> So the central bank interest rate isn't targeted to be 2%, but it will be somewhere close to it: too high, and they drive inflation well above 2% all on their

> So the central bank interest rate isn't targeted to be 2%, but it will be somewhere close to it: too high, and they drive inflation well above 2% all on their own. Isn't it the reverse relationship? Increased rate decrease the velocity of money and decrease inflation? (At the risk of causing a recession) Central banks have been raising interests to fight inflation so far.