Fin24

Marcus: Quake will affect us all

2011-03-15 09:28

Johannesburg - The Japanese earthquake and subsequent tsunami are going to take a toll not just on that country but on the rest of the world, according to SA Reserve Bank (SARB) governor Gill Marcus on Tuesday.

Marcus was speaking at a Business Unity SA and World Bank gender economic empowerment workshop in Johannesburg.

"(The) reconstruction of Japan is going to be an enormous task," Marcus said.

She also said the central bank remains concerned about the impact of rising oil and food prices on the outlook for inflation.

The bank will meet on March 22 to 24 to deliberate on interest rates. It said at its previous meeting oil and food prices were the main risks to the inflation outlook. South Africa's annual inflation quickened to 3.7%  in January.