how much interest rates affect our economy

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A common man thinks more the rates, more the benefit. high rates automatically increase your deposit rates and also the loan rates too. so in a genaral term, depositors get the benefit. but think how much we loose.... if banks or finacial houses give loans on higher rates automatically every single commodity prices increase. It leads to more spending from your pocket. houses will cost more. construction materials will cost more. products of your daily use automatically increases. now think, how much benefit u r getting?