Woodford: Rate rise now could be 'very destabilising' for economy

The manager (pictured), who expects rates will rise much later than markets are currently estimating, said given the Bank of England now has a dual mandate to promote financial stability, a hike now seems unlikely. Woodford, responding to what had been a growing expectation of a hike this year before Bank governor Mark Carney's latest speech, said: "The market is wrong to expect an imminent tightening of monetary policy. It would be a mistake if interest rates were to rise." Carney's most recent move has been to cool expectations of an imminent rate hike, in a u-turn on previous comme...