Seriously!!! Do central banks really think the only took at their disposal is base interest rate???
Mortgage rates, and home prices is going up (not what they want) but gas prices are going down (also not what they want). This clearly highlights that base interest rate, suprise suprise, doesn’t impact the price of average daily goods, that people don’t borrow for.
So, instead of increasing the cost of borrowing in the [false] hopes of controlling the economy. Why not, simply increase tax on gas??? That’d offset the reducing gas price while also increasingly government income and might even free up some capital for climate projects like solar subsidies.