US businesses feel pinch as rates rise

The US Federal Reserve has pushed interest rates up once again. It's the latest move in an effort to curb soaring prices, but some analysts believe it's too late to act. We speak to two businesses - Oregon bakery owner Irina Sirotkina and Virginia store owner Kevin Hubbard - about the effect it will have on them.

We also visit Bangladesh, the latest southern Asian country to ask the IMF for a bailout. Wahid Choudhury runs a software business there, and explains why there's a real sense of fear surrounding the economy.

To discuss the issues of the day, Business Matters is also joined by two guests on the other side of the world: Paddy Hirsh, contributing editor at NPR in the US; and Moneeza Butt from KPMG in Karachi.

(Picture: Traders on the floor of the New York Stock Exchange react to the Fed's latest decision. Credit: Getty Images).