Akintunde Oyedokun
Research Analyst
Oil prices were little changed Thursday, with Brent at $68.18 and WTI at $64.28, as traders balanced optimism from the Fed’s rate cut with concerns about a slowing U.S. economy. Kuwait’s oil minister expects demand growth, particularly from Asia, while QatarEnergy raised crude prices to an eight-month high. Analysts remain cautious, noting the cuts signal economic weakness despite a slight drop in U.S. jobless claims.
China Holds Key Rate Steady as Strong Exports, Stock Rally Reduce Need for Stimulus
China’s central bank kept its key rate at 1.40% on Thursday, choosing not to follow the U.S. Fed’s rate cut. Strong exports and a booming stock market gave policymakers room to delay new stimulus despite a slowing economy. Analysts still expect limited easing in Q4 to keep growth near the “around 5%” target. The PBOC also injected 487 billion yuan to maintain market liquidity.
New Zealand GDP Falls Sharply, Boosting Odds of Aggressive October Rate Cut
New Zealand’s GDP fell 0.9% in Q2, worse than expected, marking its third contraction in five quarters. The weak data sent swap rates and the kiwi dollar lower, with markets now betting on a steeper rate cut in October. Economists expect a 50-basis-point cut next month as construction, manufacturing, and tourism remain sluggish, while U.S. tariffs add more pressure on exports.
South Africa’s SARB Holds Rate at 7% Amid Inflation Control, Growth Upgrade
South Africa’s central bank kept its key rate at 7% in a close decision, citing the need to gauge the impact of earlier cuts totaling 125bps. Inflation eased to 3.3% in August, near the bottom of the target range, while growth forecasts were raised to 1.2% for 2025. SARB warned U.S. tariffs could hurt jobs but expects limited effects on inflation and growth.
The split vote highlights policymakers’ caution as they balance growth support with price stability. Future rate moves will depend on inflation trends and economic resilience.
Nigeria Set to Receive First Dry-Lease Aircraft October 2025 as Air Peace MRO Facility Breaks Ground
Nigeria will receive its first dry-lease aircraft on October 6, 2025, after exiting the AWG watchlist in 2024. Aviation Minister Festus Keyamo announced this during the launch of Air Peace’s N32 billion MRO facility in Lagos, set for completion in 15 months.
The dry-lease deal will cut capital flight, give airlines more control, and boost competitiveness, supported by Nigeria’s improved Cape Town Convention compliance and Afreximbank’s plan to provide 25 aircraft
