Czech Republic - Factors To Watch on Feb 15

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RETAIL SALES

December retail sales and four-quarter service sales are due for release at 9 a.m. (0800 GMT).

- For real-time economic data releases and market consensus forecasts, double click on the code in brackets:

NON-POLICY C.BANK MEETING

The central bank board holds a regular weekly meeting. It is not scheduled to discuss monetary policy issues.

[RTRS-LEN-CZ-CEN]

TREASURY BILLS

The finance ministry offers a tranche of 13-week Treasury bills through an auction.

- For auction details and results, double click on .

FOCUS ON JANUARY INFLATION

Consumer inflation ebbed unexpectedly in January to run at one of the slowest rates in the European Union, leading investors to abandon expectations of an interest rate rise before the second half of the year.

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The 1.3 percent annual rise in consumer prices in January came in between 0.2 and 0.3 percentage points below the central bank's (CNB) forecast.

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Debt markets rallied and the crown weakened on the news.

- For INSTANT VIEW of inflation data, double click on the code in brackets: [ID:nL14928952].

CEZ SALE OPTIONS MULLED

The most likely option for the sale of the state's stake in power company CEZ is still the direct sale of between 6 and 7 percent of shares worth an estimated 30 billion crowns ($1.39 billion), to be be offset by a buyback of the same amout of shares by CEZ on the capital market, writes the daily Hospodarske Noviny (page 1), quoting unspecified sources.

The daily adds, however, there is also the possibility that the government will not sell the shares and that ministries will draw on budget reserves to make up for a budget revenue shortfall and help fund road construction.

INDUSTRIAL OUTPUT

Industrial output rose by a weaker than expected 3.0 percent year-on-year rate in December, from a 7.6 percent growth rate in the previous month.

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ORCO SHARES JUMP

Shares in real estate firm Orco Property Group rallied after Morgan Stanley started its coverage with an 'overweight' recommendation.

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U.S. MISSILE SHIELD

President Vaclav Klaus said on a visit to Japan that if the country were to host part of a U.S. missile defence shield, it would not be aimed at Russia.

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NATO must do more to reassure Russia over a planned U.S. missile shield to be built in Poland and the Czech Republic, Germany's Defence Minister said.

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- For previous stories on the missile shield to be located in Poland and the Czech Republic, click on [RTRS-LEN-CZ-US-DIP].

- For most recent news on Czech politics, double click on the code in brackets: [RTRS-LEN-CZ-POL]

Overview of past economic data and market forecasts 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

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

((Compiled by Marek Petrus; 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)) ($1=21.57 Czech Crown)

[PRAGUE/Reuters/Finance.cz]