Interest rate hike coming? What you need to know

The Federal Reserve’s Open Market Committee meets for the final time this year on Wednesday, and is widely expected to announce the first interest rate hike since 2006. The expectation has been based on Fed Chair Janet Yellen’s oft-repeated stance that she’d like to see rates rise before the end of 2015.

Higher interest rates will have far-reaching implications for every corner of the world economy, from your mortgage rate to emerging market trade. CNBC’s ongoing coverage — and what it means for your money — is being collected here.

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