Basically, the more demand there is for credit the higher interest rates will go. The central bank needs to inject liquidity into the market to stabilize those interest rates to keep credit growing at a rate that they feel comfortable with. They need to abandon inflation and just stabilize the market. The more the government needs to borrow and the longer it does at non-market interest rates, the more distortions, and that becomes the general market.
On March 24th, 2022. See this statement in context.