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Only partially true. Rate rises make credit more expensive/difficult to attain. This reduces demand. It also reduces supply (as producers don't invest in the supply side as much) but not as much. So the more debt you're in the more they effect you personally (that's the demand side).

Price fixes would only create shortages. 

But there's a lot more going on/causing problems with inflation than interest rates being too low. There's a lot (like a lot) of supply side and structural problems that rate rises can not/will not do a damn thing to fix.

Those things are almost entirely outside the control of central banks however. Central banks control monetary policy so they use the tools they have.

If they aren't the right tools for the job (and they're mostly not) then you need to start looking at/pointing the finger at those who do have the necessary tools to fix it (government).

Hence my endless posts about how A: interest rates are an extremely blunt instrument and B: that the problems go much deeper than just the supply of credit and to focus on interest rates is to fall for a classic misdirect.

If you want to start pointing fingers, point them at 20+ years of economic mismanagement.

I made the post about canada reflecting the problems (and causes of the problems) of australia for a reason. 

Same as I keep making endless posts about the problems being much more ingrained/structural than markets are pricing in (realising) and to focus on the long end of the yield curve because of this for a reason