ECB to hold rates,say experts

THE European Central Bank (ECB) is likely to leave interest rates on hold this year as it awaits clear signs of economic recovery.

However, despite speculation of a cut, analysts still think the ECB's next move will be a rise.

The mid-range of 29 forecasts in a Reuters survey, taken from August 12 to 15, showed the ECB's key interest rate remaining at 3.25% until a quarter point rise in the second quarter of 2003.