NAIROBI, July 10 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

EVENTS:

*Rwanda’s statistics office releases consumer inflation data for June.

*State-owned Ethio Telecom releases its financial results for the full year to end-June.

GLOBAL MARKETS

Asian stocks hovered near two-year highs on Wednesday on growing bets of imminent U.S. rate cuts, while the New Zealand dollar slid after its central bank signalled greater confidence that inflation was coming to heel.

WORLD OIL PRICES

Oil prices rebounded on Wednesday following three days of declines after an industry report showed U.S. crude and fuel stockpiles fell last week, indicating steady demand, and the outlook for interest rate cuts improved.

SOUTH AFRICA MARKETS

The South African rand edged lower on Tuesday after Federal Reserve Chair Jerome Powell did not give a clear indication on whether the U.S. central bank would cut interest rates soon.

NIGERIA PETROLEUM

Nigeria’s NNPC is in talks for another oil-backed loan to boost its finances and allow investment in its business, its chief executive told Reuters, as pressure mounts on the state-backed oil company the economy depends upon.

KENYA MARKETS

Kenya’s shilling was steady on Tuesday, with dollar supply and importer demand matching, traders said.

ETHIOPIA CENTRAL BANK

Ethiopia’s central bank said on Tuesday it was adopting an interest rate-based monetary policy regime, setting its initial rate at 15%, and creating an interbank market for currency trading, in a major shake-up of the country’s banking sector.

((Compiled by Nairobi Newsroom))