Czech Republic - Factors To Watch on May 31

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C.BANK SEEN RAISING RATES

Central bank (CNB) policymakers are widely expected to raise interest rates, by 25 basis points, for the first time in eight months at their monthly meeting on Thursday.

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

The CNB's policy rate is 2.50 percent, a record 125 basis points below the euro zone equivalent, following hikes totalling 75 basis points between October 2005 and September 2006.

Reuters poll of analysts' expectations: [ID:nL25550817]

TABLE of forecasts: [ID:nL25394000]

FACTBOX on central European central banks: [ID:nL21566195]

Monthly surveys on the outlook for economic data and interest rates: [CNB/INT] [CZK/POLL]

Regular updates on crown moves: [CZK/]

ECONOMIC INDICATOR

April money supply is due out at 10 a.m. (0800 GMT).

Previous stories on Czech data............[CZ-RTRS-LEN-ECI]

Overview of economic data and forecasts.........

Real-time economic indicators.....................

DEBT AUCTIONS

The finance ministry offers a tranche of the 52-week Treasury bills in an auction to be conducted by the central bank.

Auction details and results:

Related news: [RTRS-LEN-CZ-MMT]

The ministry sold 5.51 billion crowns ($261.1 million) worth of 3.25 percent coupon government bond in the first, competitive round of bidding at Wednesday's auction. It sold 732 million crowns in the second, non-competitive round.

News reports: [nL29258967] [nL30476532]

Auction details and results:

Related news: [RTRS-LEN-CZ-GVD-ISU]

GAS PRICES

RWE Transgas, a unit of German utility RWE , holds a news conference on natural gas prices in the third quarter at 11 a.m. (0900 GMT).

Related news: [RTRS-CZ-LEN-NGS]

MISSILE SHIELD

Prime Minister Mirek Topolanek and other officials speak at a conference on "U.S. Missile Defence in Europe: Consequences for Transatlantic Relations". Topolanek's speech is scheduled to begin at 10:30 a.m. (0830 GMT).

Related news: [RTRS-LEN-CZ-DIP-US]

COMPANY EARNINGS

Real estate developer Orco Property Group said its net profit dropped to 0.44 million euros in the first quarter from 7.34 million a year ago.

Story: [nL30643093]

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

First quarter net profit at Czech artificial fabrics maker Pegas Nonwovens dropped by more than half over a year ago to 2.899 million euros ($3.91 million).

Story: [nPRA001317]

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

REUTERS POLL: Q1 GDP SEEN AT 6.1 PCT

Buoyant consumption and a boom in the industrial and construction sectors is likely to have helped spur a mild pick up in Czech economic growth in the first quarter following a gradual slowdown last year, according to a Reuters poll.

[nL30315279]

DETAILS OF GDP FORECASTS........................[nL30457863]

SUMMARY OF FORECASTS FOR DATA DUE OUT IN JUNE...[nL30445623]

RESEARCH ALERT: KBC UPS CME TO "BUY"

KBC/Patria Finance raised its recommendation on shares of central European broadcaster CME to "buy" from hold".

Story: [nL30552958]

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

FOR RECOMMENDATIONS ON CZECH BLUE CHIPS, 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]