Czech Republic - Factors To Watch on May 10

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INFLATION SEEN AT 7-MONTH HIGH, UNEMPLOYMENT FALLING

Consumer inflation and unemployment data are due out for publication at 9 a.m. (0800 GMT).

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

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

- OVERVIEW OF ECONOMIC FORECASTS: [ID:nL02664655]

- SUMMARY OF COMMENTS BY CNB POLICYMAKERS: [ID:nL26200293]

- For FACTBOX detailing key assumptions of Czech central bank inflation forecasts, double click on [ID:nL0428777].

C.BANK HOLDS NON-POLICY MEETING

The central bank's governing board holds a regular weekly meeting. It is not scheduled to discuss monetary policy issues. Policymakers next meet to review interest rates on May 31.

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RECORD TRADE SURPLUS

The Czech Republic posted its largest monthly surplus ever recorded in March, higher than expected data showed, reinforcing the market's view the crown was likely to recover from recent falls later in 2007.

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INSTANT VIEW OF MARCH TRADE DATA.............[ID:nL09284340]

CORE INFLATION SEEN ON RISE

Core inflation is likely to more than double and near a 3-year high within a year as the crown steadies at weaker levels and the economy keeps booming, the CNB's chief economic forecaster said.

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KLAUS FOR PRESIDENT, SAYS HIS FORMER PARTY

Members of both houses of parliament representing the ruling Civic Democrats (ODS) have voted unanimously to nominate President Vaclav Klaus for his second and final five-year term as president, writes the daily Mlada fronta Dnes.

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ORCO WARSAW LISTING

Real estate developer Orco Property Group may start trading on the Warsaw Stock Exchange on May 23, the bourse's chief Ludwik Sobolewski said.

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RESEARCH ALERTS:

UBS UPS CEZ TARGET

UBS has raised its target price for shares in CEZ to 1,200 crowns from 1,040 crowns and re-iterated its "Buy 1" rating for the Czech-based firm.

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WOOD & CO. AND CA-IB UPS CME TARGETS

Wood & Company has raised its 12-month target price on shares in central European broadcaster CME by 15 percent to $115, maintaining its "buy" rating.

CA-IB investment bank raised its 12-month target price by 2.2 percent to $90, but cut its recommendation to "sell" from "hold".

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CME ISSUES NOTE

Television broadcaster Central European Media Enterprises priced a 150 million euro 7-year senior secured floating-rate note at a lower yield than initially expected, a banker familiar with the sale said.

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EARNINGS POLL: KOMERCNI REVENUE SEEN UP

Komercni Banka , the only Czech listed lender, is expected to report a 10 percent rise in revenue for the first quarter of 2007 due to credit expansion, a Reuters poll of analysts showed.

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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

[PRAGUE/Reuters/Finance.cz]