" a low interest rate means that few businesses see any value in investing. There aren't many opportunities to earn profits by expanding or purchasing better equipment."

I fail to see the logic of this argument. I remeber the 1980s when interest rates were very high - in double figures for most of the decade. That disincentivised investment. Why invest in a business when you can get 15% by leaving the money in the bank? And, if you borrow at those sort of rates you will find it difficult to get an adequate return on your investment both to repay the bank and to make a profit.