IMF doesn't expect dramatic commods market correction

CANBERRA, June 13 (Reuters) The International Monetary Fund (IMF) does not expect a dramatic correction to world commodity markets, the body's managing director Rodrigo Rato said on Monday, adding the world growth outlook remained expansionary.

''We don't see a dramatic correction,'' Rato told Australia's National Press Club in Canberra.

World commodities markets have eased in the past couple of weeks on concerns about global growth.

But Rato said the growth in commodities prices had been strong in recent times, and had added to worldwide inflationary pressures.

He said the IMF's outlook for world growth for 2006 was a ''very healthy'' figure of around 5 percent, with a minor correction forecast for 2007.

''So we're still in a very broad-based expansion in the world,'' he said. ((MARKETS-AUSTRALIA-IMF, reporting by James Grubel, editing by Andrew Callus; james.grubelzreuters.com; Reuters Messaging: james.grubel.reuters.comzreuters.net, +612 6273 2730)) REUTERS KD PM1034