Why the Bank of England is holding rates despite a weakening economy | Phillip Inman

Rising unemployment and falling inflation made a strong case for a cut but Andrew Bailey opted to wait and seeBank of England keeps interest rates on holdBusiness live - latest updatesWhen unemployment is rising and inflation falling, the Bank of England would, under normal circumstances, cut the cost of borrowing.Add to the mix a faltering economy and the public might reasonably expect a reduction in interest rates to lift their spirits.