October 2026 Edition
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October 2026 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#681
What was the value of the GIFT Nifty futures as of 7:59 a.m. IST on July 27, 2026?
(a) 23,767.45
(b) 24,500.75
(c) 24,150.25
(d) 23,974.50
Explanation: The GIFT Nifty futures were recorded at 23,974.50, which indicated a positive opening for the benchmark Nifty 50 index above the previous Friday's close of 23,767.45. [Source: https://www.brecorder.com/news/40431956/indian-shares-set-to-open-higher-breaking-losing-run-as-oil-slides, 27 Jul 2026]
#682
Consider the following statements regarding the Indian market outlook as of July 27, 2026: 1. The U.S. Federal Reserve is widely expected to increase interest rates by 25 basis points this week. 2. The probability of a 25-basis-point rate hike by the Fed has risen to 36.3%. 3. Lower oil prices are expected to ease inflation concerns in India. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: The Fed is widely expected to leave rates unchanged, making statement 1 incorrect. Statements 2 and 3 are factually accurate based on the market analysis provided. [Source: https://www.brecorder.com/news/40431956/indian-shares-set-to-open-higher-breaking-losing-run-as-oil-slides, 27 Jul 2026]
#683
According to futures markets on July 27, 2026, what is the approximate probability that the Federal Reserve will keep interest rates unchanged?
(a) 62 percent
(b) 52 percent
(c) 45 percent
(d) 75 percent
Explanation: Futures markets indicated a 62 percent probability that the Federal Reserve would maintain current interest rates. This reflects market expectations regarding the policy stance of the new chairman. [Source: https://www.brecorder.com/news/40432022/dow-sampp-500-rise-as-oil-prices-tumble, 27 Jul 2026]
#684
Consider the following statements about the market conditions on July 27, 2026: 1. Crude oil prices experienced a decline of more than six percent. 2. The Dow Jones Industrial Average recorded a gain of 0.7 percent. 3. The Federal Reserve decision is expected to be the first under the new chairman. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statements 1 and 2 are factually correct based on the report. Statement 3 is incorrect because the report specifies that the upcoming decision is the second, not the first, under the new chairman. [Source: https://www.brecorder.com/news/40432022/dow-sampp-500-rise-as-oil-prices-tumble, 27 Jul 2026]
#685
Consider the following statements about the economic indicators reported on July 27, 2026: 1. The Reserve Bank of New Zealand raised rates to 2.5% earlier in July 2026. 2. Economists expect the trimmed mean measure of core inflation to rise 0.9% in the second quarter. 3. The 10-year Australian government bond yields dropped 7 basis points to 5.015%. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: All three statements are factually accurate based on the economic data provided for July 27, 2026. These indicators collectively illustrate the current monetary policy environment and market reactions in the Oceania region. [Source: https://www.brecorder.com/news/40431969/australia-nz-dollars-climb-as-oil-slide-eases-rate-concerns, 27 Jul 2026]
#686
What is the total projected external debt servicing for Pakistan in the fiscal year 2026-27?
(a) $21.5 billion
(b) $18.0 billion
(c) $26.5 billion
(d) $44.0 billion
Explanation: The SBP Governor announced that the total external debt servicing for FY27 is projected at $21.5 billion. This is a decrease from the $26.5 billion paid in the previous fiscal year. [Source: https://www.brecorder.com/news/40432030/pakistans-fy27-external-debt-servicing-projected-at-215bn-sbp-governor, 27 Jul 2026]
#687
What was the primary geopolitical driver for the decline in oil prices on July 27, 2026?
(a) Increased production from OPEC nations
(b) De-escalation of military strikes between the US and Iran
(c) Global economic recession fears
(d) Strategic petroleum reserve releases
Explanation: The tumble in oil prices was directly attributed to the pause in military strikes between the United States and Iran. Other factors like OPEC production or recession fears were not cited as the immediate cause for the price drop on this date. [Source: https://www.brecorder.com/news/40432022/dow-sampp-500-rise-as-oil-prices-tumble, 27 Jul 2026]
#688
On July 27, 2026, what was the primary factor cited for the expected rise in Indian equity markets?
(a) A sharp decline in global oil prices
(b) An unexpected interest rate cut by the Reserve Bank of India
(c) A surge in foreign direct investment inflows
(d) None of these
Explanation: The market recovery was driven by a 4.6% drop in Brent crude prices following a pause in strikes between the United States and Iran. Lower oil prices are beneficial for India as it is a major importer of the commodity. [Source: https://www.brecorder.com/news/40431956/indian-shares-set-to-open-higher-breaking-losing-run-as-oil-slides, 27 Jul 2026]
#689
Who is the current chairman of the Federal Reserve as of July 27, 2026?
(a) Donald Trump
(b) Mike Waltz
(c) Mohammad Akraminia
(d) Kevin Warsh
Explanation: Kevin Warsh is identified as the new chairman of the Federal Reserve responsible for the upcoming interest rate decision. Mike Waltz is the US ambassador to the United Nations, and Mohammad Akraminia is an Iranian army spokesman. [Source: https://www.brecorder.com/news/40432022/dow-sampp-500-rise-as-oil-prices-tumble, 27 Jul 2026]
#690
Which of the following statements regarding the market performance on July 27, 2026, is INCORRECT?
(a) The Pakistani Rupee appreciated against the Euro in the open market.
(b) The US Dollar weakened against major peers like the Yen and the Euro.
(c) The Pakistani Rupee gained marginally against the US Dollar in the inter-bank market.
(d) Brent crude futures experienced a decline in price.
Explanation: In the open market, the Pakistani Rupee actually lost value against the Euro, closing at 319.79 for buying and 322.67 for selling. Therefore, the statement claiming appreciation is false. [Source: https://www.brecorder.com/news/40431965/pakistani-rupee-registers-gain-against-us-dollar, 27 Jul 2026]
#691
Consider the following statements about the economic indicators on July 27, 2026: 1. The Pakistani Rupee recorded a gain of Re0.01 against the US Dollar in the inter-bank market. 2. The State Bank of Pakistan increased the policy rate to 12.5%. 3. Brent crude futures fell by approximately 6% during the session. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 is correct as the Rupee gained Re0.01. Statement 2 is incorrect because the policy rate was maintained at 11.5%, not increased. Statement 3 is correct as Brent crude fell by about 6% to $90.93. [Source: https://www.brecorder.com/news/40431965/pakistani-rupee-registers-gain-against-us-dollar, 27 Jul 2026]
#692
Consider the following statements about Pakistan's external debt management for FY27: 1. The total external debt servicing requirement is lower than that of FY26. 2. Approximately $10-11 billion of the principal debt is expected to be rolled over or refinanced. 3. The SBP Governor reported that $6 billion of the total debt servicing was already settled by the end of July 2026. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: All three statements are factually accurate based on the SBP Governor's briefing. The total debt servicing decreased from $26.5 billion in FY26 to $21.5 billion in FY27, with $6 billion already settled in July 2026. [Source: https://www.brecorder.com/news/40432030/pakistans-fy27-external-debt-servicing-projected-at-215bn-sbp-governor, 27 Jul 2026]
#693
What is the target inflation range set by the State Bank of Pakistan as mentioned in the July 2026 report?
(a) 3-5 percent
(b) 9-11 percent
(c) 7-9 percent
(d) 5-7 percent
Explanation: The SBP maintains a target inflation range of 5-7 percent. Current inflation levels of 11.1 percent are well above this threshold, necessitating a restrictive monetary policy. [Source: https://www.dawn.com/news/2018929/policy-rate-pause-splits-stakeholders, 28 Jul 2026]
#694
According to the June 2026 data, what was the recorded inflation rate in Pakistan?
(a) 11.1 percent
(b) 12.5 percent
(c) 9.8 percent
(d) None of these
Explanation: The inflation rate for June 2026 was reported at 11.1 percent, which remains significantly higher than the SBP's target range of 5-7 percent. This elevated inflation is a primary reason for the cautious monetary policy stance. [Source: https://www.dawn.com/news/2018929/policy-rate-pause-splits-stakeholders, 28 Jul 2026]
#695
What was the policy rate maintained by the State Bank of Pakistan as of July 28, 2026?
(a) 9.5 percent
(b) 10.5 percent
(c) 11.5 percent
(d) 12.5 percent
Explanation: The State Bank of Pakistan decided to keep the benchmark interest rate at 11.5 percent in its July 2026 review. This decision was made to balance macroeconomic stability against the demands for industrial growth. [Source: https://www.dawn.com/news/2018929/policy-rate-pause-splits-stakeholders, 28 Jul 2026]
#696
Consider the following statements regarding the economic situation in Pakistan as of July 2026: 1. The SBP's decision to maintain the policy rate is supported by domestic trade bodies to curb inflation. 2. Private sector credit showed signs of recovery in June 2026. 3. Industrial stakeholders argue that a single-digit interest rate is necessary to improve export competitiveness. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 is incorrect because domestic trade bodies (FPCCI, Korangi Association) criticized the policy rate as contractionary, not supportive. Statements 2 and 3 are factually accurate reflections of the economic sentiment and data reported in July 2026. [Source: https://www.dawn.com/news/2018929/policy-rate-pause-splits-stakeholders, 28 Jul 2026]
#697
Which of the following statements regarding the market events of March 10, 2026, is INCORRECT?
(a) The State Bank of Pakistan increased the policy rate to 12.5% to curb inflation.
(b) Trading was temporarily suspended due to a 5% rise in the KSE-30 index.
(c) The market rally was partially attributed to improved global market conditions.
(d) The KSE-100 index closed the session in the green.
Explanation: The State Bank of Pakistan maintained the policy rate at 10.5%, not 12.5%. Options A, B, and C are factually accurate descriptions of the market conditions on that date. [Source: https://www.dawn.com/news/1980474/bulls-return-as-kse-100-surges-past-9000-points-market-closes-in-the-green, 10 Mar 2026]
#698
Consider the following statements about the market activity on March 10, 2026: 1. The KSE-100 index gained over 9,000 points during the trading session. 2. The market halt was triggered by a 5% increase in the KSE-100 index. 3. The rally followed a significant decline in the index on the previous trading day. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 is correct as the index advanced 9,696.98 points. Statement 2 is incorrect because the halt was triggered by the KSE-30 index, not the KSE-100. Statement 3 is correct as the rally followed the historic drop on March 9. [Source: https://www.dawn.com/news/1980474/bulls-return-as-kse-100-surges-past-9000-points-market-closes-in-the-green, 10 Mar 2026]
#699
Which of the following is NOT a component of the export-boosting schemes approved by the ECC on July 28, 2026?
(a) Enhanced Export Finance Scheme (E-EFS)
(b) Direct cash grants for industrial electricity bills
(c) Performance-based rebate on incremental exports
(d) Long-Term Export Growth Financing Facility (LTEGFF)
Explanation: The approved package includes E-EFS, LTEGFF, and a performance-based rebate scheme. Direct cash grants for electricity bills are not part of the three specific schemes mentioned in the ECC approval. [Source: https://www.dawn.com/news/2018926/ecc-okays-rs255bn-for-export-boosting-schemes, 28 Jul 2026]
#700
Which of the following statements regarding the Australian market performance on July 27, 2026, is INCORRECT?
(a) The S&P/ASX 200 index rose to 8,851.30 points.
(b) Technology stocks jumped by 3.8%.
(c) Miners gained 2.1% during the session.
(d) The benchmark index fell by 0.9% on the previous Friday.
Explanation: The benchmark index fell by 0.8% on the previous Friday, not 0.9%. The other statements accurately reflect the market data from the session. [Source: https://www.brecorder.com/news/40431982/australian-shares-rise-nearly-1-as-middle-east-de-escalation-boosts-sentiment, 27 Jul 2026]