What is an interest rate hike?
An example of an AI chatbot conversation about interest rate hikes and their implications.
What is an interest rate hike?
An interest rate hike is an increase in the cost of borrowing money, typically set by a central bank.
Why do central banks decide to raise interest rates?
Central banks raise interest rates to control inflation, stabilize the economy, and encourage saving.
How does an interest rate hike affect loans?
It makes loans more expensive, which can reduce borrowing and spending by consumers and businesses.
What are the potential benefits of an interest rate hike?
Benefits include controlling inflation, strengthening the currency, and promoting savings.
Can interest rate hikes lead to a recession?
Yes, if rates are raised too quickly, it can slow down economic growth and potentially lead to a recession.
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