Working on the wrong end

LONDON — The Bank of England decided to keep its benchmark interest rate unchanged on Thursday amid doubts about the strength of Britain’s economic recovery.

The central bank left its interest rate at 0.5 percent, a record low, and also held its program of economic stimulus at £375 billion, or about $560 billion.  

Central bankers the world over are working on the wrong end. Business won't borrow even at historically low interest rates when consumer demand is weak.  Money needs to be put in the hands of consumers, not banks.