The International Monetary Fund has warned the US Federal Reserve against raising interest rates this year.
A rise risks adding to the growing economic and political threats to US growth, the IMF said in a health check on the world’s largest economy.
Many economists had forecast a rise in September, although recent economic and jobs data had dampened expectations.
The Washington-based IMF also warned that US share prices were hitting unsustainable levels.
A rate rise would trigger more gains in the value of the dollar, something that the IMF has said previously this year could stall growth and impact across emerging markets.
The dollar has risen about 20% against a basket of currencies during the past 12 months.
On Tuesday, the IMF said “growth could be significantly debilitated” by another rise in the dollar. Barring a major change in circumstances, the organisation urged keeping rates at the current 0.25% “into the first half of 2016 with a gradual rise in the federal funds rate thereafter”.