"Interest rates hike do cause short-term inflation" Do you care to expand? This is the first time I'm hearing somebody say this. I've always believed it is exa

"Interest rates hike do cause short-term inflation" Do you care to expand? This is the first time I'm hearing somebody say this. I've always believed it is exactly opposite; raising interest rates motivates people to save more and borrow/ spend less: because people are spending less there is less demand and so it removes the upward pressure on prices.