Amerikan Merkez Bankası Faiz Kararları İle BIST 100 Endeksi Arasındaki İlişkinin Belirlenmesi/ Makale Türü: Araştırma Makalesi

In the United States of America, the interest rate decisions are taken by The Federal Reserve System, which serves as the Federal Reserve System in tight or expansionary monetary policy periods, In this study, the effect of the Federal Reserve System interest decisions on BIST 100 index, which is one of the main indices used in Borsa Istanbul, is examined. The data- set used in the study is gathered in period of 04.01.1988-06.08.2018. The aim of this study is to determine the existence, direction and size of the relationship between the interest rates issued by the Federal Reserve System and the stocks prices traded in Borsa Istanbul. In order to make this determination, a decision model based on classification and regression tree analysis was utilized. The effects of the Federal Reserve System interest rate changes on BIST 100 index were determined. As a result, the effect of the Federal Reserve System on the BIST 100 index was inconsiderable in the next trading day, in the next one-week trading period the effect becomes evident, and until the next Federal Reserve System interest rate issues this effect continues decreasingly.