I wish central banks followed MMT and instead of interest rates they introduced the concept of minimum annual redemption. If the central bank wants to lower inflation without raising the interest rate it instead increases the minimum redemption rate. What this means is that your loan has to shrink by x% annually. The interest payments you would be paying instead are used to pay back the loan/destroy money faster. Interest doesn't destroy money, it circulates through the economy once so it is neutral on inflation. Higher interest rates mean higher monthly payments which means less demand for loans but the minimum redemption rate does the same thing but also destroys money faster so it eliminates inflation faster.