You have it backwards. Interest rates increase the cost of doing business. They cause more inflation. Not only that, higher interest rates encourage banks to cr

You have it backwards. Interest rates increase the cost of doing business. They cause more inflation. Not only that, higher interest rates encourage banks to create more risky /predatory loans. They add to risk and add to cost of everything. What would reduce inflation is to improve supply side. More diverse services and goods for people to spend money on will reduce inflation. Increasing interest rates just increases inflation to the point people start going bankrupt and demand drops because people are destitute. Not a great way to do it...