Interest rates move inexorably higher

Interest rates around the world appear to be ratcheting upwards yet again, with the latest round of increases being made by Central Banks around the globe.

The Reserve Bank of Australia just raised interest rates by 25 basis points, the European Central Bank is likely to increase rates again soon as is the US Federal Reserve when its meets next week.

Perhaps most significantly, even Japan is participating, having recently ended its zero interest rates policy and increasing rates for the first time in six years.

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