I don't see how raising interest rates is supposed to affect supply-side price increases.
For example, people may choose to save their money, or not borrow (given higher interest rates), instead of buying fuel, but that is unlikely to affect it's price.
This seems more like an attempt to strangle wage increases.
For example, people may choose to save their money, or not borrow (given higher interest rates), instead of buying fuel, but that is unlikely to affect it's price.
This seems more like an attempt to strangle wage increases.