According to thinkers such as Carl Menger and Ludwig von Mises, interest is the outcome of the fact that individuals assign a premium to present goods against identical goods in the future (i.e., time preference). The preference is not the result of capricious behavior but because life in the future is not possible without sustaining it first in the present. On this Carl Menger suggested,

Yes, they can set the interest rates, but they cannot set the natural interest rates that are necessary for economic calculation and clearing markets. The Central Bank sets rates by political decisions, only. Could you show me proof that they set them any other way?