Brussels, 24/11/2004 (Agence Europe) - The Banking Federation of the European Union (FBE), which represents 4,500 banks in 18 countries, believes that the euro zone will be the only major region in the world in which growth will not drop off in 2005. Although the Commission, the ECB and other institutions have revised their figures downwards due to oil prices and the weak dollar, the FBE does not share the view that these factors will harm the economic activity of the Twelve. In the euro zone, growth may even rise from 1.8% to 2%, according to FBE economists. At a press conference, Martin Hüfner, President of the FBE's committee on economic and monetary affairs, said that the euro zone was not "in a red alert situation, but we do feel that the environment carries more risks". In the new Member States, particularly Poland, Hungary, the Czech Republic and Slovakia, the FBE predicts growth of at least 4%. The volatility of the exchange rate is a greater risk for the euro zone, states the FBE, which forecasts an exchange rate of an average of 1.30 dollars to the euro for 2005. Inflation will also remain under control and monetary policy is likely to remain the same until mid-2005, anticipates Mr Hüfner, who did however acknowledge that there are "few attractive investment opportunities".