Czech Republic - Factors To Watch on Aug 9

...Republic: GMT + 2 hours) 
 
 ======================== ECONOMIC DATA ======================== 
    No economic data are due out until Monday's release of June 
current account and industrial and construction output numbers. 
    Real-time economic data releases.................... 
 
 -------------------- RELEASED INDICATORS ---------------------- 
    INFLATION SOFTER THAN SEEN: Inflation ebbed to a four-month 
low in July, confounding market expectations of a further 
quickening and weakening the case for another interest rate 
increase as early as this month. 
    Story: [nL08145120] 
    INSTANT VIEW OF CPI DATA.....................[ID:nL08620278] 
    A majority analysts in a snap Reuters poll said the central 
bank (CNB) is likely to take a breather in policy tightening 
this month after July inflation came in below both its own and 
market forecasts. 
    SNAP POLL ON ANALYSTS' RATE FORECASTS........[ID:nL08118209] 
    Lower than expected consumer price growth in July showed 
that the CNB is right to leave room to react to surprises in 
either direction, Vice-Governor Miroslav Singer told Reuters. 
    Story: [nL08394069] 
    Previous stories on Czech data.............[CZ-RTRS-LEN-ECI] 
    Overview of economic data and forecasts.......... 
    Updates on Czech currency.............................[CZK/] 
 
 ========================== TOP STORY ========================== 
    UNIPETROL : Second-quarter profits at Czech oil 
group Unipetrol  are likely to lag some analysts' 
estimates due to a higher one-off charge, the company said, 
knocking 2 percent off its share price. 
    Story: [nL08745646] Related news: [RTRS-LEN-CZ-UNPEsp.PR] 
 
 =========================== EVENTS ============================ 
    T-BILL AUCTION: The Finance Ministry offers a 5 billion 
crown tranche of 26-week Treasury bills through an auction to be 
conducted by the central bank. Yield in the previous auction of 
bills with the same maturity reached 2.54 percent. 
    Auction details and results:  
 
 ---------------------- MARKET SNAPSHOT ------------------------ 
 Index/Crown Currency  Latest    Prev    Pct change   Pct change 
                                 close   on day       in 2007 
 PX Index        1,808.2  1,770.4   +2.14        +13.80 
 vs Euro      28.200   28.165   -0.12         -2.48 
 vs Dollar       20.422   20.369   -0.27         +1.93 
 Pvs close or current levels vs prior domestic close at 1500 
 
 ==================== ELSEWHERE IN THE NEWS ==================== 
    FISCAL REFORMS: The parliamentary budget committee adopted 
an opposition-led proposal on Wednesday to reject the 
government's package of tax and social reforms in a vote within 
the next month. Debate in second out of three required readings 
is due to open on Aug. 14. 
    Story: [nL08249488] 
    TAX RATES: Prime Minister Mirek Topolanek wants to call a 
coalition meeting for Aug. 13 to consider amending the 
government's tax-cut plan. He may propose to unify all personal 
income tax brackets at 13.5 percent next year, and to cut the 
rate to 12 percent in 2009. The government's fiscal reform draft 
is based on a 15 percent flat personal income tax rate. 
    Pravo, page 15 
    FACTBOX on proposed measures: [nL07797331] 
    Related news: [RTRS-LEN-CZ-POL-GVD] 
     
    CEZ : State-owned power utility CEZ  
is raising 7 billion crown ($342.1 million) through a 3-year 
domestic bond with a fixed annual coupon of 4.3 percent, the 
company said. 
    Story: [nL08447984] Related news: [RTRS-LEN-CZ-CEZPsp.PR] 
     
    CME :  Central European Media Enterprises 
(CME) has abandoned talks with a Czech investor about acquiring 
the small teleshopping channel Top TV in the Czech Republic. The 
investor has demanded too high a price. 
    Lidove Noviny, page 12 
    Related news: [RTRS-LEN-CZ-CETV.O] 
     
     
 
 
 (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          
 
 For real-time stock market index quotes click in brackets: 
 Warsaw WIG20   Budapest BUX   Prague PX  
 
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    E-mail: prague.newsroom@reuters.com 
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[PRAGUE/Reuters/Finance.cz]