Czech Republic - Factors To Watch on April 26

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INTEREST RATE DECISION

Central bank (CNB) policymakers meet to review interest rates and an inflation outlook for up to 18 months ahead at a monthly meeting.

An announcement is expected sometime after 12 p.m. (1000 GMT) with a news conference to follow at 3:30 p.m. (1330 GMT).

In a Reuters poll among 17 CNB watchers, all predicted stable rates this month 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].

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

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

FACTBOX ON C.EUROPE C.BANK MEETINGS..........[ID:nL23260415]

TELEFONICA O2 EARNINGS Telecoms operator Telefonica O2 Czech Republic , a unit of Spain's Telefonica , releases first-quarter results and holds an annual shareholders' meeting.

Analysts expect net profit to rise 8 percent year-on-year to 2.2 billion crowns as solid mobile revenue growth helped offset the costs of launching a cellular unit in Slovakia, according to a Reuters poll.

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ORCO DIVIDEND

Developer Orco Property Group holds an annual shareholders' meeting to vote on a dividend payout.

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NEW 10-YEAR BOND

The 10-year government bond drew solid demand from investors in Wednesday's inaugural auction despite bearish market sentiment and a yield coming in below benchmark euro zone levels.

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- For auction details and results, double click on the following codes [ID:nL25290174] [ID:nL25205611] and .

CEZ PULLS STOCK MARKET TO RECORD HIGH

Shares in power firm CEZ hit a record high of 1,022 crowns on Wednesday on the back of a share buyback plan and bullish investment ratings, pushing the Prague PX index to fresh highs.

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Wood & Company has upgraded Czech power utility CEZ to "buy" from "hold" and raised its share price target to 1,250 crowns from 1,075 crowns.

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ING Wholesale Banking has raised its 12-month target price on shares in Czech power utility CEZ to 1,032 crowns from 1,007 crowns.

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NO DETAILS ON CEZ STAKE SALE

The government plans to keep mum on the upcoming sale of its 7 percent stake and will reveal neither the names of its brokers nor the method and the timeframe of the stake sale, writes the business daily Hospodarske Noviny.

Finance Minister Miroslav Kalousek was quoted by the daily as saying the government will not publish any information concerning the sale before it has been completed.

PUBLIC SECTOR JOB CUTS

The government has agreed to cut the number of public sector employees at an annual rate of at least 3 percent until 2010, which could save some 30 billion crowns, reports the daily Lidove Noviny.

FACTBOX ON GOVT'S TAX AND SPENDING PLANS....[ID:nL03553262]

KOMERCNI DIVIDEND

Shareholders of lender Komercni Banka approved a 150 crown ($7.28) dividend per share at an annual meeting on Wednesday, down from a 250 crown dividend last year.

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HYUNDAI SUPPLIERS

Three suppliers to a plant Hyundai Motor Co is building in the Czech Republic plan to invest 400 million euros ($545.6 million) in the country, an investment agency said.

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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

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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