Rato: Economic impact of oil may not remain benign

IMF managing director Rodrigo Rato said in an article that there is a risk that the economic impact of high oil prices may not continue to be as benign as it has been up to now.

'So far, the impact of higher energy prices in industrial countries has been surprisingly benign...higher oil prices have merely moderated strong global output growth, rather than having a serious drag,' Rato said in an article in the International Herald Tribune.

'But such benign conditions may not persist, as is beco