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1.90479818662769E-05 0.000971447075182489 0.00192384616849853 0.000971447075182489 0.000971447075182489 -0.00283814929808185 -0.00474294748471394 1.90479818662769E-05
Stock impact report

Lloyds cuts UK growth forecasts as it warns of rising inflation [Yahoo! Finance]

Lloyds Banking Group Plc American Depositary Shares (LYG) 
US:NYSE Investor Relations: lloydsbankinggroup.com/investors
Company Research Source: Yahoo! Finance
Britain's biggest lender has warned that the energy shock from the Iran war risks unleashing “stagflationary pressures” on the economy. Lloyds Bank sounded the alarm of the fallout from the conflict in its latest results on Wednesday, as it trimmed its UK growth forecasts from 1.2pc to 0.5pc. The shock is likely to revive inflation and increase unemployment, Lloyds said, alongside a housing market slowdown as interest rates remain high. The warning was made as Lloyds' profits surged by £500m in the first three months of the year after benefitting from higher interest rates. The current interest rate has been held at 3.75pc since the start of the year. The UK banking giant revealed that revenues jumped from £4.4bn to £4.8bn between January and the end of March, leading to profits rising by 33pc year-on-year to hit £2bn. This was well above analyst expectations, fuelled in part by an 8pc rise in net interest income, which is the difference between what it charges for loans Show less Read more
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