Global inflation: five ways the US rate hike could affect you.

The U.S. central bank has announced the largest rate hike in nearly 30 years as it accelerates its fight to contain rising consumer prices.

It raised the rate the Federal Reserve required for banks to borrow money by three-quarters.

The results will be felt in nearly every corner of the economy, in the US and abroad.

Here are five ways the U.S. rate hike might affect you.
More expensive mortgages and other loans.

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