I like citing the Bank of England on interest rates v inflation

Higher interest rates mean higher payments on many mortgages and loans, meaning people must spend more on them and less on other things. Saving becomes more attractive because the returns are higher and it becomes more expensive to take out a loan. These things all discourage consumers and businesses from spending.

The explicit reason to raise interest rates is so that poor people in debt have less money and can't buy stuff they likely need, and we give that money to rich people as a payment for not spending it.

Oh you're drowning in debt and can't buy food? Sorry pal but that's literally the explicit, intended effect. Now pay Mr Moneybags another hundred so he doesn't increase the demand on golden yachts.

For comparison, China far more heavily relies on other mechanisms to control money/goods supply. Their interest rate is significantly more stable, and their inflation rates continue to be low despite massive growth. Which has resulted in people earning more money while food, necessities, and houses are not becoming equally more expensive. Which is an alien concept to my western brain.