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How Carney's changed my equity strategy
By Owen Thomas
Michael Jarman, Equity Strategist for H20 Markets in London has revised his equity strategy after the Bank of England Governor, Mark Carney, said future interest rate moves would be determined not just by the unemployment rate but by a wider range of indicators. Michael says UK consumers are likely to have more spending power this year and that will help cyclical stocks in 2014, notably pub and restaurant chains and those connected with on-line spending.
Carney said while growth is strong, it's fragile. Rates, he said, would only ever rise gradually when the time was right. The pound rose against the dollar after he made his remarks. The Bank of England has revised its growth forecast for the UK this year to nearly 3.5%.
01:46 minutes
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