CEE MARKETS 2-FX steady before cbank meetings, Polish bonds ease

                                
 * Czech crown steadies before c.bank
                                
 * Longer-dated Polish bonds ease after 2-yr tender
                                
 * Hungarian output fall slows, Czech trade in surplus
                                
 
  (Adds details, bonds)
                                
 By Jason Hovet
                                
 PRAGUE, Aug 6 (Reuters) - Central European currencies mostly
steadied on Thursday from losses earlier this week, with the
crown a touch up before a Czech central bank decision expected
to leave interest rates at a record low for now.
                                
 Czech policymakers end the latest round of policy meetings
in central Europe sometime after 1000 GMT, and a Reuters poll
gave a majority of just one in forecasting interest rates will
stay at 1.5 percent. [ID:nLT506043]
                                
 The crown <EURCZK=>, after dropping 1.5 percent this week to
a three-week low, held steady at 25.915 per euro on Thursday.
                                
 "The crown has moved back to a level that the central bank
is probably happy with," one Prague dealer said. "If there was a
change, it could move the market."
                                
 The central bank has forecast an average crown exchange rate
of 26.6 to the euro for 2009.
                                
 Markets were also looking to central banks in the euro zone
and Britain to leave interest rates unchanged on Thursday.
                                
 In Poland, the zloty <EURPLN=>, which is more than 5 percent
up since the start of July, was a touch down from almost
seven-month highs, bidding at 4.13 to the euro by 0734 GMT.
                                
 Polish bonds also pulled back from Wednesday's gains brought
by a well-bid 2-year auction [ID:nL5268030], with mainly the
longer-end of the curve giving up gains.
                                
 "The tender was successful but one must remember that it
took lots of money from the market," said Remigiusz Zalewski,
dealer at BRE bank in Warsaw.
                                
 
                                
 CEE "GREEN SHOOTS"
                                
 Hungary's forint <EURHUF=> was steady at 268.2 to the euro,
and the Romanian leu <EURRON=> dipped to 4.203. 
                                
 Stocks mostly stayed on firmer ground, with Prague's bourse
adding 2.2 percent behind banking gains as results seasons come
off better than expected.
                                
 The Prague index <.PX> has added 27 percent since July 1,
and posted its largest monthly gain this decade in July.
                                
 Promising signs for the global economy have pushed investors
to add more riskier assets to portfolios, benefiting central
Europe's stocks, bonds and currencies.
                                
 Analysts say there are some signs that economic falls may
have hit bottom. On Thursday, Czech trade data showed the double
digit drop in exports slowed in June, although imports fell more
to put the country's balance in surplus. [ID:nL6640358]
                                
 In Hungary, among the worst hit of central Europe's export
economies, the industrial drop slowed in June and showed a
second consecutive monthly rise. [ID:nL657735]
                                
 Central banks in the region have eased rates this year to
boost contracting economies, although Poland has avoided the
shrinkage its more export-oriented neighbours have seen.
                                
 Romania cut interest rates by a half percentage point this
week to bring its rate to 8.5 percent, on par with Hungary,
where rate setters cut by 100 basis points last week.
                                
 Polish central bankers, who along with the Czechs have taken
rates to record lows, held rates steady at 3.5 percent last
week.
                                
 
--------------------------MARKET SNAPSHOT--------------------
Currency                    Latest   Previous Local    Local
                                
                                  close    currency currency
                                
                                           change   change
                                
                                           today    in 2009 
Czech crown      <EURCZK=>   25.915   25.952  +0.14%    +3.23%
Polish zloty     <EURPLN=>    4.131    4.117  -0.34%    -0.39%
Hungarian forint <EURHUF=>  268.21   268.4    +0.07%    -1.74%
Croatian kuna    <EURHRK=>    7.34     7.339  -0.01%    +0.34%
Romanian leu     <EURRON=>    4.203    4.197  -0.14%    -4.49%
Serbian dinar    <EURRSD=>   93.21    93.217  +0.01%    -4%
Yield Spreads
Czech treasury bonds <0#CZBMK=>
2-yr T-bond   CZ2YT=RR   +46 basis points to  131bps over bmk*
4-yr T-bond   CZ4YT=RR   +1 basis points to  +126bps over bmk*
8-yr T-bond   CZ8YT=RR    -4 basis points to  +250bps over bmk*
Polish treasury bonds <0#PLBMK=>
2-yr T-bond   PL2YT=RR    -5 basis points to  +345bps over bmk*
5-yr T-bond   PL5YT=RR   +4 basis points to  +287bps over bmk*
10-yr T-bond PL10YT=RR   +1 basis points to  +267bps over bmk*
Hungarian treasury bonds <0#HUBMK=>
3-yr T-bond   HU3YT=RR    -9 basis points to  +672bps over bmk*
5-yr T-bond   HU5YT=RR   +2 basis points to  +610bps over bmk*
10-yr T-bond   HU10YT=RR  0 basis points to  +530bps over bmk*
*Benchmark is German bond equivalent.
All data taken from Reuters at 1112 CET.
Currency percent change calculated from the daily domestic 
close at 1500 GMT.
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 (Reporting by Reuters bureaus, writing by Jason Hovet; Editing
by Stephen Nisbet)