How do higher interest rates affect inflation?

The 13th interest rate increase since May 2022 has re-ignited the debate about the use of higher interest rates to fight inflation.

Yesterday, the Reserve Bank of Australia raised interest rates for the 13th time since May 2022, based on inflation.

That decision, which ended a four-month streak without rate rises, has re-ignited the debate about how higher interest rates affect inflation.

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