu\u011fu bankac\u0131lar, TCMB\u2019nin PPK metninde krediler konusunda mesaj\u0131n\u0131 net \u015fekilde verdi\u011fini d\u00fc\u015f\u00fcn\u00fcyor.<\/p>\n Yeni uygulamalara i\u00e7in, kredi faizlerinin belirli bir oran\u0131n \u00fczerinde kulland\u0131r\u0131lmas\u0131 halinde daha \u00e7ok kar\u015f\u0131l\u0131k ayr\u0131lmas\u0131 gibi TCMB\u2019nin h\u00e2lihaz\u0131rda kulland\u0131\u011f\u0131na benzer uygulamalar gelece\u011fine y\u00f6nelik beklentiler \u00f6n plana \u00e7\u0131k\u0131yor. TCMB h\u00e2lihaz\u0131rda kredilere ZK, yabanc\u0131 para mevduat kar\u015f\u0131l\u0131\u011f\u0131nda ise tahvil tutma zorunlulu\u011fu uyguluyor.<\/p>\n Bankac\u0131lar bu kez en \u00e7ok kredilere y\u00f6nelik tahvil kar\u015f\u0131l\u0131\u011f\u0131 ad\u0131m\u0131n\u0131 \u00f6n plana \u00e7\u0131kmas\u0131n\u0131 bekliyorlar. \u00c7\u00fcnk\u00fc ad\u0131m hem TCMB\u2019nin ge\u00e7mi\u015f ad\u0131mlar\u0131 ile uyumlu hem de kredi verilmeyen kaynaklar\u0131n yeniden Hazine\u2019ye ula\u015fmas\u0131n\u0131 sa\u011flayabiliyor.<\/p>\n TCMB\u2019nin daha \u00f6nce a\u00e7\u0131klad\u0131\u011f\u0131 teminatland\u0131rmada TL\u2019nin daha \u00e7ok kullan\u0131m\u0131, teminatta uzun vadeli sabit kuponlu tahvil kullan\u0131m\u0131 ve repo vadelerinin uzat\u0131lmas\u0131 gibi makroihtiyati tedbirleri ve \u00e7al\u0131\u015fmalar\u0131 da bulunuyor.<\/p>\n \u00dc\u00c7 FARKLI ADIM BEKLEN\u0130YOR<\/strong><\/p>\n Bir bankac\u0131 \u00fc\u00e7 farkl\u0131 ad\u0131m bekledi\u011fini, bunlardan birinin kredi faizlerinde s\u0131n\u0131rlama amac\u0131 ta\u015f\u0131yabilece\u011fini belirterek, \u201c\u00d6rne\u011fin ticari kredi faizlerinde %22 gibi bir oranda limit getirilebilir. \u00d6rne\u011fin bu s\u0131n\u0131rlama ile e\u011fer %22 \u00fczerinde kredi veriyorsa bankaya kredinin belirli bir oran\u0131 kadar uzun vadeli tahvil tutma zorunlulu\u011fu getirilmesi TCMB\u2019nin s\u00f6yledi\u011fi amaca en uygun d\u00fczenleme olabilir\u201d dedi.<\/p>\n TCMB, kredilerin b\u00fcy\u00fcme h\u0131z\u0131 ve eri\u015filen finansman kaynaklar\u0131n\u0131n amac\u0131na uygun \u015fekilde iktisadi faaliyet ile bulu\u015fmas\u0131 yak\u0131ndan takip edildi\u011fini belirtiyor.<\/p>\n TCMB\u2019nin d\u00fcnk\u00fc PPK metninin bir di\u011fer b\u00f6l\u00fcm\u00fcnde de benzer \u015fekilde \u201cDe\u011ferlendirme s\u00fcre\u00e7leri tamamlanan kredi, teminat ve likidite politika ad\u0131mlar\u0131 para politikas\u0131 aktar\u0131m mekanizmas\u0131n\u0131n etkinli\u011finin g\u00fc\u00e7lendirilmesi i\u00e7in kullan\u0131lmaya devam edilecektir\u201d ifadesi yer ald\u0131. Piyasada faizlerin yeni d\u00fc\u015f\u00fcr\u00fclen %13\u2019e do\u011fru yak\u0131nsatacak bir ad\u0131m beklentisi de d\u00fcn TCMB faiz karar\u0131 ile birlikte olu\u015ftu.<\/p>\n H\u00fck\u00fcmet enflasyondaki d\u00fc\u015f\u00fc\u015f\u00fc cari fazla odakl\u0131 politika ile daha sonra sa\u011flayaca\u011f\u0131n\u0131 belirtiyor. Bu kapsamda net ihracat odakl\u0131, d\u00f6viz sat\u0131\u015f\u0131 \u00f6ng\u00f6ren krediler politika faizine yak\u0131n fiyatlan\u0131rken; benzer kurumsal krediler %40\u2019a yak\u0131n, bireysel krediler ise %50 civar\u0131nda maliyette.<\/p>\n Bu kredi maliyeti genellemelerine baz\u0131 istisnalar olsa da mevcut politikada net ihracat odakl\u0131 krediler a\u00e7\u0131k ara \u00e7ok daha d\u00fc\u015f\u00fck maliyetle sa\u011flan\u0131yor. S\u00fcre\u00e7te i\u015f d\u00fcnyas\u0131 ve Merkez Bankas\u0131 temsilcileri birbirlerini olduk\u00e7a sert ele\u015ftirmi\u015fti.<\/p>\n","protected":false},"excerpt":{"rendered":" Piyasa, TCMB mesaj\u0131 sonras\u0131 baz\u0131 kredi faizlerini politika faizine yakla\u015ft\u0131rmay\u0131 ama\u00e7layan yeni ad\u0131mlar\u0131n k\u0131sa s\u00fcrede hayata ge\u00e7mesini bekliyor …<\/p>\n","protected":false},"author":1,"featured_media":27748,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[825,936,972,2121,1422],"class_list":["post-27747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomi","tag-adim","tag-banka","tag-kredi","tag-politika","tag-tcmb"],"_links":{"self":[{"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/posts\/27747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/haberulus.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27747"}],"version-history":[{"count":1,"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/posts\/27747\/revisions"}],"predecessor-version":[{"id":27749,"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/posts\/27747\/revisions\/27749"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/media\/27748"}],"wp:attachment":[{"href":"https:\/\/haberulus.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/haberulus.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/haberulus.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}