Caribbean Broadcasting Corporation

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Economist: Possible fallout from US, UK interest rate hikes

March 23, 2023

Several major central banks around the world are raising interest rates in order to calm inflation.

This revelation comes one day after the United States raised its interest rates by a quarter of a percentage point.

Economist Dr. Justin Ram, speaking to the Morning Report, says the high inflation came about through several factors since 2022.

Given Barbados’ tourism numbers from the US and the UK markets, he believes there will be some level of fallout, as purchasing power will be affected.

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