Woodford: Carney will never raise interest rates

Central banks have a 'limited hand'

Neil Woodford has said there is no likelihood of Mark Carney raising interest rates during his tenure as governor of the Bank of England, as he described central banks as "feeling their way" around the economy.

Speaking at AJ Bell's Investival, Woodford (pictured), who is head of investment at Woodford Investment Management, said central bankers have limited power in the current market environment. "It is important to have central banks but the problem is they are all in a dark room looking for a black cat that is not even there. They are feeling their way around an economy where there is no rulebook. "Post-Brexit, Carney's policy initiatives have helped the economy and helped to calm markets but he has a limited hand. Carney will never raise interest rates." Woodford: It would be wrong t...