INDICATORS - Czech Republic - July 10

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KEY INTEREST RATES    2-WEEK REPO       DISCOUNT        LOMBARD 
rate                    2.75 pct        1.75 pct        3.75 pct 
last changed 
 (date of decision)    May 31, 2007    May 31, 2007    May 31,2007 
former rate             2.50 pct        1.50 pct        3.50 pct 
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CZECH GDP (in pct)             Q1/07    Q4/06    Q1/06    2006 
 Real change yr/yr              6.1      6.1      6.6      6.4 
 Final consumption              4.7      4.6      3.8      3.4 
  Household                     6.7      5.4      3.8      4.4 
  Government                    0.4      2.4      3.8      1.1 
 Gross capital formation       13.4     10.2      7.5     11.7 
  fixed capital formation       1.5      8.1      6.8      7.6 
 Foreign trade balance          n/a      n/a      n/a      n/a 
  exports of goods             16.7     19.2     21.8     16.9 
  export of services           -1.3      3.2     17.9      9.1 
  imports of goods             17.9     19.0     18.7     15.6 
  imports of services           5.1      4.4     27.8     12 8 
    NOTE. In the first quarter, GDP totalled 816.1 billion crowns in nominal 
terms. All data from previous quarters are revised. 
 
CZECH BALANCE OF PAYMENTS      04/07    03/07    04/06  01-04/07 
 (CZK billions) 
I. CURRENT ACCOUNT            -16.79     8.53    -8.95     -3.40 
 Trade balance                  5.55    15.33     0.45     47.72 
 Balance of services            3.60     2.34     3.93      8.87 
 Income balance               -23.16   -11.08   -12.60    -53.82 
 Current transfers             -2.77     1.94    -0.73     -6.18 
II. CAPITAL ACCOUNT             0.26     0.43     0.49      2.88 
III. FINANCIAL ACCOUNT          6.45   -17.92     0.61     -8.82 
 Net Direct Investment         12.52     1.55    12.08     38.79 
  Czech abroad                 -0.74    -1.13    -0.78     -4.74 
  Into Czech Republic          13.26     2.69    12.86     43.53 
 Net Portfolio Investment       1.09    -6.90   -21.58    -18.56 
  Assets                       -7.48    -6.50   -18.77    -24.75 
  Liabilities                   8.57    -0.40    -2.81      6.19 
 Other Investments             -9.89    -9.55   -10.33    -34.95 
 Change in foreign exchange 
 reserves (minus = growth)      0.73    -1.32     0.45     -0.09 
IV. BALANCE OF OMISSIONS & 
 EXCHANGE RATE ADJUSTMENTS     10.08     8.97     7.85      9.35 
    NOTE. All 2007 figures are subject to revision. The 2006 figures are 
revised. The CNB releases the monthly figures according to ECB methodology. 
  
CZECH FOREX RESERVES   END-MAY 07    END-APRIL 07    END-MAY 06 
 euro bln                23.371         23.577         23.890 
 $ bln                   31.445         32.076         30.750 
 CZK bln                661.980        663.110        673.830 
    NOTE. The central bank said it sold foreign currency worth an equivalent of 
50 million euros in spot foreign exchange market operations in April. It sold 
foreign currency worth 85.95 million euros in client operations in April. 
  
MONETARY BASE            END-MAY 07    END-APR 07     END-MAY 06 
 (in CZK bln) 
 CNB monetary base         396.4         367.6          328.2 
  currency                 331.6         328.7          294.5 
  bank reserves             64.9          38.9           33.7 
   mandatory reserves       38.8          38.6           34.1 
 
CZECH M2 MONEY SUPPLY      END-MAY 07    END-APR 07   END-MAY 06 
 M1 change yr/yr             15.3          15.1         15.2 
 M2 change yr/yr             12.1          11.4          7.8 
 Loans to businesses 
  and households yr/yr       21.0          21.0         21.2 
 M2-M1 (deposits)  yr/yr      8.0           7.0         -0.4 
 
CONSUMER INFLATION             MAY 07      APRIL 07     MAY 06 
 pct change month/month         0.4          0.7         0.5 
 pct change year/year           2.4          2.5         3.1 
      The Statistical Bureau (CSU) has set the following dates for release of 
macroeconomic indicators (data released at 0700 GMT unless noted): 
    JULY 
    11     Inflation (June) 
           Grain harvest forecast (June) 
    13     Construction output (May) 
           Industrial output (May) 
    17     Producer prices (June) 
           Foreign trade prices (May) 
    19     Retail sales (May) 
    AUGUST 
     7     Foreign trade (June) 
           Grain harvest forecast (July) 
     8     Inflation (July) 
    13     Construction output (June) 
           Industrial output (June) 
    14     Producer prices (July) 
           Foreign trade prices (June) 
    17     Retail sales (June) 
           Service sales (Q2) 
    30     Real wage (Q2) 
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    The central bank (CNB) set the following dates for releases of economic 
indicators (data released at 0800 GMT unless noted): 
    JULY 
    10     Forex reserves (end-June) 
    13     Monetary base (end-June) 
           Balance of payments (end-May 
    31     Money supply (end-June) 
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    Czech central bank governing board meetings 
                                   MEETING TYPE 
    JULY 
    12                             regular 
    19                             regular 
    26                             Situation report 
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    The Labour and Social Affairs Ministry set the following dates for releasing 
monthly unemployment data (data released on the same day as CPI figures): 
    JULY 
    11  to end-June 
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    The Finance Ministry set the following dates for the release of state budget 
balance: 
    AUGUST 
     1   to end-July 
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              REGULAR STATE BONDS ISSUE CALENDAR 
ISSUE NAME      AUCTION DATE    ISSUE DATE     MATURITY DATE  MATURITY   VOLUME 
                                                            (in years) (CZK bln) 
Reopening of existing issue  
4.70%/22        Aug 29, 2007    Sept 3, 2007    Sept 12, 2022     15         7 
Reopening of existing issue  
3.55%/12        Sept 5, 2007    Sept 10, 2007   Oct 18, 2012       5         6 
Reopening of existing issue  
4.00%/17        Sept 19, 2007   Sept 24, 2007   Apr 11, 2017      10         6 
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