Nigeria's finance minister signaled that rate cuts are likely on the horizon if inflation keeps declining. The central bank appears ready to shift gears and ease monetary policy, which could bring some relief to government debt pressures that have been hammered by oil price swings.

This kind of policy pivot matters for emerging markets. When central banks pivot dovish amid cooling inflation, it typically reshuffles capital flows globally. Asset prices tend to respond, and traders watching commodity-dependent economies should keep tabs on how oil volatility plays into these decisions.