Inflation stems from of a broad supply & demand mismatch. Debasement comes from excessive financial and real money creation.
Banks pay each other using bank reserves and HQLAs - forms of money for the financial system.
Real economy money is created through credit by the government and commercial banks, and the central banks have little to do with it.
Real economy money is created through credit by the government and commercial banks, and the central banks have little to do with it.