Daiwa Securities ekonomisti Kenji Yamamoto, Japonya Merkez Bankas\u0131\u2019n\u0131n (BOJ) eyl\u00fcldeki art\u0131\u015fla para politikas\u0131nda yeni bir evreye ge\u00e7ti\u011fini ve bir sonraki ad\u0131m\u0131n aral\u0131kta gelebilece\u011fini d\u00fc\u015f\u00fcn\u00fcyordu; banka ayr\u0131ca nisan 2027\u2019de bir art\u0131\u015f daha bekledi\u011fini ve faizin kademeli \u015fekilde yakla\u015f\u0131k y\u00fczde 2 seviyesine yakla\u015fabilece\u011fini \u00f6ng\u00f6r\u00fcyordu.<\/p>\n
BOJ Ba\u015fkan\u0131 Kazuo Ueda ise son toplant\u0131 sonras\u0131 hedefin art\u0131k enflasyonu y\u00fczde 2\u2019ye ta\u015f\u0131mak de\u011fil, orada tutmak oldu\u011funu s\u00f6ylemi\u015fti; Daiwa\u2019ya g\u00f6re bu, yukar\u0131 ve a\u015fa\u011f\u0131 y\u00f6nl\u00fc enflasyon risklerinin e\u015fit bi\u00e7imde de\u011ferlendirildi\u011fi anlam\u0131na geliyordu.<\/p>\n
Ueda, art arda faiz art\u0131\u015flar\u0131 ya da 50 baz puanl\u0131k bir hamleyi tamamen d\u0131\u015flamam\u0131\u015f, Daiwa ise daha \u00e7ok \u00fc\u00e7 ayl\u0131k aral\u0131klarla ilerleyen bir s\u0131k\u0131la\u015fma patikas\u0131 g\u00f6rm\u00fc\u015ft\u00fc. Yenin sert \u015fekilde zay\u0131flamas\u0131 da art\u0131\u015flar\u0131n \u00f6ne \u00e7ekilmesine yol a\u00e7abilecek unsurlardan biri olarak de\u011ferlendirilmi\u015fti.<\/p>\n
Goldman Sachs da USD\/JPY tahminlerini \u00fc\u00e7 ay i\u00e7in 158, alt\u0131 ay i\u00e7in 155 ve 12 ay i\u00e7in 150\u2019ye \u00e7ekti; \u00f6nceki hedefler s\u0131ras\u0131yla 162, 163 ve 165 idi. Banka, Japonya\u2019daki daha s\u0131k\u0131 para politikas\u0131 ve Japon yat\u0131r\u0131mc\u0131lar\u0131n paralar\u0131n\u0131 yeniden \u00fclkeye d\u00f6nd\u00fcrme ihtimalinin yen i\u00e7in tabloyu g\u00fc\u00e7lendirdi\u011fini belirtti.<\/p>\n
Goldman, Temmuz ay\u0131nda yaln\u0131zca daha agresif bir BOJ\u2019un yenin d\u00fc\u015f\u00fc\u015f\u00fcn\u00fc durdurabilece\u011fini s\u00f6ylemi\u015fti; \u015fimdi ise BOJ\u2019nin daha agresif hale geldi\u011fini ve bunun yukar\u0131 y\u00f6nl\u00fc enflasyon etkisini s\u0131n\u0131rlayabilece\u011fini d\u00fc\u015f\u00fcn\u00fcyor. Banka ayr\u0131ca uzun yen pozisyonlar\u0131n\u0131 resesyon riskine kar\u015f\u0131 \u00f6zellikle uygun bir koruma olarak g\u00f6r\u00fcyor ve Tokyo\u2019dan gelebilecek yeni m\u00fcdahalenin dolar\u0131n kazan\u00e7lar\u0131n\u0131 s\u0131n\u0131rlayabilece\u011fini \u00f6ng\u00f6r\u00fcyor.<\/p>\n
K\u0131sa vadede ise Goldman, dolara do\u011frudan kar\u015f\u0131 pozisyon almak yerine euroyu yen kar\u015f\u0131s\u0131nda satmay\u0131 tercih ediyor. Bankaya g\u00f6re ABD 10 y\u0131ll\u0131k tahvil faizlerinin y\u00fczde 5,2\u2019nin \u00fczerinde seyretmesi, USD\/JPY\u2019de dolar\u0131n yak\u0131n vadede destek bulmas\u0131n\u0131 sa\u011fl\u0131yor.<\/p>\n
\ud83d\udca1 Bilgi Notu:<\/strong> \u201cBaz puan\u201d faiz oranlar\u0131ndaki \u00e7ok k\u00fc\u00e7\u00fck de\u011fi\u015fimi anlat\u0131r; 50 baz puan, faizin 0,50 puan art\u0131r\u0131lmas\u0131 demektir. \u201cUSD\/JPY\u201d ise dolar ile yen aras\u0131ndaki kurdur, yani bir dolar\u0131n ka\u00e7 yen etti\u011fini g\u00f6sterir.<\/p>\n \ud83d\udcca Piyasa Etkisi:<\/strong> BOJ\u2019nin daha s\u0131k\u0131 para politikas\u0131na ge\u00e7mesi ve yeni faiz art\u0131\u015flar\u0131n\u0131n g\u00fcndemde kalmas\u0131 yen i\u00e7in destekleyici olabilir. Bu durum dolar\/yen paritesinde a\u015fa\u011f\u0131 y\u00f6nl\u00fc bask\u0131 yaratabilir; ancak ABD tahvil faizlerinin y\u00fcksek kalmas\u0131 dolar\u0131n yak\u0131n vadede g\u00fcc\u00fcn\u00fc korumas\u0131na da yard\u0131mc\u0131 olabilir.<\/p>\n","protected":false},"excerpt":{"rendered":" Daiwa Securities ekonomisti Kenji Yamamoto, Japonya Merkez Bankas\u0131\u2019n\u0131n (BOJ) eyl\u00fcldeki art\u0131\u015fla para politikas\u0131nda yeni bir evreye ge\u00e7ti\u011fini ve bir sonraki<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","fxk_merge_backup":"[{\"ts\":\"2026-09-25 01:31:07\",\"content\":\"\\u26a0\\ufe0f \\u015e\\u00dcPHEL\\u0130 M\\u00dcKERRER \\u0130\\u00c7ER\\u0130K \\u2014 Sistem bu haberi, yak\\u0131n zamanda yay\\u0131nlanan\\\/taslaktaki ba\\u015fka bir haberle (rakamsal veya anlamsal olarak) e\\u015fle\\u015ftirdi (bkz. log). Yay\\u0131nlamadan \\u00f6nce kontrol edin, m\\u00fckerrer de\\u011filse bu uyar\\u0131 sat\\u0131r\\u0131n\\u0131 silip yay\\u0131nlayabilirsiniz.\\nDaiwa Securities ekonomisti Kenji Yamamoto, Japonya Merkez Bankas\\u0131\\u2019n\\u0131n (BOJ) eyl\\u00fcldeki art\\u0131\\u015fla birlikte para politikas\\u0131nda yeni bir evreye ge\\u00e7ti\\u011fini ve bir sonraki ad\\u0131m\\u0131n aral\\u0131kta gelebilece\\u011fini d\\u00fc\\u015f\\u00fcn\\u00fcyor. Banka, buna ard\\u0131ndan nisan 2027\\u2019de bir art\\u0131\\u015f daha eklenebilece\\u011fini ve faizin kademeli \\u015fekilde yakla\\u015f\\u0131k y\\u00fczde 2 seviyesine yakla\\u015fabilece\\u011fini \\u00f6ng\\u00f6r\\u00fcyor.\\nBOJ Ba\\u015fkan\\u0131 Kazuo Ueda, son toplant\\u0131 sonras\\u0131 yapt\\u0131\\u011f\\u0131 a\\u00e7\\u0131klamada hedefin art\\u0131k enflasyonu y\\u00fczde 2\\u2019ye ta\\u015f\\u0131mak de\\u011fil, orada tutmak oldu\\u011funu s\\u00f6yledi. Daiwa\\u2019ya g\\u00f6re bu yakla\\u015f\\u0131m, yukar\\u0131 ve a\\u015fa\\u011f\\u0131 y\\u00f6nl\\u00fc enflasyon risklerinin e\\u015fit bi\\u00e7imde de\\u011ferlendirilmesi anlam\\u0131na geliyor.\\nUeda, art arda faiz art\\u0131\\u015flar\\u0131 ya da 50 baz puanl\\u0131k bir hamleyi tamamen d\\u0131\\u015flamad\\u0131; ancak Daiwa daha \\u00e7ok \\u00fc\\u00e7 ayl\\u0131k aral\\u0131klarla ilerleyen bir s\\u0131k\\u0131la\\u015fma patikas\\u0131 g\\u00f6r\\u00fcyor. Yenin sert \\u015fekilde zay\\u0131flamas\\u0131, art\\u0131\\u015flar\\u0131n \\u00f6ne \\u00e7ekilmesine yol a\\u00e7abilecek unsurlardan biri olarak de\\u011ferlendiriliyor.\\n\\ud83d\\udcca Piyasa Etkisi: BOJ\\u2019nin s\\u0131k\\u0131la\\u015fmay\\u0131 s\\u00fcrd\\u00fcrme sinyali, Japon tahvil getirilerinde yukar\\u0131 y\\u00f6nl\\u00fc bask\\u0131y\\u0131 koruyabilir. Yenin zay\\u0131flamas\\u0131 halinde faiz art\\u0131\\u015f\\u0131 beklentileri \\u00f6ne \\u00e7ekilebilir; bu da \\u00f6zellikle JPY \\u00e7aprazlar\\u0131nda oynakl\\u0131\\u011f\\u0131 art\\u0131rabilir.\\n\"}]","footnotes":""},"categories":[8],"tags":[90,2385,157],"class_list":["post-22866","post","type-post","status-publish","format-standard","hentry","category-son-dakikalar","tag-boj","tag-faiz-artirimi","tag-yen"],"_links":{"self":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/22866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22866"}],"version-history":[{"count":2,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/22866\/revisions"}],"predecessor-version":[{"id":22905,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/22866\/revisions\/22905"}],"wp:attachment":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}