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Discover LudwigThe phrase "a rate hike" is correct and usable in written English.
It is typically used in the context of finance or economics to refer to an increase in interest rates set by a central bank or financial institution.
Example: "The Federal Reserve announced a rate hike, which is expected to impact borrowing costs for consumers and businesses."
Alternatives: "an interest rate increase" or "a rise in rates".
Exact(59)
We're expecting a rate hike in June".
The alternatives to a rate hike were unpalatable.
A rate hike now would threaten the recovery, Kern said.
Well, is the economy strong enough for a rate hike?
"You can't rule out a rate hike in the fall".
A rate hike would be another shock to the system.
It resisted a rate hike in September, and may now not act this year.
Good retail sales numbers made a rate hike by the US Federal Reserve almost certain.
(Twenty-five basis points would mean a rate hike of 0.25percentnt).
Some members indicated that a rate hike might be appropriate "relatively soon".
So a rate hike was the only plausible way to make a statement.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com