According to the central bank's most recent projections, rates will stay where they are for most of 2024 and will fall only slightly in 2025, ending the year at about 4 percent-more than twice as high as in late 2019.
The core irony of raising rates to tame inflation is that higher rates can make major purchases-like a car or, especially, a house-more expensive, because most people take out loans to make them.
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