3 November 2026
Annual consumer inflation in Türkiye stood at 29.77 percent, a shade above the 29.73 percent of the preceding month, on data released by the Turkish Statistical Institute (TÜİK).
Consumer prices rose 2.58 percent over the month, more than the 2.4 percent monthly increase that had been looked for.
The annual rate has eased from 32.87 percent a year earlier.
The 12-month moving average inflation rate stood at 31.23 percent.
The steepest annual rise was in education at 48.86 percent, followed by health at 43.29 percent.
Prices of food and non-alcoholic beverages climbed 27.73 percent, while transportation rose 36.39 percent.
Clothing and footwear posted the lowest annual rise among the expenditure groups at 13.38 percent.
Markets will now turn their attention to the next meeting of the Monetary Policy Committee of the central bank.
Annual inflation:
29.77 percent
Monthly rise:
2.58 percent
12-month moving average:
31.23 percent
Agency:
Turkish Statistical Institute (TÜİK)
Why it matters for exams: The durable facts are that the Turkish Statistical Institute (TÜİK) compiles and releases consumer price data for Türkiye, and that annual consumer inflation in this reading was 29.77 percent with education the fastest rising group.
Kerala PSCUPSC
30 October 2026
The Organization of Turkic States (OTS) adopted a 163-point declaration at the 13th summit of its Council of Heads of State, held in Ankara, and Türkiye took over the rotating chairpersonship of the grouping.
The document, called the Ankara Declaration, was adopted at a summit chaired by President Recep Tayyip Erdoğan.
Taking part were leaders and senior officials of Kazakhstan, Kyrgyzstan and Uzbekistan, of Azerbaijan and Turkmenistan, and of the Turkish Republic of Northern Cyprus (TRNC).
The declaration proposed an OTS Defense Industry College program hosted by Türkiye, and faster consultations on an OTS Cybersecurity Council.
It backed the Trans-Caspian International East-West Middle Corridor and better integration with the Baku-Tbilisi-Kars railway.
The leaders welcomed the finishing of the production phase of the 12U OTS-SAT CubeSat, developed jointly, and asked for its launch to be hastened.
Uzbekistan will host the 14th summit of the grouping.
The Ankara Declaration was signed in Turkish, Azerbaijani, Kazakh, Kyrgyz and Uzbek.
Summit:
13th Council of Heads of State summit
Host city:
Ankara
Points in the declaration:
163
Next host:
Uzbekistan
Why it matters for exams: The durable facts are that the 13th Council of Heads of State summit of the Organization of Turkic States met in Ankara, that Türkiye holds the rotating chairpersonship, that the member states are Türkiye, Kazakhstan, Kyrgyzstan, Uzbekistan, Azerbaijan and Turkmenistan with the TRNC taking part, and that Uzbekistan hosts the 14th summit.
Kerala PSCUPSC
22 October 2026
Canada and Turkiye launched a Canada-Turkiye Strategic Partnership at a ceremony held at the Presidential Complex in Ankara.
The partnership is backed by a three-year action plan resting on four pillars: trade and investment, defence and security, energy, and people-to-people ties.
Canadian Prime Minister Mark Carney held talks with President Recep Tayyip Erdogan before the announcement.
The two leaders agreed to work toward the successful conclusion of a Canada-Turkiye Free Trade Agreement.
Erdogan said negotiations on that trade agreement would begin before the end of the year.
Carney was also to travel to Istanbul for talks with Turkish business groups.
The two countries are allies within NATO.
Framework:
Canada-Turkiye Strategic Partnership
Action plan:
three-year action plan
Venue:
Presidential Complex in Ankara
Trade goal:
Canada-Turkiye Free Trade Agreement
Why it matters for exams: The durable facts are the name of the Canada-Turkiye Strategic Partnership, its three-year action plan and four pillars, the Presidential Complex in Ankara as the venue, and the agreed goal of a Canada-Turkiye Free Trade Agreement between two NATO allies.
Kerala PSCUPSC
4 November 2026
The European Commission adopted its 2026 Enlargement Package, the yearly set of documents in which it explains its policy on EU enlargement.
At the core of the package is a Communication on enlargement, which takes stock of developments over the past year.
Alongside it come the country reports, including the Türkiye Report 2026, in which Commission services set out their assessment of reform progress.
Reports were issued for the candidate countries and potential candidates, among them Albania, Bosnia and Herzegovina, Georgia, Kosovo, Moldova, Montenegro, North Macedonia, Serbia and Ukraine.
The Commission said the package shows that sustained reform effort translates into concrete progress towards EU membership.
It noted that Montenegro is close to the final stage of its accession process.
The 2026 Communication on EU Enlargement Policy came from the Directorate-General for Enlargement and Eastern Neighbourhood.
Package:
2026 Enlargement Package
Adopted on:
4 November 2026
Country report:
Türkiye Report 2026
Issuing institution:
European Commission
Why it matters for exams: The durable facts are that the European Commission is the institution that adopts the yearly enlargement package, that the package carries a country report on Türkiye, that Türkiye is an EU candidate country, and that Montenegro was placed closest to the final stage of accession.
Kerala PSCUPSC
23 October 2026
The Foreign Office of Pakistan said the country has finished ratifying the Mecca Joint Defense Agreement made with Türkiye and Saudi Arabia.
Saudi Arabia had also completed the process, while Türkiye was following its own domestic approval procedures, spokesperson Sajjad Haider Khan said.
Ankara submitted the agreement to parliament for approval.
The three parties continue to discuss the agreement, its ratification and its operationalization, he said.
Those talks have included meetings of the Strategic Political and Defense Committee.
The agreement was signed at Mecca by President Recep Tayyip Erdoğan, by Prime Minister Shehbaz Sharif of Pakistan and by Saudi Crown Prince and Prime Minister Mohammed bin Salman.
The pact treats an external armed attack on any signatory as an attack on all three, and provides for defense industry cooperation including technology sharing and joint production.
Pakistan has described the pact as defensive and consistent with the U.N. Charter.
Agreement:
Mecca Joint Defense Agreement
Parties:
Türkiye, Saudi Arabia, Pakistan
Joint body:
Strategic Political and Defense Committee
Core clause:
attack on any signatory treated as attack on all three
Why it matters for exams: The durable facts are the name Mecca Joint Defense Agreement, its three parties Türkiye, Saudi Arabia and Pakistan, the city where it was signed, and its collective defence clause treating an attack on one signatory as an attack on all three.
Kerala PSCUPSC
1 October 2026
The Central Bank of the Republic of Türkiye announced changes in its reserve requirement practice to support macrofinancial stability and bank liquidity management.
The eight-week growth limit for SME loans went up from 4.5% to 5%, and the ratios for TRY required reserves held in blocked accounts were reduced.
The step was issued as a Press Release on Macroprudential Framework, separate from the interest rate decisions of the bank.
Reserve requirements are the share of deposits and liabilities that banks must park with the central bank, and they work as a quantity tool rather than a price tool.
By tying growth limits to categories of credit, the bank steers lending towards small and medium enterprises while holding back faster-growing segments.
The measures sit alongside the policy rate in the toolkit the bank uses to steer credit conditions.
SME loan growth limit:
raised from 4.5% to 5%
Blocked account ratios:
lowered
Instrument:
reserve requirement practice
Issuing bank:
Central Bank of the Republic of Türkiye
Why it matters for exams: The durable fact is that the Central Bank of the Republic of Türkiye uses reserve requirements and credit growth limits as macroprudential tools distinct from the policy rate, with the SME loan growth limit now set at 5%.
Kerala PSCUPSC
30 October 2026
The Central Bank of the Republic of Türkiye published the record of its Monetary Policy Committee meeting, setting out the data behind the rate cut to 36 percent.
The gross international reserves of the CBRT stood at USD 169.1 billion, down by USD 9.6 billion over the preceding weeks.
The five-year credit default swap (CDS) premium of Türkiye stood at 251 basis points.
The current account balance recorded a monthly surplus of USD 4.1 billion, while the 12-month cumulative current account deficit widened to USD 42.1 billion.
Travel revenues reached USD 60.1 billion in 12-month cumulative terms and the services balance surplus stood at USD 63.9 billion.
Seasonally adjusted employment stood at 32.5 million people.
The global growth index weighted by the export shares of Türkiye trade partners is projected to rise by 1.6% this year and 2.5% next year.
The Committee said the latest data indicate that domestic demand remains weak.
Gross international reserves:
USD 169.1 billion
12-month current account deficit:
USD 42.1 billion
Travel revenues:
USD 60.1 billion
Five-year CDS premium:
251 basis points
Why it matters for exams: The durable facts are that the Central Bank of the Republic of Türkiye publishes the record of each Monetary Policy Committee meeting, that gross international reserves stood at USD 169.1 billion, and that the 12-month cumulative current account deficit was USD 42.1 billion with travel revenues of USD 60.1 billion.
Kerala PSCUPSC
22 October 2026
A cut of 100 basis points has taken the one-week repo auction rate, which serves as the policy rate, to 36 percent from 37 percent.
The step came from the Monetary Policy Committee of the Central Bank of the Republic of Türkiye.
The overnight lending rate of the Central Bank now stands at 39 percent, down from 40 percent, and the overnight borrowing rate at 34.5 percent, down from 35.5 percent.
Fresh price data and leading indicators point to a slower underlying inflation trend, the Committee said, with domestic demand still weak.
High energy prices, which it tied to geopolitical tensions, were named as the chief upside risk ahead.
A tight stance stays in force, the Committee said, until price stability is achieved.
Future moves will be judged meeting by meeting, with their size and timing set each time.
Governor Yaşar Fatih Karahan chaired the Committee, which is working towards a 5 percent inflation target over the medium term.
Policy rate:
36 percent
Earlier policy rate:
37 percent
Overnight lending rate:
39 percent
Medium-term inflation target:
5 percent
Governor:
Yaşar Fatih Karahan
Why it matters for exams: The durable facts are that the policy rate of the Central Bank of the Republic of Türkiye is the one-week repo auction rate, that the rate now stands at 36 percent, that the Governor is Yaşar Fatih Karahan, and that the medium-term inflation target is 5 percent.
Kerala PSCUPSC
10 September 2026
A 13-point Trabzon Ocean Call to Action was put out by Türkiye at the Seas and Oceans Summit, held in Trabzon within the COP31 process.
Prof. Halil Hasar, who is COP31 Chief Climate Diplomacy Officer and Director of Climate Change, read it out at the closing session.
Chairing that session was Murat Kurum, the COP31 President-Designate, who is also Minister of Environment, Urbanisation and Climate Change; journalists from 17 nations attended.
The text says ocean work will be driven on through COP31 in Antalya, with Türkiye holding the COP31 Presidency and Australia serving as President of Negotiations.
Full delivery of the Paris Agreement is held to be essential if climate risks are to be curbed.
The Kunming-Montreal Global Biodiversity Framework is to be put into effect together with the Convention on Biological Diversity, with its ocean targets built in.
Parties are urged to build ocean-based steps for mitigation, adaptation and resilience into their Nationally Determined Contributions (NDCs) and into National Adaptation Plans (NAPs).
The COP31 Climate Action Agenda puts oceans and seas at its heart.
Document:
13-point Trabzon Ocean Call to Action
COP31 host city:
Antalya
COP31 President-Designate:
Murat Kurum
President of Negotiations:
Australia
Why it matters for exams: The durable facts are that COP31 of the UN Framework Convention on Climate Change is being hosted by Türkiye at Antalya, that Murat Kurum is the COP31 President-Designate, that Australia serves as President of Negotiations, and that the Seas and Oceans Summit at Trabzon produced the 13-point Trabzon Ocean Call to Action.
Kerala PSCUPSC
Background
The 13th summit that handed Türkiye the chairpersonship of the Organization of Turkic States (OTS) also set out the standing machinery the grouping works through.
Investment flows through the Turkic Investment Fund, which member states agreed to put more money into.
On energy the grouping leans on the Baku-Tbilisi-Ceyhan oil pipeline and the Southern Gas Corridor, alongside regional green energy projects.
On transport it rests on the Trans-Caspian International East-West Middle Corridor, the Baku-Tbilisi-Kars railway, the Zangezur Corridor and the China-Kyrgyzstan-Uzbekistan railway.
In technology the members work on the Digital Silk Road initiative and the jointly developed 12U OTS-SAT CubeSat.
Member states agreed to simplify customs procedures and expand digital trade.
The Turkish Republic of Northern Cyprus (TRNC) takes part in the grouping and the members treat Turkish Cypriots as part of the Turkic world.
Finance arm:
Turkic Investment Fund
Oil pipeline:
Baku-Tbilisi-Ceyhan oil pipeline
Rail link:
Baku-Tbilisi-Kars railway
Joint satellite:
12U OTS-SAT CubeSat
Why it matters for exams: The durable facts are the standing institutions of the Organization of Turkic States: the Turkic Investment Fund for finance, the Baku-Tbilisi-Ceyhan oil pipeline and Southern Gas Corridor for energy, and the Trans-Caspian International East-West Middle Corridor with the Baku-Tbilisi-Kars railway for transport.
Kerala PSCUPSC
Background
The recent cut in the policy rate of Türkiye was decided by the Central Bank of the Republic of Türkiye, and the standing rules of that bank are worth knowing.
The bank gives price stability as its main objective, to be achieved and then maintained.
It defines price stability as an inflation rate low enough to be ignored when economic choices are made.
The bank picks its own monetary policy and its own instruments, a feature it describes as instrument independence.
Authority to print and issue banknotes has been handed to the bank by the Grand National Assembly of Türkiye, with no time limit set on that delegation.
The head office of the bank is in Ankara, which is the capital of Türkiye.
The bank also runs market operations, treasury operations, reserve management and payment systems.
Head office:
Ankara
Stated objective:
price stability
Banknote authority:
delegated by the Grand National Assembly of Türkiye
Policy independence:
instrument independence
Why it matters for exams: The durable facts are that price stability is the stated main objective of the Central Bank of the Republic of Türkiye, that it enjoys instrument independence, that the Grand National Assembly of Türkiye has delegated banknote issue to it indefinitely, and that its head office is in Ankara.
Kerala PSCUPSC
Background
The country report on Türkiye is one piece of a yearly cycle, and that cycle has a fixed shape worth knowing.
Once a year the European Commission brings out its Enlargement Package, a bundle of papers that lays out how it sees EU enlargement.
Sitting at the centre of that bundle is a Communication on enlargement, which looks back over the year just gone.
Around it come the reports, where Commission services judge in detail how far reform has moved in each candidate country and potential candidate.
Each one carries recommendations and guidance on the reform priorities for that country.
A separate Communication, titled Enhancing the accession process - A credible EU perspective for the Western Balkans, sought four changes: greater predictability, a more dynamic process, a stronger political steer and more credibility.
The Commission also publishes, country by country, an overview of the state of play of EU accession negotiations, plus a step-by-step explanation of the process.
Adopting institution:
European Commission
Yearly output:
Enlargement Package
Core document:
Communication on enlargement
Standing of Türkiye:
candidate country
Why it matters for exams: The durable facts are that the European Commission adopts an Enlargement Package every year, that its core is a Communication on enlargement, that country reports assess candidate countries and potential candidates with reform recommendations, and that Türkiye is assessed in this cycle as a candidate country.
Kerala PSCUPSC