Why should you care about rising interest rates?

When central banks raise interest rates, it’s big news The bank is judging... ...that the only way they can try to pull down inflation... ...is to carry on raising interest rates We’re going to see rising rates Rising interest rates that will make the cost of borrowing go up It can send ripples across the whole economy It can sink consumer confidence... ...result in fewer jobs and lower wages, and cause stock prices to fall If they go too far too fast, it can tip economies into recession So why do central banks raise interest rates?