The time for the Bank to raise interest rates has long since come and gone | Phillip Inman

Having been forced into emergency measures in the austerity years, Mark Carney is now stymied by last week's GDP figures

With little more than a week to go before the Bank of England considers its next interest rate move, it has become clear that the Old Lady of Threadneedle Street has missed the boat. Its governor, Mark Carney, hinted as much in comments earlier this month when he spoke about the weakening of the economy since the start of the year.

"I don't want to get too focused on the precise timing - it is more about the general path," Carney told the BBC. In particular, he said the turmoil on Britain's high streets, which has seen a worrying number of businesses go to the wall, was a matter of interest to the bank's interest-rate-setting committee.

Is Carney kicking himself for inaction now? He shouldn't be

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