Central bank credibility shot - Blanchflower

Added 20th October 2016

Former MPC member and labour economist David ‘Danny’ Blanchflower says central banks have a credibility problem.

While they are honest folk, he told Portfolio Adviser, if you look at what they have been saying for a long time, it hasn’t worked out for them.

Referring to expectations that the Fed will raise interest rates at its December meeting, he said: “Even if the Fed does raise in December, no one believes there is a big round coming, so lower for a lot longer is what we are likely to see.”

“Markets don’t think there will be a rate rise after that for at least another year. They don’t even question whether it is the right thing to do. So, even though the Fed keeps saying we are going to raise rates eight times over the next eight years, the markets don’t believe a word of it, and rightly so.” 


Portfolio Adviser: Guide to Europe

Portfolio Adviser: Guide to Europe

After a politically turbulent time in 2016, Europe has been under scrutiny with several nations going to the polls.The question asked, would investors be right to...

Kames Income Hub


Vincent McEntegart, manager of the Kames Diversified Monthly Income Fund, explains how he aims to deliver a stable and sustainable income of 5% p.a.*, paid monthly, by investing in a range of asset classes

Square Mile Research

AXA Distribution Fund
AXA Distribution Fund

Talking Factsheets is a video service for users...

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

About Author

Gary Corcoran


Portfolio Adviser & International Adviser

Gary Corcoran is the editorial director for Portfolio Adviser, International Adviser and Fund Selector Asia. He is also programme director and chairman for events hosted across the UK, South Africa, Middle East and Asia. Gary joined Last Word Media in August 2006 as the launch editor of Portfolio Adviser, having previously worked at Bacon & Woodrow, Legal & General, FT Business and MSM International.



Investment Strategy



PA Income 2017
PA Income 2017

Tuesday 4 July
Radisson Blu Edwardian Bloomsbury Street Hotel 

PA Edinburgh 2017
PA Edinburgh 2017

Thursday 7 September
Balmoral Hotel

PA Alternatives 2017
PA Alternatives 2017

Tuesday 12 September
Radisson Blu Edwardian Bloomsbury Street Hotel

PA Dublin October 2017
PA Dublin October 2017

Tuesday 10 October
Westbury Hotel, Dublin

Sponsored Content