CEE MARKETS 2-Forint flat ahead of rate decision, other FX mixed

                                
 * Forint touch stronger ahead of rate decision
                                
 * IMF approves $30 bln for Poland, reviewing Romania
                                
 * Poland offers 27-wk tbills, Romania 7-month tbills
                                
 
 (Adds fixed income, detail)
                                
 WARSAW, Jan 24 (Reuters) - Hungary's forint trimmed early
moderate gains on Monday as markets awaited a Hungarian interest
rate decision while other regional currencies were little
changed.
                                
 Nineteen of 25 analysts polled by Reuters expect the
National Bank of Hungary to raise its base rate by a quarter of
a percentage point to 6 percent after it delivered two increases
of 25 basis points each in November and December.
[ID:nLDE70J004]
                                
 The forint <EURHUF=> was virtually unchanged at 0932 GMT
after giving up earlier gains, with analysts saying the upside
for the currency was limited.
                                
 "Due to the ex-ante downtrend in EUR/HUF ahead of the rate
hike there is hardly any further downward scope in case of an
actual rate hike," analysts at Commerzbank wrote in a note.
                                
 "If key rates remain unchanged, disappointment might push
the currency pair up towards 278."
                                
 The rate decision is scheduled for 1300 GMT and the central
bank's news conference for 1400 GMT.
                                
 Hungary's 3x6 forward rate agreements <HUFFRA>, which
project where rates will be in the next three months, price in a
34 basis points rise, or one guaranteed increase of 25 basis
points and a small chance of more.
                                
 On the bond market, Poland will offer up to 1.2 billion
zlotys in 27-week treasury bills on Monday, while Romania will
offer seven-month treasury bills.
                                
 
                                
 IMF
                                
 The International Monetary Fund approved a new 30 billion
dollar credit line for Poland late on Friday, the country's
third since 2009 and by far the largest. [ID:nN21212819]
                                
 Market players said the decision was widely expected and so
should not have an impact on the zloty.
                                
 Poland was the second country, following Mexico, to seek
access to the IMF facility, which is designed for emerging
economies with solid economic fundamentals.
                                
 The IMF was also in play in Romania, where it will give its
final review of the country's 20 billion euro bailout.
                                
 Analysts expect Bucharest to secure the final tranche of
loans from the current deal and seal a fresh precautionary
agreement. [ID:nLDE70D18E]
                                
 A successful review and a new deal would reassure markets,
lending support to the leu <EURRON=> and will likely reduce the
government's borrowing costs, analysts say.
                                
 By 0932, the zloty <EURPLN=> and the Czech crown <EURCZK=>
each fell some 0.1 percent, while Romania's leu <EURRON=> was
some 0.1 percent stronger.
--------------------------MARKET SNAPSHOT--------------------
Currency                    Latest   Previous Local    Local
                                
                                  close    currency currency
                                
                                           change   change
                                
                                           today    in 2011 
Czech crown      <EURCZK=>  24.283   24.256   -0.11%   +2.95%
Polish zloty     <EURPLN=>   3.875    3.873   -0.05%   +2.14%
Hungarian forint <EURHUF=> 274.18   274.08    -0.04%   +1.39%
Croatian kuna    <EURHRK=>   7.391    7.394   +0.04%   -0.15%
Romanian leu     <EURRON=>   4.267    4.269   +0.05%   -0.8%
Serbian dinar    <EURRSD=> 104.51   104.48    -0.03%   +1.36%
Yield Spreads
Czech treasury bonds <0#CZBMK=>
2-yr T-bond   CZ2YT=RR    -5 basis points to  46bps over bmk*
7-yr T-bond   CZ7YT=RR    0 basis points to  +76bps over bmk*
10-yr T-bond   CZ9YT=RR   +2 basis points to  +85bps over bmk*
Polish treasury bonds <0#PLBMK=>
2-yr T-bond   PL2YT=RR   +1 basis points to  +369bps over bmk*
5-yr T-bond   PL5YT=RR   +1 basis points to  +343bps over bmk*
10-yr T-bond PL10YT=RR   +1 basis points to  +317bps over bmk*
The P
Hungarian treasury bonds <0#HUBMK=>
3-yr T-bond   HU3YT=RR   +1 basis points to  +547bps over bmk*
5-yr T-bond   HU5YT=RR   +4 basis points to  +514bps over bmk*
10-yr T-bond   HU10YT=RR +2 basis points to  +445bps over bmk*
*Benchmark is German bond equivalent.
All data taken from Reuters at 1032 CET.
Currency percent change calculated from the daily domestic 
close at 1600 GMT.
                                
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 (Reporting by Reuters bureaux, Writing by Dagmara Leszkowicz,
editing by Catherine Evans)