Turkey’s central bank to meet foreign investors in NY on January 11

Turkish Central Bank (TCMB) will hold an investor day on January 11th at JPMorgan’s New York headquarters. The event will start with a presentation by TCMB President Hafize Gaye Erkan on monetary policy.

Erkan will give a 45-minute presentation titled “Monetary Policy and Inflation Outlook.” Following her presentation, Finance and Treasury Minister Mehmet Şimşek will deliver a 45-minute presentation on “Fiscal Policy and Treasury’s Financing Outlook.”

The program includes an investor panel moderated by JPMorgan executives with the participation of TCMB President, Vice Presidents, and department heads. Detailed sessions will cover topics such as the inflation path, foreign exchange reserve strategy, the banking sector, and the macro-prudential framework.

At the end of the meeting, Erkan will answer questions moderated by Burak Kaynak, the Head of JPMorgan Turkey Desk.

Although the central bank regularly organizes investor meetings, the upcoming event in the U.S. will mark the first time it uses the theme of “Investor Day.”

In recent years, foreign investors had shown little interest in Turkey due to unconventional policies in the face of rising inflation. However, after the general elections in May, foreign investor sentiment started to change, and they began returning to Turkish markets.

The state domestic debt securities (DİBS) and equity portfolio owned by non-residents indicated a net inflow of $1.45 billion in the week ending December 8th, the largest weekly entry in six and a half years, according to data from the Central Bank. The DİBS portfolio of non-residents increased by $891.4 million during the week, marking the highest weekly inflow since August 2017.