Akintunde Oyedokun
Research Analyst
Oil prices rose slightly as U.S. fuel inventories dropped more than expected, but gains were capped by the Federal Reserve’s decision to hold interest rates steady. Brent crude settled at $70.78, up 0.31%, while WTI gained 0.39% to $67.16.
Geopolitical tensions escalated with Israel’s renewed Gaza offensive and U.S. strikes on Yemen’s Houthis. Meanwhile, Russia and Ukraine agreed to a temporary energy truce, though uncertainty remains. Concerns over U.S. tariffs and slowing energy demand also weighed on prices.
BOJ Maintains Rates, Signals Caution Amid Global Uncertainty
The Bank of Japan kept its policy rate at 0.5%, citing global risks, particularly U.S. tariffs. Governor Kazuo Ueda highlighted rising food costs and strong wage growth as potential inflation drivers but stressed the need for more data before adjusting rates.
If economic trends continue, a rate hike could be likely by mid-year. The BOJ will reassess its outlook in April, balancing domestic inflation risks with external economic uncertainties.
Indonesia Eases Stock Buyback Rules, Central Bank Steps In to Stabilize Currency
Indonesia’s financial regulator has allowed companies to buy back shares without shareholder approval, following a 7.1% drop in the stock index. The move is aimed at boosting market confidence. Despite the central bank’s intervention, the rupiah continued to fall, impacted by both local market concerns and global issues. The buyback policy will last for six months, offering companies a tool to reduce volatility. The central bank is likely to keep interest rates steady to prioritize rupiah stability amid global uncertainties.
South Africa’s Inflation Holds at 3.2%, Central Bank May Pause or Cut Rates
South Africa’s inflation remained steady at 3.2% year-on-year in February, slightly below the expected 3.3%. This comes just before the South African Reserve Bank is anticipated to pause its rate-cutting cycle. Some experts believe the central bank might reduce rates by 25 basis points due to the lower-than-expected inflation, while others expect it to keep rates unchanged because of global economic risks and domestic budget concerns. A recent poll suggests most economists expect the repo rate to remain at 7.50%.
Nigeria, China Sign MoU to Boost Technical and Vocational Education
Nigeria has signed an MoU with China to boost technical and vocational education. The agreement, signed on March 18, 2025, aims to equip Nigerians with practical skills and strengthen training programs.
Dr. Nasir Sani-Gwarzo, representing the Minister of Education, highlighted the MoU’s flexibility for future growth and collaboration. China pledged support with expertise, technology, and equipment.
This partnership aligns with Nigeria’s education goals and aims to enhance the country’s technical workforce.
