Czech Republic - Factors To Watch on Aug 10

...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] 
    Previous stories on Czech data.............[CZ-RTRS-LEN-ECI] 
    Overview of economic data and forecasts.......... 
    Updates on Czech currency.............................[CZK/] 
 
 ========================== TOP STORY ========================== 
    C.BANKER TURNS HAWKISH: The central bank (CNB) will continue 
raising the European Union's lowest interest rates this year to 
combat inflation pressures, CNB policymaker Mojmir Hampl told 
Reuters, sending the crown slightly higher. 
    Story: [nL09633142] 
    FACTBOX ON HAMPL'S POLICYMAKING RULES: [ID:nL09154741] 
 
 =========================== EVENTS ============================ 
    CSOB EARNINGS: Ceskoslovenska Obchodni Banka (CSOB), unit of 
Belgian banking and insurance group KBC , releases 
first-half results. 
    The presentation with CSOB Chief Executive Pavel Kavanek 
speaks at 0900. 
    KBC reported on Friday a 39 percent year-on-year rise in 
second-quarter underlying profit, beating analysts' 
expectations, with all units performing well. 
    Related news: [RTRS-LEN-CZ-KBC.BR] 
 
 ---------------------- MARKET SNAPSHOT ------------------------ 
 Index/Crown Currency  Latest    Prev    Pct change   Pct change 
                                 close   on day       in 2007 
 PX Index        1,774.6  1,808.2   -1.86        +11.69 
 vs Euro      28.110   28.115   +0.02         -2.17 
 Pvs close or current levels vs prior domestic close at 1500 
 
 ==================== ELSEWHERE IN THE NEWS ==================== 
    UNIPETROL : A charge on the sale of rubber making 
subsidiary Kaucuk will cut second-quarter operating profits at 
Czech oil group Unipetrol  by 439 million crowns 
($21.49 million), the company said. 
    Story: [nL09858087] Related news: [RTRS-LEN-CZ-UNPEsp.PR] 
    EARNINGS POLL: Unipetrol  is expected to post a 
19 percent increase in net profit in the second quarter, fuelled 
by favourable conditions in both the petrochemical and refining 
markets, a Reuters poll of analysts showed. 
    Story: [ID:nL09135889] 
     
    FISCAL REFORMS: Finance Minister Miroslav Kalousek told the 
daily Hospodarske Noviny in an interview he was moderately 
optimistic that the government's package of tax and social 
reforms would pass a final parliamentary vote later this month. 
    But he warned there was still a risk the reforms would be 
rejected. 
    Hospodarske Noviny, page 8 
    Debate in second out of three required readings is due to 
open on Aug. 14. 
    Related story: [nL08249488] 
    FACTBOX on proposed measures: [nL07797331] 
    Related news: [RTRS-LEN-CZ-POL-GVD] 
     
    ELECTRICITY CONSUMPTION: Electricity consumption in the 
Czech Republic fell by 3.1 percent year-on-year to 29.91 
terrawatt hours in the first half, mainly due to the warm 
winter. 
    Daily Pravo, page 16 
     
 
 
 (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] 
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 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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 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]