Interest rates' impact on money: Higher rates can lead to higher mortgage payments and discourage prospective buyers, but they can also boost savings returns. Gold prices fell as the dollar strengthened, raising fears of rising interest rates. The Bank of England is expected to raise interest rates to 5.25% in an effort to combat high inflation, with mixed effects on borrowing costs and savings. The Federal Reserve has raised interest rates, affecting various consumer borrowing and reshaping the U.S. economy as rates climb.

Interest Rate Impact on Money

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