Akintunde Oyedokun
Research Analyst
Oil prices rose on Tuesday as uncertainty over a US-Iran peace deal raised concerns about global supply.
Brent traded at $99.94 a barrel, while WTI stood at $95.43. Iran said it could reopen the Strait of Hormuz within seven days if US pressure eases, while Saudi Arabia has resumed its East-West pipeline operations.
Brazil Cuts 2026 Growth Forecast to 2.0%
Brazil has cut its 2026 GDP growth forecast to 2.0% from 2.3%, citing weaker services and industrial activity.
The government also lowered its 2027 growth forecast to 2.3% from 2.5%, while trimming 2026 inflation expectations to 4.9%.
Meanwhile, economists surveyed by the central bank expect growth of just under 1.9% in 2026 and slightly above 1.4% in 2027.
UK Factory Orders Hit 3-Year High
UK factory orders rose to -9% in September from -25% in August, their highest level since July 2023, according to the CBI. The 36-point two-month improvement was the strongest in the survey’s 49-year history, signalling firmer manufacturing conditions
Botswana Cuts Budget Deficit Forecast
Botswana lowered its 2027 budget deficit forecast to 9.26 billion pula ($646.35 million), or 3.1% of GDP, from 26.35 billion pula (8.9%).
The improvement reflects 8.1 billion pula higher revenue, including increased central bank transfers, and spending controls.
The economy grew 3.5% year-on-year in Q1 2026 after two years of contraction.
CBN Cuts MPR by 350bps to 23%
The CBN cut the Monetary Policy Rate by 350 basis points to 23% at its September 21–22 meeting, citing easing inflation pressures.
The Standing Facilities Corridor was reset to +50/-300bps, while CRR was retained at 45% for deposit money banks, 16% for merchant banks and 75% for non-TSA public-sector deposits.
The new MPR remains 7.61 percentage points above August inflation of 15.39%
