The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
The company cannot afford the ridiculous headcount and fibre rollout at the same time.
But you can not have one without the other.
To cut back on headcount they could cut back on fibre rollout.
Imo let the fibre rollout continue
Bet we do not hit 43p today
What i meant to say is Bet we do not hit yesterdays high with FTSE @ 40+ point up LOL :-0
Skimmers heaven then
Think Lloyds got skimmed yesterday @ 43.33
Bet we do not hit 43p today
Hopefully another Bumper £2 Billion buy back
Was hoping for £2.5 Billion but not so sure now with this Car cr@p
Them 2 muppets on the MPC should walk the plank UK is heading for a car crash
Sorry 3 as Bailey should also walk
Lloyds is rated as a ‘buy’ at UBS, with the analyst team evidently confident in the bank’s capacity to navigate regulatory challenges whilst capitalising on NIM expansion. With a price target of 50p, the Swiss bank sees around 16% upside to the current price.
Feck sake 50p
2 of the 9 again voted for a rate raise! The vote was 6 for hold, 2 for raise, and 1 for a decrease.
2 again for rate rise & there is were the problem lies as to why we finished red
What are they thinking do the want to bring UK plc to its knees
Governor bailey must cut interest rates and supercharge an economy
Must & Should But Will NOT
Part 2
Sam Cartwright, economist at Societe Generale, agrees: "The magnitude of decline in both pay growth and inflation has reinforced our view of a May cut."
However, he is wary that because the effect of the National Living Wage increase on pay growth won't become apparent until after the May meeting, it may encourage the BoE to wait a bit longer.
Still, all told, unless their is another inflation shock, markets should soon get the the easing of policy on which they are betting.
According to interest rate futures trading on ICE, the Bank Rate is indicated to be down to 4.4% by December 2024 and 3.45% a year later. This has helped 2-year Gilt yields BX:TMBMKGB-02Y move down from the near 5.5% touched in July 2023 - the highest since 2008 - to the current 4.34%, weakening the pound (GBPUSD) in the process.
"[H]aving previously maintained a tightening bias in its forward guidance, the MPC statement should certainly drop its rate-hike bias and acknowledge that, if inflation follows the path assumed in its projection, the next move in rates is likely to be down," said Daiwa Capital Markets.
-Jamie Chisholm
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Lets See what that Buffon Bailey says
The Bank of England on Thursday is expected to follow the European Central Bank last week and the Federal Reserve on Wednesday in leaving interest rates unchanged.
The Bank Rate will remain at 5.25%, the highest since March 2008, for the fourth meeting in a row, according to bets in futures markets.
Consequently, traders will be focusing on what the BoE's Monetary Policy Committee says in its accompanying statement and economic projections as a guide to when rate cuts may begin.
Like it's U.S. and eurozone peers, the Old Lady of Threadneedle Street has been in a battle with inflation in recent years, delivering 14 interest rate hikes in response to annual consumer price increases that topped 11% in October 2022, amid a surge in energy costs and COVID-related supply disruptions.
Headline CPI inflation has come down sharply since then, touching 4% in December. But that was an uptick from the 3.9% in November, and it remains double the BoE's 2% target.
Such a scenario might encourage the central bank to maintain a hawkish bias were it not for the poor health of the U.K. economy.
In its November Monetary Policy Report, the MPC said it expected GDP growth to be "broadly flat" in the fourth quarter of 2023, and over coming quarters. It was most likely CPI inflation would return to the 2% target by 2025, it said.
But recent data has been worse than the BoE expected, notes Sanjay Raja, senior economist at Deutsche Bank.
"Since the November MPR, the BoE has been met with one downside surprise after another. Put simply, GDP, wage growth, and inflation have all tracked below the MPC's November forecasts," says Raja.
However, this scenario has caused a fall in bond yields and the pricing in of a faster pace of interest rate cuts in coming years, which then may lift growth over the longer term by more than previously expected.
Consequently, the MPC is likely to maintain its poor assessment of 2024 but increase its economic growth forecasts for the next few years, says Goldman Sachs analyst Ibrahim Quadri.
"We expect the growth projections in 2025 and 2026 to be revised up, reflecting the updated conditioning path for Bank Rate, which is down by around 85 basis points, on average, over the forecast horizon, since the November MPR," said Goldman.
Crucially, Goldman also thinks the BoE will revise down its near-term inflation forecasts because of softer consumption data and lower energy prices, with 2% CPI hit by the end of this year - and this may allow for rates to be cut by the spring.
"[W]e continue to expect the first 25bp cut in May, followed by 25bp cuts every meeting until Bank Rate reaches 3% in May 2025. An earlier cut in March can not be ruled out entirely, especially if the disinflation process is coupled with further deterioration in growth.," says Goldman.
Sam Cartwright, economist at Societe Generale, agrees: "The magnitude of decline in both pay growth and inflati
Santander having another good day
Lloyds needs to come in good on result day , then maybe we could march on to giddy highs
Imo i think if buy backs are more than the 2Bill the market will like even though i would like the extra in my pocket
Maybe a leaky leak this morning gone from -1.2% to +1% already
I'll put money on A. Bailey & Co fecking it up they have been behind the curve on inflation since day one
@ Stille & Rest of Gang
Well done Happy for you all for holding
Who;s buying me a bottle of Vodka ;-)
The biggest threat to LLOY remains a possible Labour win
Lloyds is doomed then .
I do not see Labour attacking banks as if they do Banks will not lend to the more risky customer
When my parents came here for better life from Luton , there was No Benefits for them. ;-)
The UK is seen as the Golden Goose
I have seen Migrants abroad they might get some food and a disused building to sleep in but defo no 3 meals a day doctor on call spending money & end up being housed. Not a chance.
The benefit system is Fecked well & truly.
By the way i did go to Luton felt like i was an out sider god knows how many different languages were being spoken
Few months back while at W/Spoons got talking to a guard that was looking after migrants he said they would complain there rooms were to hot or they were given the wrong shampoo ,they needed more money to top up their phones.
While our OAP's Froze were is the justice
Hardup
Yes Santander do have considerable exposure to the Car Finance
something stinks why Lloyds has taken such a big battering
Sp has been knocked billions
Look at the FTSE Mimic the Dow
We might as well merge with the Dow jones
Call it DJ FFS
Landlord Lloyds.
Will do well as not enough homes being built & rent is Sky high
Hope Lloyds Results have the same impact as they did at Santander