Czech Republic - Factors To Watch on April 20

...

UNIONS ON REFORM

Trade union leader (CMKOS) Milan Stech holds a news conference at 9:30 a.m. (0730 GMT) to discuss the government's proposal for a public finance reform and its impact on workers.

[RTRS-LEN-CZ-POL-GVD]

C.BANK TURNS MORE HAWKISH

A subtle shift in Czech central bank (CNB) chief's rhetoric towards a hawkish view on inflation is giving the CNB free hand to raise interest rates before July, earlier than markets have expected.

[nL1993581] [RTRS-LEN-CZ-CEN-PLCY]

Money market interest rates and short-term debt yields rose on Thursday after hawkish comments by CNB Governor raised the chances of a further policy tightening in the coming months.

[nL198133]

In a Reuters poll among 17 CNB watchers taken after Tuma's comments, all predicted stable rates next week and only two mentioned the probability of a next rate hike in the second quarter. The rest stuck to the forecast of a 25 basis point rate increase no earlier than in July [CNB/INT].

REUTERS POLL ON INTEREST RATE FORECASTS......[ID:nL19109899]

CNB policymaker Mojmir Hampl will miss the monthly meeting on interest rates on April 26, when rate-setters will also discuss an updated inflation forecast. He spoke against any near-term rate rise in his last public statement in mid-March.

C.BANKERS' RECENT REMARKS ON POLICY..........[ID:nL19132137]

CEZ TO SELL ON ENERGY EXCHANGE

CEZ , Europe's second largest electricity exporter, said on Thursday it will no longer hold power auctions and instead try to sell all of its free power through a new energy exchange.

[nL19114936] [RTRS-LEN-CZ-CEZPsp.PR]

NEW BOND COUPON

The Finance Ministry has set the coupon for the new 10-year benchmark state bond at 4.00 percent per annum.

[nPRA001257] [RTRS-LEN-CZ-GVD-ISU]

ORCO CAPITAL HIKE

Real estate developer Orco Property Group is still planning on issuing a total of 100 million euros ($135.9 million) in stock when it lists on the Budapest and Warsaw bourses and not 100 million euros on each.

[nL19457083] [RTRS-LEN-CZ-ORCOsp.PR]

RESEARCH ALERT: ING CUTS PHILIP MORRIS TARGET

ING Wholesale Banking has cut its 12-month target price on shares in Czech tobacco company Philip Morris CR to 9,100 crowns from 9,900 crowns, but kept a "hold" rating.

[nL19731275] [RTRS-LEN-CZ-TABKsp.PR]

REUTERS POLL: CROWN SEEN STEADY NEAR-TERM

The Czech crown is forecast to hover around current levels near 28 per euro in the next three months, but then resume its long-run uptrend to set record highs a year from now, a Reuters poll shows.

[nL17481431]

- For table of forecasts, double click on [ID:nL17462429].

- For regular updates on crown moves click on [CZK/].

For overview of economic data and forecasts click on 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