As the world enters 2022, it appears increasingly likely that this will be a year of progressively rising interest rates, not just in the US but around the world.

At long last, US Federal Reserve chair Jerome Powell has come to terms with the realisation that inflation in the US is not necessarily “transitory”, and at the last Fed meeting it was stated unequivocally that interest rates would rise in 2022 and 2023 in response to higher inflation...