The yen won't budge: What's driving Japan's currency crunch

The Bank of Japan just hiked interest rates to their highest level since 1995 – and the yen barely moved. It's still hovering near multi-decade lows, even after Tokyo reportedly spent ¥12 trillion defending it earlier this year. So what's actually going on? Hairianto Diman unpacks why monetary policy isn't working and what role government spending is playing with Dr. Martin Schulz, Chief Economist, Fujitsu See omnystudio.com/listener for privacy information.