Czech Republic - Factors To Watch on March 8

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FEBRUARY INFLATION AND UNEMPLOYMENT

February inflation and unemployment figures are due out at 9 a.m. (0800 GMT).

A Reuters poll among 14 analysts gave a median estimate for year-on-year inflation to quicken to 1.5 percent in February from nearly 2-year through of 1.3 percent in January.

- For real-time economic data releases and market consensus forecasts, double click on the code in brackets:

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C.BANK NON-POLICY MEETING

The central bank's governing board meets in a regular weeekly session. No monetary policy decisions are scheduled to be on the agenda.

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GOVT EYES FISCAL REFORMS

The Czech government is determined to overhaul spending and taxes to slash a yawning budget deficit and get back on track towards euro adoption, Finance Minister Miroslav Kalousek said.

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The Czech Republic could set a new euro entry target date as part of its European Monetary Union (EMU) strategy plan, when the document is updated in August, Kalousek said.

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C.BANK EURO DOUBTS

Growing scepticism at the Czech central bank (CNB) about adopting the euro early, plus the weakness of the government which is also cool on the idea, means the crown may float freely for longer than expected.

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WAGES GROW, TRADE DISAPPOINTS

Czech real average wages jumped 4.6 percent in the final quarter of last year as the central European economy powered ahead and inflation dropped, slightly narrowing the pay gap behind richer western European neighbours.

Separately, data showed a lower-than-expected January foreign trade surplus of 10.96 billion crowns, including the first narrowing of positive balance in trade with machinery and cars since March 2004.

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TRADE IDEA: SELL CZECH BONDS FOR POLISH PAPER

An expected gradual closing of the Czech debt yield discount to the euro zone gives investors an opportunity to profit from selling long-term Czech bonds for the Polish equivalents, say analysts at Erste Bank.

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ORCO BONDS

Real estate developer Orco Property Group would redeem its 5.5 percent convertible bonds due 2011 on March 26

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Lehman Brothers International Europe is subscribing to up to 150 million euros ($196.9 million) worth of bonds with warrants from Orco .

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ENERGY POLICY

The Czech Republic and Slovakia will use the European Union's summit this week to try to revive a debate on the merits of nuclear energy, diplomats said on Wednesday.

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EU CHARTER

German Chancellor Angela Merkel's bid to revive the EU constitution is off to a rocky start as opponents tussle over a declaration on European values that was supposed to smooth the path to treaty talks.

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Overview of past economic data and market forecasts For Instant Views of key economic data click on [CZ/INSTANT] For summary of economic data and forecasts For diary of forthcoming Czech events [CZ/DIARY] For calendar of east European economic indicators [CONV/DIARY] TOP NEWS -- Emerging markets [TOP/EMRG] TOP NEWS -- Convergence watch [TOP/EAST]

For an economic indicator diary for the euro zone, the United States and other Group of Seven countries see

For real-time stock market index quotes click in brackets: Warsaw WIG20 Budapest BUX Prague PX

News editor of the day: Alan Crosby on +420 224 190 477; fax: +420 224 229 935

E-mail: prague.newsroom@reuters.com

Reuters Messaging: alan.crosby.reuters.com@reuters.net

((Compiled by Marek Petrus; Editing by xxx xxx; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477))