ECB member warns on oil price impact to growth

European Central Bank governing council member Vitor Constancio warned on Tuesday 28 September that high oil prices have not yet hurt global economic growth rates and inflation but the risks of a negative impact on both are real.

"The rise in oil prices has not had up until now a significant impact on economic growth or inflation," he told a conference of central bankers from Portuguese-speaking African nations and East Timor.

"But if prices remain at such a high level that will have consequenc

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