Economic Recovery Means Higher Interest Rates

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.

A Filipino Engineer, Registered Professional Engineer of Queensland (RPEQ) - Australia and Professional Electrical Engineer (PEE) - Philippines with extensive experience in concept select, front-end engineering, HV & LV detail design, construction and commissioning of Hazardous and Non-Hazardous Area electrical installations in water and waste water pipeline and pumping facilities, offshore platforms, hydrocarbon process plants and pipelines including related facilities. Hazardous area classification and design certification (UEENEEM015B, UEENEEM016B, UEENEEM017B).

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