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Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

London Stock Exchange
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Share Price: 52.20
Bid: 52.16
Ask: 52.20
Change: 0.30 (0.58%)
Spread: 0.04 (0.077%)
Open: 52.10
High: 52.84
Low: 51.92
Prev. Close: 51.90
LLOY Live PriceLast checked at -

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BoE Tucker's resignation may lead to 'more activist' MPC

Fri, 14th Jun 2013 17:47

Paul Tucker has resigned as Deputy Governor of the Bank of England, leading to suggestions the Bank's Monetary Policy Committee (MPC) could move in favour of a more activist monetary policy. Tucker, who joined the Bank of England in 1989 as Principal Private Secretary to Governor Leigh-Pemberton, worked his way up to Deputy Governor in March 2009. He served on the MPC from June 2002. But having been narrowly beaten, it is reported, in the race to be Governor in favour of the Bank of Canada's Mark Carney, he has decided to throw in the towel. As Tucker has voted against QE expansions in recent meetings, Barclays believes the departure may lead to a change in the UK's monetary policy outlook. Analyst Simon Hayes notes: "The deputy governorship is a Crown appointment, and is therefore in the hands of the government, and in choosing Mark Carney as the next Bank of England governor, Chancellor Osborne revealed a preference for 'monetary activists'. "It is therefore quite possible that Mr Tucker's replacement will be more inclined to support a monetary expansion."Having made that observation, Hayes acknowledged that MPC member Ian McCafferty had stressed the MPC's serious reservations about the wisdom of more QE at this time and how if the economic outlook continues to brighten, the MPC seems likely to conclude that no more support is needed."Moreover, arguably the biggest challenge facing the BoE over the next few years is to ensure that monetary policy and macro-prudential policy are appropriately configured and joined up. "The new deputy governor will be pivotal in this process, and the ability to take the fledgling Financial Policy Committee forward and to engineer an effective link-up with the MPC is probably a more important selection criterion than their view on the current monetary stance," added Hayes.Tucker has said he plans to spend a period of time in academia in the United States once he has left the Bank.However, rumours in the City point to the upcoming vacancies of the chair at Lloyds and Royal Bank of Scotland, with Sir Win Bischoff due to retire in May 2014 and RBS chief executive Stephen Hester penciled in to be staying on until the end of this year.OH
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29 Jan 2024 11:31

Lloyds to scrap mobile bank branches as moves towards online banking

(Alliance News) - Lloyds Banking Group PLC is shutting down its mobile banking service this year, after revealing plans to shed 1,600 jobs across its branch network as it moves ahead in the shift towards online banking.

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25 Jan 2024 14:41

Lloyds Banking Group to cut 1,600 jobs across branch network

(Sharecast News) - Lloyds Banking Group said on Thursday that it will cut around 1,600 jobs across branches as it continues to shift its focus to online banking.

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25 Jan 2024 10:36

BoE says 'ring fencing' capital rules for retail banks need no big overhaul

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25 Jan 2024 10:05

Bank of England says 'ring fencing' capital rules for retail banks need no major overhaul

LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday that its rules requiring banks to "ring fence" their retail arms with bespoke buffers of capital have worked "satisfactorily" with no major overhaul needed.

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23 Jan 2024 12:37

UK Chancellor Hunt meets top UK bank heads over plans to boost City

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23 Jan 2024 09:21

LONDON BROKER RATINGS: HSBC cuts Compass; Berenberg lowers Victrex

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22 Jan 2024 08:34

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(Alliance News) - Stock prices in London opened higher on Monday, propelled by gains on Wall Street at the end of last week.

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18 Jan 2024 14:33

Britain's finance minister Hunt to quiz bank bosses on UK lending

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17 Jan 2024 12:00

LONDON MARKET MIDDAY: UK inflation uptick, weak China data hits stocks

(Alliance News) - Stock prices in London were lower at midday Wednesday, as hotter-than-expected UK inflation data served as a setback to early rate cut expectations.

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15 Jan 2024 16:57

LONDON MARKET CLOSE: Sluggish stocks slip back in absence of US spur

(Alliance News) - Stocks in London were marked lower on Monday with the lack of direction from Wall Street, with US markets closed, adding to the subdued mood.

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11 Jan 2024 17:03

M&S shares, Wall Street sell-off drag FTSE lower

U.S. inflation data sparks selloff

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11 Jan 2024 11:36

UK finance watchdog probes possible motor finance misconduct

LONDON, Jan 11 (Reuters) - Britain's finance watchdog said on Thursday it would start looking into the motor finance industry, amid rising tensions between thousands of consumers and finance providers about commission arrangements.

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TOP NEWS: Big Yellow rent hike saves revenue from decreased occupancy

(Alliance News) - Big Yellow Group PLC on Thursday said that revenue and lettable area had increased despite occupancy dropping during the "seasonally weaker third quarter".

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Royal London tabling bid to buy bulk annuities from Lloyds - report

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2 Jan 2024 22:01

Top-rated US companies raise over $29 billion in new-year bond supply rush

Jan 2 (Reuters) - Top-rated U.S. companies raised over $29 billion in debt on Tuesday, giving the corporate bond market a strong start to the new year, as the companies tapped demand from investors anticipating lower interest rates later this year.

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