Czech Republic - Factors To Watch on May 3

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CME EARNINGS

Central European Media Enterprises (CME) releases first-quarter results sometime before the U.S. market opens at 3:30 p.m. (1330 GMT).

The average net profit forecast is $2.1 million, according to a Reuters poll of analysts.

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C.BANK MEETS

The central bank's governing board holds a regular weekly meeting. It is not scheduled to discuss monetary policy issues after holding interest rates steady for the seventh consecutive month last week.

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FISCAL REFORM

Leaders of opposition Social Democrats (CSSD) speak at a public forum to discuss their own proposals for fiscal reform measures at 3 p.m. (1300 GMT).

Ruling Civic Democrats (ODS) organise a seminar on public finance reform at 4:30 p.m. (1430 GMT).

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- For Factbox on the fiscal measures proposed by the ODS-led government, double click on the following code [ID:nL03553262].

PMI INDICATOR

The Czech manufacturing sector continued to grow at a strong pace in April although the rate of improvement in business conditions weakened slightly, a survey showed.

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FOR A TABLE ON BREAKDOWN, DOUBLE CLICK ON [ID:nPRA001277]

FOR HISTORY OF CZECH MANUFACTURING PMI....

FOR GUIDE TO ALL PMI INDICES..............

BUDGET BALANCE

The central state budget showed a 28.3 billion crowns ($1.37 billion) deficit for the month of April, sending the year-to-date balance into the red from a surplus at end-March.

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- For real-time economic data releases, double click on the following code:

POLL: INFLATION SEEN AT 7-MONTH HIGH

Czech inflation probably rose to a 7-month high and returned to the central bank's target in April, a Reuters poll showed, confirming a resurgence of price growth which could spur an interest rate rise as early as this month.

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- OVERVIEW OF ECONOMIC FORECASTS: [nL02664655]

- SUMMARY OF COMMENTS BY CNB POLICYMAKERS: [ID:nnL26200293]

CEZ STARTS BUYBACK

Power producer CEZ said on Wednesday it had bought 223,541 of its own shares through transactions on the Prague and Warsaw bourses, kicking off a buyback of up to 10 percent of the firm.

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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

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

[PRAGUE/Reuters/Finance.cz]