A rise in interest rates makes it more expensive for companies to borrow money. This is because financial institutions pass on the increase in interest rates to their customers. Businesses in turn may pass on the higher cost of borrowing to their customers by raising the prices of their goods and services. On the other hand, individuals also face higher credit card and mortgage interest rates, which lowers their disposable income. Due to this contraction of disposable income along with higher prices of goods and services, people reduce their consumption, adversely impacting the sales and profitability of businesses. For further information about best app to buy cryptocurrency.
