Interest Rates Have Risen To Their Highest Since 2009. This Is Why That Matters
Essentially, if it costs more to borrow money, people are less likely to lend it, which should steady out the sudden changes in the economy.
Article source: https://www.huffingtonpost.co.uk/entry/why-have-interest-rates-increased-inflation_uk_62ab19eae4b0cf43c8533a92