Washington reopens after 43-day shutdown; Fed minutes show many officials lean against December cut; SEC drops crypto from 2026 agenda
The United States federal government has fully reopened after a record 43-day shutdown, restoring most federal services, paying back-wages and resuming routine operations. Meanwhile, minutes from the Federal Reserve October meeting reveal that many officials are inclined to keep rates steady in December, citing persistent inflation and recovery uncertainty. Finally, the U.S. Securities and Exchange Commission’s 2026 examination priorities no longer explicitly reference crypto-asset firms, signalling a shift away from its recent focus on digital-asset oversight.
Sources:CBSNews, Bloomberg, CryptoSlate
UK inflation cools to 3.6% as markets reel amid tax-policy shock
In October 2025, the UK’s annual consumer price inflation fell to 3.6%, down from 3.8% in September and aligning with market expectations, opening the door for a possible Bank of England rate cut in December. UK financial markets experienced heightened volatility after reports that Chancellor Rachel Reeves has abandoned a planned rise in income tax ahead of the upcoming Autumn Budget. This reversal triggered a sell-off in government bonds (gilts) and a depreciation of the pound sterling. In foreign-exchange trading, the pound fell to around $1.3155 before recovering to about $1.3180, as market participants remained cautious amid questions over the UK’s fiscal strategy and its implications for the Bank of England’s policy path.
Meanwhile, the FTSE 100 index dropped more than 1% in a single session — the steepest fall since April — as global equity markets broadly sold off and UK domestic sentiment was further shaken.
Europe shows resilience amid deep internal disparities; Euro remains under pressure ahead of U.S. employment data
Europe’s economy eked out modest growth in Q3, but nearly half of the European Central Bank-member bloc saw stagnation, underscoring structural divergence even as the region holds up reasonably well in aggregate. Meanwhile, the Euro continues to hover with a bearish tilt against the U.S. dollar as investors await key U.S. employment data — though euro-area resilience is capping deeper losses
Nigeria’s inflation falls to 16.05%; SEC to shift to T+2 settlement cycle on November 28
In October 2025, Nigeria’s annual inflation rate eased to 16.05 %, down from 18.02 % in September, marking the lowest reading in approximately eight months and reflecting improved food supply and stable foreign-exchange conditions. Meanwhile, the SEC announced that from 28 November 2025 the Nigerian capital market will transition its equities settlement cycle from trade date plus three days (T+3) to trade date plus two days (T+2), aiming to boost liquidity, shorten investor fund access, and align with global practices.
Sources: TradingEconomics, Nairametrics
Nigeria’s reserves hit multi-year high; digital assets now explicitly taxable under newly reformed tax law
The Central Bank of Nigeria announced that Nigeria’s foreign exchange reserves climbed to approximately US $43.4 billion as of October 2025, marking a five-year high and providing around 11 months of import cover. Meanwhile, the recently enacted Nigeria Tax Act 2025 broadens the tax base by spelling out that “digital assets” (including cryptocurrencies, NFTs and similar digital representations of value) are taxable under the nation’s tax legislation—subject to income, gains and VAT treatments.
Sources: Punch, Nairametrics
BoG mobilises GH¢7billion via 56-day bill; and host Cedi@60 Anniversary Currency Conference
The Bank of Ghana raised approximately GH¢ 7.0 billion in its 56-day central bank bill auction held on 20 October 2025, with bids in the 20.0%-20.81% range and a weighted average interest rate of about 21.46% per annum. Meanwhile, the Bank’s international currency conference marking the 60th anniversary of the Ghanaian cedi, themed “Cedi@60: A Symbol of Sovereignty, Stability and Economic Resilience,” concludes today, November 20, 2025, at the Accra International Conference Centre.
Sources: CNR, ModernGhana
Central Bank of West African States (BCEAO) kicks off public developer sandbox while publishing official first-group of PI‑SPI participants
The BCEAO officially deployed a public “developer sandbox” environment for its interoperable instant payment platform, PI-SPI, allowing firms to test APIs, access documentation and build on the infrastructure in a secure test setting. The BCEAO published the first official list of 62 institutions authorised to participate in PI-SPI across the West African Economic and Monetary Union (UEMOA) zone, marking a key milestone in the rollout of instant, region-wide 24/7 payment flows.
Sources: TogoFirst, FinancialAfik
Côte d’Ivoire retains “BB/B” ratings with stable outlook; CEMAC’s CAR plans 35-50 billion XAF treasury issuance
S&P Global Ratings reaffirmed Côte d’Ivoire’s long- and short-term foreign and local-currency sovereign credit ratings at “BB/B,” maintaining a stable outlook. The agency cited the country’s robust growth prospects as balancing risks from high external leverage and financing needs. Meanwhile, within the Economic and Monetary Community of Central Africa (CEMAC), the Central African Republic plans to issue a new treasury bond worth between 35 billion and 50 billion CFA francs to support its fiscal financing strategy. Additionally, CEMAC banks face a strict November 2025 deadline to comply with a new anti-fraud payment standard.
Sources: SPGlobal, EcofinAgency
Oil prices wobble between surplus worries and sudden supply shocks
Global oil benchmarks slipped amid concerns that the market could face a surplus of up to 4 million barrels per day in 2026, according to the International Energy Agency (IEA), which cited steady supply growth and weakening demand. At the same time, oil surged about 2% after a drone attack on Russia’s Novorossiysk port disrupted loadings and triggered fresh supply‐risk concerns, only to ease again once exports resumed at the terminal. Meanwhile, Brent crude price is predicted to hit $70 per barrel.
Nigeria hits 1.7m bpd oil production; FG suspends planned 15% fuel import duty
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reports that Nigeria’s oil production has climbed to approximately 1.7 million barrels per day (bpd), driven by increased upstream operational efficiency and security gains. Meanwhile, the Federal Government has suspended the planned 15% ad valorem import duty on petrol and diesel originally introduced to encourage domestic refining after concerns that the levy could drive up fuel prices and jeopardise energy supply stability. Fuel retailers responded by reducing pump prices in Abuja and environs following the suspension, and consequently, Dangote refinery claimed their decrease was not influenced by the 15% tariff policy.
