Czech Republic - Factors To Watch on May 17

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CEZ EARNINGS

Power firm CEZ releases first-quarter results at 1 p.m. (1100 GMT). The average net profit forecast of analysts polled by Reuters is 12.1 billion crowns, up 21 percent over a year ago.

A news conference with CFO Petr Voboril is scheduled 1:30 p.m. (1130 GMT).

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STATE'S STAKE SALE

The Czech government's planned sale of a 7 percent stake in CEZ is expected to largely bypass the markets, the business daily Hospodarske Noviny reported.

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C.BANK NON-POLICY MEETING

The central bank's governing board holds a regular weekly meeting. It is not scheduled to discuss monetary policy issues.

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CENTRAL BANK NEARING RATE HIKE

The Czech central bank (CNB) is probably nearing a time when it will raise interest rates, but its policy primarily seeks to keep inflation in check and does not target asset prices, CNB policymakers said.

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ANALYSTS EXPECT RATE HIKE BY JUNE

The Czech central bank (CNB) is very likely to raise interest rates by 25 basis points by June following the strong April inflation data, a Reuters poll of 19 analysts showed.

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FOR DETAILED FORECASTS, DOUBLE-CLICK ON [ID:nL10503700]

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

($1=20.97 Czech Crown)

[PRAGUE/Reuters/Finance.cz]