Fact is business decides whether to grow based on expected real demand or effective consumer demand.
Low interest rates can be used to reduce debt, but will inflation get built into rates?
Fact is low interest rates are being used to reduce exchange rate with the hope that China will appreciate, but reality is high interest rates are not being looked at as an option because of fears the economy is really really sick and no one has a sound solution!
http://www.dailymail.co.uk/news/article-2246924/New-Bank-England-boss-Mark-Carney-hints-tear-rule-book-economy-moving.html