Japan's Iwata on unwinding yen carry trades

Bank of Japan deputy governor Kazumasa Iwata said Wednesday 7 March recent financial market developments, including the unwinding of yen carry trades, were "technical position adjustments" by investors who have been "complacent" about asset price volatility.

Iwata told a business community in the northern Japanese port city of Niigata that the core consumer price index might register a drop from year-earlier levels in the coming months but that it should show "a gradual uptrend" going forward.