Interest rates have risen to 15-year highs and are pushing up mortgage default risks – but household spending is still growing.(利率已升至15年高位，推高了房贷违约风险——但家庭支出仍在增长。)
利率已升至15年来的最高点，房贷违约风险随之上升——但家庭支出仍在增长。
Economists say the surprising result shows this year’s four rate hikes have not yet fully hit the economy and may be less effective at fighting inflation than they used to be.(经济学家称，这一意外结果表明今年四次加息尚未完全传导至经济，且效果可能不如以往。) If true, that could mean more interest rate rises are on the way.
经济学家表示，这一出人意料的结果表明，今年的四次加息尚未完全传导至经济，而且其抑制通胀的效果可能不如以往。若果真如此，那可能意味着还会有更多加息。
So are interest rate hikes work(奏效；起作用)ing?
那么，加息到底奏效了吗？
What is the RBA trying to achieve by increasing interest rates?
澳联储加息究竟想达到什么目的？
Do higher mortgage rates cut household budgets?
更高的房贷利率会压缩家庭预算吗？
Will falling house prices discourage spending?
房价下跌会抑制消费吗？
What about exchange rates?
汇率方面又如何？
How does higher unemployment stop inflation?
更高的失业率如何抑制通胀？