POLİTİKA FAİZİNDEKİ DEĞİŞİMLERİN BORSA İSTANBUL 100 ENDEKSİ ÜZERİNDEKİ ETKİSİNİN OLAY ANALİZİ İLE İNCELENMESİ

Abstract

Central banks use monetary policy tools to ensure financial stability and price stability. Policy interest rate is one of the most effective tools of monetary policy. The aim of this study is to examine the effect of policy interest rates applied by the The Central Bank of the Republic of Turkey (TCMB) on Borsa İstanbul between 2010-2020. The effect of interest rate increase or cut decisions on the BIST100 index was analyzed by the event study method. According to the results of the analysis, it has been determined that interest rate cut decisions have a significant and negative effect on the BIST100 index, while interest rate increase decisions have a negative effect, but this effect is non-significant.