CEE MARKETS 1-Emerging FX up vs euro, rate meetings in focus

                                
 * Emerging currencies firm vs euro on global positive mood
                                
 * Investors eye rate-setting meetings in Romania, Poland
                                
 * Hungarian cbank releases quarterly inflation report
                                
 
                                
 BUCHAREST, March 30 (Reuters) - Emerging European currencies
firmed against the euro in early trade on Wednesday as global
risk appetite improved, with investors eyeing upcoming interest
rate decisions in Romania and Poland.
                                
 Stock markets were also gaining ground across the region,
led by Budapest <.BUX> which was up 0.8 percent on the day.
                                
 "Risk appetite looks better after the yen weakened, and
stocks are rising at the end of the month and quarter," one
Bucharest trader said.
                                
 By 0750 GMT, the Romanian leu <EURRON=> had firmed half a
percent to 4.0935 per euro, as foreign investors snapped up the
unit after two previous sessions of profit taking pushed it away
from a one-year high hit last week.
                                
 Romania's central bank is widely expected to keep interest
rates unchanged at 6.25 percent at its meeting on Thursday.
                                
 Persistently high inflation has led economists to revise
earlier expectations of rate cuts later this year, and most now
expect the central bank to keep rates frozen in 2011.
                                
 In Poland, the zloty was up 0.2 percent to the euro,
supported by expectations of a quarter point hike in interest
rates next week from the current 3.75 percent, as well as
expected inflows from planned government asset sales.
[ID:nLDE72S0OJ]
                                
 The Hungarian forint <EURHUF=> firmed 0.3 percent on the
day, after hitting a five-day low against the euro in the
previous session, in a corrective move after Budapest's central
bank held rates earlier in the week.
                                
 Investors were also looking at details Hungary's quarterly
inflation report. [ID:nBUS002300]
                                
 The central bank has said its new model report would give
clearer guidance to markets over possible future interest rate
trends by calculating the interest rate path which can bring
inflation back to the NBH's medium-term 3 percent target.
                                
 Hungary's central bank left its key base rate at 6 percent
<NBHI> on Monday and signalled that rates could stay on hold for
a sustained period.
                                
 Traders said expected results of stress tests on Irish banks
could refuel fears of unsolved problems in the European
financial sector and could possibly weaken emerging currencies.
 --------------------------MARKET SNAPSHOT--------------------
Currency                    Latest   Previous Local    Local
                                
                                  close    currency currency
                                
                                           change   change
                                
                                           today    in 2011 
Czech crown      <EURCZK=>   24.536    24.534   -0.01%   +1.89%
Polish zloty     <EURPLN=>   3.988    3.994     +0.15%   -0.75%
Hungarian forint <EURHUF=>   267.21    267.82   +0.23%   +4.03%
Croatian kuna    <EURHRK=>   7.374    7.382     +0.11%   +0.08%
Romanian leu     <EURRON=>   4.095    4.12      +0.61%   +3.37%
Serbian dinar    <EURRSD=>   103.51    103.49   -0.02%   +2.34%
All data taken from Reuters at 1003 CET.
Currency percent change calculated from the daily domestic 
close at 1600 GMT.
For related news and prices, click on the codes in brackets: All
emerging market news [EMRG]
Spot FX rates
Eastern Europe spot FX <EEFX=>    Middle East spot FX <MEFX=>
Asia spot FX <ASIAFX=>       Latin America spot FX <LATAMFX=>
Other news and reports  
World central bank news [CEN]  Economic Data Guide <ECONGUIDE> 
Official rates [GLOBAL/INT]  Emerging Diary [EMRG/DIARY] 
Top events [M/DIARY]  Diaries [DIARY] Diaries Index [IND/DIARY] 
 (Reporting by Reuters bureaus; Writing by Luiza Ilie; Editing
by Catherine Evans)