Effects of The Central Bank of the Republic of Türkiye (CBRT) Interest Rate Decisions on BIST Bank Share Values

Yıl 2024, Cilt: 9 Sayı: 2, 57 - 68

Meltem Keskin

Öz

The study examined the impact of the interest rate decisions taken by the Central Bank of the Republic of Türkiye (CBRT) during tight or expansionary monetary policy periods on the Borsa Istanbul BIST Liquid Bank (XLBNK) index. Logistic regression analysis was used in the study. It has been found that between the periods 2014:01-2024:03, the interest rate reduction decisions announced by the CBRT positively impacted the daily closing of the XLBNK index and did not significantly affect the weekly or monthly change. It was found that there was no relationship during interest rate increase periods.

Anahtar Kelimeler

: XLBNK, Interest Rate Decisions, TCMB, Logistic Regression

Etik Beyan

Etik Beyanını gerektiren bir çalışma değildir.

Destekleyen Kurum

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Proje Numarası

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Teşekkür

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Türkiye Cumhuriyet Merkez Bankası (TCMB) Faiz Kararlarının Borsa İstanbul Banka Hisse Değerleri Üzerine Etkisi

Öz

Çalışmada, Türkiye Cumhuriyet Merkez Bankası’nın (TCMB) sıkı ya da genişletici para politikası dönemlerinde aldığı faiz kararlarının Borsa İstanbul BIST Likit Banka (XLBNK) endeksine yaptığı etki incelenmiştir. Bu çalışmanın amacı; TCMB’nın aldığı faiz indirimi veya artırımı kararlarının XLBNK endeksinde işlem gören banka hisse senetleri fiyatları arasında ilişkinin varlığını ve boyutunu 2014:01 - 2024:03 dönemleri arasında belirlemektir. Bu amaç doğrultusunda lojistik regresyon analizi kullanılmıştır. Sonuç olarak, TCMB’nın açıkladığı, faiz oranında indirime gidilmesi durumunda XLBNK endeksi günlük kapanışına pozitif yönde etki yaptığı, haftalık veya aylık değişim üzerinde anlamlı etkiye sahip olmadığı; faiz artırım dönemlerinde ise ilişki bulunmadığı bulgularına ulaşılmıştır.

Anahtar Kelimeler

XLBNK, Faiz Kararları, TCMB, Lojistik Regresyon

Proje Numarası

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Kaynakça

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