FRANKFURT (AFX) - The European Central Bank is likely to leave its main refinancing rate at 3.25 pct at next Thursday's governing council meeting, with a rate hike only likely from September at the earliest, according to a poll of economists by AFX News and Agence France-Presse. Economists said while a rate hike remains on the cards, the appreciation of the euro and uncertainty about global growth prospects has allowed the ECB a greater breathing space than previously assumed before making the move. Of the 33 economists polled, all 33 said they expect the minimum bid rate on ECB refinancing operations to be kept at 3.25 pct at Thursday's meeting, which will take place in Luxembourg Of the economists surveyed, 21 expect a hike in September or October. Many economists have delayed their predictions for a rate hike following the euro appreciation and comments by ECB policy makers this week. However, only three banks - Dresdner Kleinwort Wasserstein, Chevreux and CCF - are expecting rates to remain on hold throughout the rest of the year. Some 11 economists in the poll see rates at 3.50 pct going into 2003, but a majority of 18 see a tightening of 50 basis points to 3.75.