Czech Republic - Factors To Watch on May 22

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TIGHTER CREDIT CONDITIONS

Interest rates need to rise soon, unless the crown currency firms enough to keep inflation at bay in the booming Czech economy, central bank (CNB) Vice-Governor Ludek Niedermayer told Reuters in an interview.

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News on CNB policymakers' comments: [RTRS-LEN-CZ-CEN-PLCY]

FACTBOX on central European rate policies: [ID:nL21566195]

RETAIL BOOM

Growth of Czech retail sales quickened to reach 10.5 percent year-on-year in March, beating market expectations and confirming a sharp rebound in household spending, which analysts say may require higher interest rates.

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Real-time data releases and market forecasts:

REUTERS POLL: CROWN SEEN ROUGHLY STEADY NEAR-TERM

The Czech crown is seen holding steady near 28 per euro in the next three months, but will resume firming and set new record highs a year from now, a Reuters poll showed.

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TABLE of forecasts: [ID:nL21658581]

Past results of the monthly survey: [CZK/POLL]

Regular updates on crown moves: [CZK/]

RWE TRANSGAS EYES NEW PIPELINE

RWE Transgas Net, a Czech unit of German energy company RWE , is considering a new gas pipeline linking two points at the German border through the Czech Republic, the parent company said.

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Previous stories on the company: [RTRS-LEN-RWEG.DE]

RESEARCH ALERT:

CA IB UPS PHILIP MORRIS CR TO "HOLD"

CA IB International Markets raised its recommendation for shares of Czech cigarette maker Philip Morris CR to "hold" from "sell". The bank increased its 12-month target price to 11,752 crowns ($563.3) from 11,480 crowns.

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Related news: [RTRS-LEN-CZ-TABKsp.PR]

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=20.79 Czech Crown)

[PRAGUE/Reuters/Finance.cz]