Understanding interest rates When a central bank 'pays' interest rate X / year, what does it mean exactly? Is that pure money printing? Where does that money (interest rate) come from? does it increase the debt of the country?

A popular way to fight high inflation is to increase interest rate, but doesn't that mean printing more money -> more inflation?

Thank you!
When a central bank 'pays' interest rate X / year, what does it mean
  exactly?


It means that by lending to the central bank \$100/(1+X) at the beginning of the year, the central bank will pay \$100 at the end of that year.


  A popular way to fight high inflation is to increase interest rate,
  but doesn't that mean printing more money -> more inflation?


Not necessarily. Increasing the interest rate may attract cash flows from foreign lenders/investors. The effects of it on the exchange rate (appreciation of the local currency), currency reserves, and/or trade balance tend to alleviate the need to merely print more money in the local economy.