Monthly CPI print for August. Released around the 3rd of the month at 10:00 Ankara time.
Upcoming
27 key official events aheadEighth scheduled 2026 MPC meeting (counting from January). Policy-rate decision and statement published at 14:00 Ankara time.
Monthly CPI print for September; the 3rd falls on a weekend so the release shifts to the first working day. Published at 10:00 Ankara time.
Penultimate 2026 MPC meeting. Policy-rate decision and statement published at 14:00 Ankara time.
Monthly CPI print for October. Released around the 3rd of the month at 10:00 Ankara time.
Final quarterly Inflation Report of 2026, presented at a Governor's briefing. Sets out the bank's updated inflation forecasts heading into 2027.
Monthly unemployment and employment data for October, released in the mid-month window (15th falls on a weekend, shifting to the next working day) at 10:00 Ankara time.
Second of the CBRT's two semi-annual Financial Stability Reports for 2026, assessing risks in the banking system, credit, FX and external balances.
Monthly CPI print for November. Released around the 3rd of the month at 10:00 Ankara time.
Final 2026 MPC meeting. Policy-rate decision and statement published at 14:00 Ankara time; the last rate-setting decision of the year.
Annual monetary-policy framework document for the coming year, which also publishes the full 2027 schedule of MPC meeting and report dates. Sets out the inflation target and policy approach for 2027.
Third-quarter gross domestic product print. TÜİK publishes quarterly GDP roughly 80 days after the quarter ends; the Q3 release lands in late December. (provisional date pending TÜİK release calendar)
Monthly CPI print for December and the full-year 2026 inflation figure; 3 January falls on a weekend so the release shifts to the first working day. Published at 10:00 Ankara time.
First MPC decision of 2027, now listed in the CBRT's official meetings and reports calendar.
First MPC meeting of 2027, expected in the fourth week of January in line with the CBRT's usual cadence. (provisional date; the official 2027 schedule is published with the December 2026 monetary-policy text)
Monthly CPI print for January 2027. Released around the 3rd of the month at 10:00 Ankara time. (provisional; based on TÜİK's standard ~3rd-of-month cadence)
First quarterly Inflation Report of 2027, presented at a Governor's briefing with updated inflation forecasts. (provisional date; the 2026-I report was published on 12 February 2026 and the exact 2027 date is confirmed with the December 2026 schedule)
Official CBRT 2027 meetings and reports calendar.
Official CBRT 2027 meetings and reports calendar.
AKP signals a possible referendum on a new constitution, linked to the renewed Kurdish peace process and a potential reset of presidential term limits. Targeted for autumn 2026 or, more likely, spring 2027. (provisional; no official date called, exact date is speculative)
Official CBRT 2027 meetings and reports calendar.
Official CBRT 2027 meetings and reports calendar.
Official CBRT 2027 meetings and reports calendar.
Official CBRT 2027 meetings and reports calendar.
Official CBRT 2027 meetings and reports calendar.
The Assembly's standard timetable begins the summer recess on 1 July, subject to a TBMM decision to continue sitting. (provisional; the Assembly can alter the recess timetable)
Recent events
tr45Turkey Approves Record Budget for Islamist Maarif Foundation Amid Economic Strain
Turkish President Erdogan has allocated a record 7.51 billion lira budget to the Islamist Maarif Foundation in 2026, despite the country's economic difficulties. The foundation, which is an extension of Erdogan's influence abroad, is involved in overseas education and pro-government messaging. The budget increase is the tenth consecutive annual increase and is intended for expanding the foundation's educational and promotional activities overseas, including opening new schools, awarding scholarships, and funding research and development.
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Turkey Approves Record Budget for Islamist Maarif Foundation Amid Economic Strain
Turkish President Erdogan has allocated a record 7.51 billion lira budget to the Islamist Maarif Foundation in 2026, despite the country's economic difficulties. The foundation, which is an extension of Erdogan's influence abroad, is involved in overseas education and pro-government messaging. The budget increase is the tenth consecutive annual increase and is intended for expanding the foundation's educational and promotional activities overseas, including opening new schools, awarding scholarships, and funding research and development.
Turkish President Erdogan has allocated a record 7.51 billion lira budget to the Islamist Maarif Foundation in 2026, despite the country's economic difficulties. The foundation, which is an extension of Erdogan's influence abroad, is involved in overseas education and pro-government messaging. The budget increase is the tenth consecutive annual increase and is intended for expanding the foundation's educational and promotional activities overseas, including opening new schools, awarding scholarships, and funding research and development.
tr43Turkish Defense Firms Achieve Top Rankings in Global Defense News Top 100
Five Turkish defense companies, including Aselsan leading the way, have been ranked in the Defense News Top 100 list for 2025, with Aselsan maintaining its top position among Turkish companies. ARCA made a strong entry into the list for the first time, while Roketsan achieved a major leap. The combined defense revenue of the five Turkish companies on the list reached $14.9 billion, highlighting the growing strength of the Turkish defense industry on the global stage.
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Turkish Defense Firms Achieve Top Rankings in Global Defense News Top 100
Five Turkish defense companies, including Aselsan leading the way, have been ranked in the Defense News Top 100 list for 2025, with Aselsan maintaining its top position among Turkish companies. ARCA made a strong entry into the list for the first time, while Roketsan achieved a major leap. The combined defense revenue of the five Turkish companies on the list reached $14.9 billion, highlighting the growing strength of the Turkish defense industry on the global stage.
Five Turkish defense companies, including Aselsan leading the way, have been ranked in the Defense News Top 100 list for 2025, with Aselsan maintaining its top position among Turkish companies. ARCA made a strong entry into the list for the first time, while Roketsan achieved a major leap. The combined defense revenue of the five Turkish companies on the list reached $14.9 billion, highlighting the growing strength of the Turkish defense industry on the global stage.
tr41Turkey's Efforts to End PKK Terrorism: Strategic Shift and Legal Framework
Turkey's domestic-regional transformation has led to significant progress in ending PKK terrorism. The parliament has adopted a legal framework for disarmament and reintegration, significantly reducing the PKK's presence in Türkiye and narrowing its operational space in Iraq and Syria. The PKK's armed presence inside Türkiye has been sharply reduced, and its room for maneuver in Iraq has been narrowed. The YPG has announced its dissolution as an independent military structure in Syria, further weakening the PKK's regional presence.
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Turkey's Efforts to End PKK Terrorism: Strategic Shift and Legal Framework
Turkey's domestic-regional transformation has led to significant progress in ending PKK terrorism. The parliament has adopted a legal framework for disarmament and reintegration, significantly reducing the PKK's presence in Türkiye and narrowing its operational space in Iraq and Syria. The PKK's armed presence inside Türkiye has been sharply reduced, and its room for maneuver in Iraq has been narrowed. The YPG has announced its dissolution as an independent military structure in Syria, further weakening the PKK's regional presence.
Turkey's domestic-regional transformation has led to significant progress in ending PKK terrorism. The parliament has adopted a legal framework for disarmament and reintegration, significantly reducing the PKK's presence in Türkiye and narrowing its operational space in Iraq and Syria. The PKK's armed presence inside Türkiye has been sharply reduced, and its room for maneuver in Iraq has been narrowed. The YPG has announced its dissolution as an independent military structure in Syria, further weakening the PKK's regional presence.
tr40Ferry Disaster in Cyprus: Turkey Joins Search Efforts for Missing
A ferry capsized off the coast of northern Cyprus, resulting in a tragic loss of life and leaving 20 people missing. Turkey has sent a deep-sea search vessel, TCG Isin, to Cyprus to assist in the search efforts. The ferry, Filo Jet, sank with 267 people aboard, with 241 rescued and 20 still missing. The search for the ferry's black box is crucial to understanding the cause of the disaster. The captain and seven crew members have been detained as an inquiry into the tragedy is underway. International sympathy has been expressed, with the founder of easyJet offering €260,000 in support for the families of the deceased and missing.
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Ferry Disaster in Cyprus: Turkey Joins Search Efforts for Missing
A ferry capsized off the coast of northern Cyprus, resulting in a tragic loss of life and leaving 20 people missing. Turkey has sent a deep-sea search vessel, TCG Isin, to Cyprus to assist in the search efforts. The ferry, Filo Jet, sank with 267 people aboard, with 241 rescued and 20 still missing. The search for the ferry's black box is crucial to understanding the cause of the disaster. The captain and seven crew members have been detained as an inquiry into the tragedy is underway. International sympathy has been expressed, with the founder of easyJet offering €260,000 in support for the families of the deceased and missing.
A ferry capsized off the coast of northern Cyprus, resulting in a tragic loss of life and leaving 20 people missing. Turkey has sent a deep-sea search vessel, TCG Isin, to Cyprus to assist in the search efforts. The ferry, Filo Jet, sank with 267 people aboard, with 241 rescued and 20 still missing. The search for the ferry's black box is crucial to understanding the cause of the disaster. The captain and seven crew members have been detained as an inquiry into the tragedy is underway. International sympathy has been expressed, with the founder of easyJet offering €260,000 in support for the families of the deceased and missing.
tr39Shanghai Cooperation Organisation Summit in Bishkek Highlights Eurasian Ties and Alliances
The Shanghai Cooperation Organisation summit in Bishkek, attended by leaders from 21 nations including China, Russia, and Turkey, focused on strengthening economic and political ties in a multipolar Eurasia. Discussions covered the impact of wars on the global order, the SCO's role as an alternative to a Western-led order, and the establishment of a SCO Development Fund and an Investment Fund for major projects. Bilateral meetings were held, and agreements were signed, emphasizing cooperation and friendship between participating nations, while the event also highlighted regional security and economic development, as previously mentioned.
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Shanghai Cooperation Organisation Summit in Bishkek Highlights Eurasian Ties and Alliances
The Shanghai Cooperation Organisation summit in Bishkek, attended by leaders from 21 nations including China, Russia, and Turkey, focused on strengthening economic and political ties in a multipolar Eurasia. Discussions covered the impact of wars on the global order, the SCO's role as an alternative to a Western-led order, and the establishment of a SCO Development Fund and an Investment Fund for major projects. Bilateral meetings were held, and agreements were signed, emphasizing cooperation and friendship between participating nations, while the event also highlighted regional security and economic development, as previously mentioned.
The Shanghai Cooperation Organisation summit in Bishkek, attended by leaders from 21 nations including China, Russia, and Turkey, focused on strengthening economic and political ties in a multipolar Eurasia. Discussions covered the impact of wars on the global order, the SCO's role as an alternative to a Western-led order, and the establishment of a SCO Development Fund and an Investment Fund for major projects. Bilateral meetings were held, and agreements were signed, emphasizing cooperation and friendship between participating nations, while the event also highlighted regional security and economic development, as previously mentioned.
tr38Turkey's Efforts to Broker New Black Sea Grain Deal
Turkey's Foreign Minister Hakan Fidan is actively working to broker a new agreement between Russia and Ukraine for safer grain shipments through the Black Sea, following the withdrawal of Russia from the previous Black Sea Grain Initiative. This effort aims to address maritime security and global food supplies concerns. Turkey has received appeals from multiple countries worried about grain supply disruptions, and Fidan has warned of the escalating destructiveness of the ongoing war. Ankara's role in brokering the 2022 Black Sea Grain Initiative with the United Nations is being revisited due to renewed concerns over Black Sea navigation, amidst attacks on vessels and maritime infrastructure.
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Turkey's Efforts to Broker New Black Sea Grain Deal
Turkey's Foreign Minister Hakan Fidan is actively working to broker a new agreement between Russia and Ukraine for safer grain shipments through the Black Sea, following the withdrawal of Russia from the previous Black Sea Grain Initiative. This effort aims to address maritime security and global food supplies concerns. Turkey has received appeals from multiple countries worried about grain supply disruptions, and Fidan has warned of the escalating destructiveness of the ongoing war. Ankara's role in brokering the 2022 Black Sea Grain Initiative with the United Nations is being revisited due to renewed concerns over Black Sea navigation, amidst attacks on vessels and maritime infrastructure.
Turkey's Foreign Minister Hakan Fidan is actively working to broker a new agreement between Russia and Ukraine for safer grain shipments through the Black Sea, following the withdrawal of Russia from the previous Black Sea Grain Initiative. This effort aims to address maritime security and global food supplies concerns. Turkey has received appeals from multiple countries worried about grain supply disruptions, and Fidan has warned of the escalating destructiveness of the ongoing war. Ankara's role in brokering the 2022 Black Sea Grain Initiative with the United Nations is being revisited due to renewed concerns over Black Sea navigation, amidst attacks on vessels and maritime infrastructure.
tr37Turkey, Pakistan, and Saudi Arabia Strengthen Defense Cooperation under Mecca Agreement
Turkey, Pakistan, and Saudi Arabia have agreed to enhance their defense cooperation under the Mecca Agreement, establishing a permanent secretariat in Saudi Arabia to support coordination and expand defense industry collaboration. This move aims to bolster collective deterrence and regional security, emphasizing support for sustainable peace and stability. The agreement was signed during a meeting of the Strategic Political and Defence Committee in Istanbul, marking a significant step in the institutionalization of their defense cooperation. The secretariat will be led by a secretary-general from Pakistan for a three-year term, and the countries will also strengthen the capabilities and cohesion of their armed forces through joint activities.
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Turkey, Pakistan, and Saudi Arabia Strengthen Defense Cooperation under Mecca Agreement
Turkey, Pakistan, and Saudi Arabia have agreed to enhance their defense cooperation under the Mecca Agreement, establishing a permanent secretariat in Saudi Arabia to support coordination and expand defense industry collaboration. This move aims to bolster collective deterrence and regional security, emphasizing support for sustainable peace and stability. The agreement was signed during a meeting of the Strategic Political and Defence Committee in Istanbul, marking a significant step in the institutionalization of their defense cooperation. The secretariat will be led by a secretary-general from Pakistan for a three-year term, and the countries will also strengthen the capabilities and cohesion of their armed forces through joint activities.
Turkey, Pakistan, and Saudi Arabia have agreed to enhance their defense cooperation under the Mecca Agreement, establishing a permanent secretariat in Saudi Arabia to support coordination and expand defense industry collaboration. This move aims to bolster collective deterrence and regional security, emphasizing support for sustainable peace and stability. The agreement was signed during a meeting of the Strategic Political and Defence Committee in Istanbul, marking a significant step in the institutionalization of their defense cooperation. The secretariat will be led by a secretary-general from Pakistan for a three-year term, and the countries will also strengthen the capabilities and cohesion of their armed forces through joint activities.
tr35Syrian Democratic Forces Dissolution Raises Concerns for Kurds and Turkey
The dissolution of the Syrian Democratic Forces (SDF) has significant implications for Syria's Kurds and Turkey. The SDF, a predominantly Kurdish force that was the main US partner in Syria, is now integrating into the Syrian army. This move raises concerns about the future of Kurds in Syria, including their language and political rights, as well as the end of Kurdish-led autonomy. The SDF's dissolution also affects Turkey's conflict with Kurdish militants, as Ankara considers the SDF a terrorist organisation linked to the PKK. The move could potentially remove an obstacle to the fragile peace process between Ankara and the PKK, but it also raises questions about the role of women in the new administration and the integration of female SDF fighters into Syria's armed forces.
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Syrian Democratic Forces Dissolution Raises Concerns for Kurds and Turkey
The dissolution of the Syrian Democratic Forces (SDF) has significant implications for Syria's Kurds and Turkey. The SDF, a predominantly Kurdish force that was the main US partner in Syria, is now integrating into the Syrian army. This move raises concerns about the future of Kurds in Syria, including their language and political rights, as well as the end of Kurdish-led autonomy. The SDF's dissolution also affects Turkey's conflict with Kurdish militants, as Ankara considers the SDF a terrorist organisation linked to the PKK. The move could potentially remove an obstacle to the fragile peace process between Ankara and the PKK, but it also raises questions about the role of women in the new administration and the integration of female SDF fighters into Syria's armed forces.
The dissolution of the Syrian Democratic Forces (SDF) has significant implications for Syria's Kurds and Turkey. The SDF, a predominantly Kurdish force that was the main US partner in Syria, is now integrating into the Syrian army. This move raises concerns about the future of Kurds in Syria, including their language and political rights, as well as the end of Kurdish-led autonomy. The SDF's dissolution also affects Turkey's conflict with Kurdish militants, as Ankara considers the SDF a terrorist organisation linked to the PKK. The move could potentially remove an obstacle to the fragile peace process between Ankara and the PKK, but it also raises questions about the role of women in the new administration and the integration of female SDF fighters into Syria's armed forces.