Czech Republic - Factors To Watch on June 11

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ALL TIMES GMT (Czech Republic: GMT + 2 hours)

======================== ECONOMIC DATA ========================

-------------------- RELEASED INDICATORS ----------------------

FIRST QUARTER GDP AND MAY INFLATION: The economy expanded by 6.1 percent in the first quarter in a slight slowing from last year's average growth, while latest inflation data was seen pointing to higher interest rates.

Story: [nL08216043]

Instant Views: [nL08200685] [nL08529664]

Tables: [nL08200547] [nL08525507]

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

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

Updates on Czech currency............................[CZK/]

========================== TOP STORY ==========================

CABINET MEETING: The cabinet meets in a regular weekly session and is due to discuss a 2008 state budget draft and the medium-term fiscal outlook for 2009-2010.

News conference is tentatively scheduled for 1200.

Factbox on fiscal reform proposals: [ID:nL07797331]

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

The finance ministry proposes a deficit of 78.4 billion crowns ($3.70 billion) on revenue of 934.4 billion, Deputy Finance Minister Eduard Janota is quoted as saying in the daily Hospodarske Noviny.

==================== ELSEWHERE IN THE NEWS ====================

ENERGY POLICY: Deputy Industry and Trade Minister Tomas Huener speaks at a conference on the government's medium-term energy policy at 0810. CEZ Deputy Chairman Jiri Borovec speaks on the firm's strategy at 1215.

Past stories on CEZ: [RTRS-LEN-CZ-CEZPsp.PR]

GOVERNMENT DEBT: The finance ministry is expected to set the coupon for a new 15-year benchmark government bond at 1200.

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

C.BANK MINUTES: Interest rates will rise towards policy neutral levels in the future because downside risks to inflation observed in the past have diminished, minutes to the central bank's (CNB) meeting on May 31 showed.

Story: [ID:nL31276683]

Full text: [nL08681605]

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

CROWN WEATHERS SELL-OFF: The Czech crown held ground on Friday as the firm domestic economy helped the popular funding currency to resist a global selloff and buck the slide in other central European markets.

Story: [nL08621813]

Previous updates on Czech currency moves: [CZK/]

SKODA AUTO: Skoda, Volkswagen's successful Czech value-brand and the Czech Republic's largest exporter, posted a 9.2 percent rise in sales to 53,077 vehicles in May.

Story: [nL08486357]

Related news: [RTRS-LEN-CZ-VOWG.DE]

RESEARCH ALERT

ERSTE UPS CEZ: Erste Bank/Ceska Sporitelna raised its one-year price target for shares in power group CEZ to 1,045 crowns from 989 crowns, while maintaining a "hold" recommendation on the stock.

Story: [nL08243864]

Recommendations on blue chip stocks:

(Reuters has not verified any of the newspaper reports that may be quoted above and does not vouch for their accuracy.)

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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($1=21.18 Czech Crown)

Keywords: CZECH FACTORS/