CEE MARKETS 2-FX stable ahead of key rate decisions

                                
 (Adds fixed income)
                                
 WARSAW, Dec 22 (Reuters) - Emerging Europe's currencies were
broadly stable on Monday ahead of rate decisions in Hungary and
Poland in thin pre-Christmas trade.
                                
 At 0955 GMT, the forint <EURHUF=> was 0.3 percent down on
the euro while the Polish zloty <EURPLN=> and the Romanian leu
<EURRON=> were little changed against the single currency.
                                
 "Volumes are relatively moderate ... Romanians working
abroad and other individuals are selling euros ahead of
Christmas," said one dealer with a foreign bank in Bucharest.
                                
 Dealers in Romania said the market was not moved by news
that all the centre-left cabinet's 20 ministers had passed
parliament hearings on Saturday as their endorsement was largely
expected.
                                
 Parliament will hold a confidence vote in prime minister
designate Emil Boc and his team at 1300 GMT.
                                
 In Hungary and Poland, markets await central bank decisions
on interest rates.
                                
 The National Bank of Hungary will maek an announcement at
1300 GMT and most analysts expect the bank to cut rates by
another 50 basis points to 10 percent, reversing some of an
emergency 300 basis point hike in October.
                                
 "I think they will go for 50 basis points this time because
of concerns over stability and then they will be able to cut
further, by up to 100 points, in January," a Budapest-based
currency dealer said.
                                
 Markets are pricing in a half-point rate cut from Poland's
Monetary Policy Council on Tuesday.
                                
 Bonds markets also remained quiet on lack of activity as
dealers said rate decisions are likely to be the key for any
further moves.
 ----------------------MARKET SNAPSHOT-------------------------
Currency                    Latest   Previous Local    Local
                                
                                  close    currency currency
                                
                                           change   change
                                
                                           today    in 2008 
Czech crown      <EURCZK=>   26.518   26.476   -0.16%    -0.08%
Polish zloty     <EURPLN=>   4.101    4.099    -0.05%    -13.9%
Hungarian forint <EURHUF=>   265.21   264.3    -0.34%    -4.89%
Croatian kuna    <EURHRK=>   7.241    7.239    -0.03%    +1.17%
Romanian leu     <EURRON=>   3.922    3.925    +0.08%    -9.55%
Serbian dinar    <EURRSD=>   85.281   85.85    +0.66%    -8.28%
Yield Spreads
Czech treasury bonds <0#CZBMK=>
3-yr T-bond   CZ3YT=RR   +9 basis points to  159bps over bmk*
5-yr T-bond   CZ5YT=RR   +4 basis points to  +149bps over bmk*
10-yr T-bond   CZ9YT=RR   +1 basis points to  +115bps over bmk*
Polish treasury bonds <0#PLBMK=>
2-yr T-bond   PL2YT=RR    -2 basis points to  +359bps over bmk*
5-yr T-bond   PL5YT=RR    -10 basis points to  +304bps over bmk*
10-yr T-bond PL10YT=RR    -10 basis points to  +255bps over bmk*
Hungarian treasury bonds <0#HUBMK=>
3-yr T-bond   HU3YT=RR    -37 basis points to  +767bps over bmk*
5-yr T-bond   HU5YT=RR    -51 basis points to  +709bps over bmk*
10-yr T-bond   HU10YT=RR +6 basis points to  +550bps over bmk*
*Benchmark is German bond equivalent.
All data taken from Reuters at 0955 CET.
Currency percent change calculated from the daily domestic 
close at 1500 GMT.

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 (Reporting by Reuters bureaus, Writing by Dagmara Leszkowicz;
editing by Tony Austin)