Czech cbank opens session, no rate change expected

PRAGUE, Nov 30 (Reuters) - Czech central bank (CNB) policymakers began a monthly meeting on Thursday amid universal market expectations that they will keep interest rates at the lowest level in the European Union for the second month running.

All 20 CNB watchers polled by Reuters last week predicted policymakers would hold the key two-week repo rate at 2.50 percent, a record 75 basis points below the euro zone level, after 75 basis points worth of hikes between October 2005 and September 2006.

A policy announcement is expected sometime after 12 p.m. (1100 GMT). A news conference usually follows at 3:30 p.m. (1430 GMT).

Thursday's meeting is the last for the board in the current composition. Two newcomers, appointed on Tuesday, will join the policy body on Friday and will vote on rates for the first time on Dec. 20.

Economists, as well as forward money market rates <CZKFRA>, anticipate the CNB will hold fire on Thursday after inflation fell below the bottom edge of its target and the currency rallied to lifetime highs against both the euro and the dollar. ((Reporting by Marek Petrus; Editing by Alan Crosby; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477))

Keywords: CZECH CENTRALBANK/