Akintunde Oyedokun
Research Analyst
Oil prices steadied on Tuesday after a 4% drop, with Brent at $66.47 and WTI at $62.38 per barrel. Russia said the market is balanced, while OPEC+ kept March output unchanged. Prices had fallen on hopes of renewed U.S.–Iran talks, a stronger dollar, and a U.S.–India trade deal that could boost Russian oil supply.
Market volatility is expected to continue as geopolitical developments and trade agreements unfold.
RBA Hikes Rates Amid Rising Inflation
Australia’s central bank raised interest rates by 25 basis points to 3.85%, its first increase in two years, as inflation and strong private demand persist. Governor Michele Bullock said further adjustments may be needed but gave no clear signal on a full tightening cycle. The Australian dollar rose 0.9%, bond yields jumped, and markets now expect another hike in May. The RBA is acting cautiously to balance inflation control with maintaining labor market gains.
Hong Kong Retail Sales Rise in December
Hong Kong’s retail sales grew 6.6% in December, marking the eighth consecutive month of gains, supported by strong local consumption and rising tourism. Visitor arrivals rose 9.2% to 4.65 million, with mainland Chinese tourists leading. Jewellery and luxury goods sales surged, while clothing and footwear declined. For 2025 overall, retail sales value increased slightly, with volumes largely unchanged.
Tanzania to Boost Spending Despite Funding Pressures
Tanzania plans a 10% increase in its 2026 budget to 61.93 trillion shillings ($24.29 billion) and aims to borrow 15.24 trillion shillings. Funding is tight after cuts from international partners, while the economy is forecast to grow 6.3% next year, with medium-term growth around 6.9%. The government is relying on domestic resources and strategic borrowing to finance key development projects.
Nigeria Launches Nationwide Financial Literacy Training
The Federal Government has launched a free programme to train 10 million Nigerians, prioritizing women and youth, in financial literacy, digital skills, and investment knowledge. Led by the Vice President’s office with six professional bodies, the initiative aims to equip young Nigerians for the digital economy and inclusive *growth. The programme* also includes digital platforms to ensure wide accessibility and effective learning.
