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Higher interest rates squeeze younger and lower-income households. 'A rate hike is a blunt tool,' says expert
Analysts say a quarter-point increase could add $2 billion in interest charges for credit card borrowers over 12 months.
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6 Articles
6 Articles
Sydney Morning Herald+4 Reposted by 4 other sources
WA households are feeling the pinch and making cuts – and one sector will face the most pain
Households were in a glum mood about the rising cost of living and readying to tighten their belts even before the Reserve Bank hiked up interest rates to a 15-year high on Tuesday.
·North Sydney, Australia
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Higher interest rates squeeze younger and lower-income households. 'A rate hike is a blunt tool,' says expert
The Federal Reserve raised interest rates and signaled potential additional increases, creating differential impacts on younger borrowers and lower-income households who face higher borrowing costs.
Coverage Details
Total News Sources6
Leaning Left4Leaning Right0Center1Last UpdatedBias Distribution80% Left
Bias Distribution
- 80% of the sources lean Left
80% Left
L 80%
C 20%
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