As of yet the printing of interest has a trivial impact on inflation, but it is quite possible that it will increase rapidly.
In that case we will have to rely on good stewardship of the witnesses to recognize when demand for HBD savings is actually too high and detrimental for core Hive token. In such a scenario they should dial down interest, and savers should start to exit HBD savings as it is less attractive with lower returns. We will see if that actually happens, of course.
But in this case demand for HBD would drop a lot. Because otherwise inflation would hit again.