The Reserve Bank of Australia has this week left the official cash rate unchanged at an historically low 1.5 per cent.
But US Federal Reserve chair Janet Yellen has signalled that US rates could increase sooner rather than later.
Some Australian analysts are tipping that an American rate rise could occur this month and Australian borrowers should be prepared.
Is a rate rise warranted in Australia? Would it stifle already subdued consumer spending or will it help people, such as seniors, who have bank term deposits?