Families to Experience More Financial Stress: Minister

Families to Experience More Financial Stress: Minister
Australian banknotes in Melbourne, on Nov. 7, 2017. Paul Crocker/AFP via Getty Images
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The Australian assistant treasurer has flagged further stress for household budgets following a spike in U.S. interest rates.

The U.S. Federal Reserve announced a 0.75 percentage point increase in official rates to a target range of three to 3.25 per cent, the highest levels in almost 15 years.