What interest rate hikes mean for you and the economy – ABC News

Rate hikes impact people in largely negative ways, experts told ABC News.The Federal Reserve on Wednesday dramatically escalated its fight to dial back historic inflation, raising its benchmark interest rate by 0.75%, the largest rate hike since 1994. The move offers hope that sky-high prices for essentials like fuel and groceries will eventually come down.The … Read more

Australia’s GDP grew 0.6% in September quarter and 5.9% annually as economy recovered from Covid lockdowns – The Guardian

GDP figures show rapid economic growth across the year as Covid lockdowns were lifted, but quarterly increase came in slightly below expectationsAustralia’s economy slowed more than expected in the September quarter with consumers drawing on savings to shore up spending as property services shrank.The nation’s GDP expanded at a quarterly rate of 0.6% in the … Read more