In a report on the European economy, S&P said the conditions for a rate rise will undermine a stronger euro and high oil prices, which will dent growth in major euro zone economies.
Growth in the euro zone is set to remain below 2.0pc in 2005, picking up "somewhat" in 2006, with inflation expected to remain below the ECB's official 2.0pc target, S&P said.
"These forecasts provide little grounds for the ECB to raise its benchmark rate, at least in 2005," said S&P chief European economist Jean-Michel Six."
4/27/05
Business World Ireland: ECB unlikely to up rates in 2005 - S&P
Business World Ireland"ECB unlikely to up rates in 2005 says S&P
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