Explanation:
Rising interest rates typically make debts more expensive (to acquire and service) while creating higher income for savers (in the form of increased rent income and loan interest income). The rise in interest rates, in general, affects businesses in diverse ways, including a fall in revenue; firms with overdraft obligations will have higher costs since they must now pay more interest to service the debt. It is important to understand the likelihood of what will happen to your business finances in dealing with the potential increase in interest rates
