I am not an economist but l am a consumer who will be affected, one way or another, by the rising interest rates.
Government officials say recession is finally over. There are now more job offers than on the time last year. Big projects are on the line-up which will boost higher demand on manpower. It is really looking good isn’t it?
Today, there is another increase in interest rate. Mortgage holders need to pay more which means less net take home pay. Hopefully, basic commodities will not be affected as this will directly affect the lowly consumer.
Economic recovery or not, the ordinary consumer need to tighten its belt to survive. But having a job (economic recovery) will be much better than having no job (recession) at all.