Lloyds Bank
Use attributes for filter ! | |
Web site | www.lloydsbank.com |
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Customer service | 0345 300 0000 |
Credit card support | 0345 606 2172 |
Ceo | António Horta Osório |
Parent organizations | Lloyds Banking Group |
Subsidiaries | Agricultural Mortgage Corporation |
Founders | Sampson Lloyd |
John Taylor | |
Movies/Shows | 50 Cent: The New Breed |
Kill the Record Labels | |
Rap Sheet: Hip-Hop and The Cops | |
Biebermania! | |
G-Unit: Bullets Can't Touch Us | |
SadaPOP! TV | |
Date of Reg. | |
Date of Upd. | |
ID | 440592 |
About Lloyds Bank
Lloyds Bank plc is a British retail and commercial bank with branches across England and Wales. It has traditionally been considered one of the "Big Four" clearing banks. The bank was founded in Birmingham in 1765.
Government intervenes in Abu Dhabi's bid to buy Telegraph
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Telegraph: Ministers may order probe into newspaper's sale
... The Telegraph and Spectator were taken over by Lloyds Bank five months ago as it sought to recover debts owed by the Barclay brothers...
Abu Dhabi-backed fund poised to take over Telegraph
... It comes five months after the Telegraph and Spectator were taken over by Lloyds Bank as it sought to recover debts owed by Barclay brothers...
Interest rates predicted to be held again
... " The Bank s overly tight monetary stance is pushing mortgage lending down, companies are struggling to repay debt, insolvencies are rising, and households are withdrawing money to meet higher repayments, " said Trevor Williams, chair of a committee which monitors the Bank s decisions and former chief economist at Lloyds Bank...
UK faces ‘heightened recession risks' as interest rates bite
... Rhys Herbert, a senior economist at Lloyds Bank, added that " the sharper-than-expected drop in retail sales in July" was also a warning of " further possible weakness as we enter autumn"...
Benefits taken away to pay for utilities without consent
... Duncan Shrubsole, from Lloyds Bank Foundation, which supports around 600 charities, said: " The policy is harmful...
UK interest rates expected to rise for 14th time in a row
... The UK economy is on the precipice of a sharper slowdown, " said Trevor Williams, a member of IEA and former chief economist at Lloyds Bank...
Virgin Money to shut a third of its UK bank branches
... Branch visits dropLast year, Lloyds Banking Group said it would close 66 branches between October 2022 and January 2023...
UK interest rates expected to rise for 14th time in a row
By Michael RaceBusiness reporter, BBC News
Interest rates are expected to rise for the 14th Time In row as The Bank of England continues its battle to control stubbornly high price rises.
Most economists have predicted The Bank will increase its base rate to 5. 25% from its current 5% later on Thursday.
That would mean higher interest rates on mortgages and loans for Some People , But also higher savings rates.
UK inflation, the rate at which prices rise, is much higher than usual and putting households Under Pressure .
The Last time interest rates stood at 5. 25% was 15 years ago in April 2008. However, a rise to 5. 25% would mark a smaller increase than July's dramatic rise to 5% from 4. 5% and follows signs that price rises have begun to ease.
Inflation fell by much More Than expected in June and at 7. 9% is at its lowest level in over a Year - But still much higher than the 2% that The Bank aims for.
Pantheon Macroeconomics said this meant policy makers would not need to hike interest rates as much as previously thought.
By making borrowing more expensive The Bank 's aim is that people will spend less money, meaning households will buy fewer things And Then price rises will ease.
But it is a Balancing Act as raising rates too aggressively could cause the economy to slump, But not raising them at all could lead to inflation rising even more.
Free Market Think Tank The Institute of Economic Affairs (IEA) said The Bank should wait for previous interest rate rises to take effect before raising rates further.
''It will take some time for previous rate rises and falling global commodity prices to feed into lower inflation.
" Further rate rises are unnecessary and could do some economic damage without lowering inflation any faster. The UK economy is on The Precipice of a sharper slowdown, " said Trevor Williams , a member of IEA and former chief economist at Lloyds Bank .
Andrew Bailey , The Bank of England's governor, has previously denied The Bank has been trying to cause a recession - which is typically when the economy shrinks for two three-month periods - in a bid to tackle soaring prices.
" Many people with mortgages or loans will be understandably worried about what this means for them. . But inflation is still too high and we've got to deal with it, " He Said at The Bank 's previous interest rate decision.
There are signs that higher rates are already affecting the UK economy with, according to Nationwide.
On Wednesday, Prime Minister Rishi Sunak told LBC radio that inflation was not falling as fast as he would like, But that he believed people could " see light at The End of the tunnel".
What's the impact?A rise in rates would affect different people in different ways.
Mortgage holders with variable or tracker mortgages, or those who are looking to secure a new fixed-rate deal, will find it costs more to borrow The Money for their homes.
The majority of mortgage holders are on fixed-rate deals, which shields them from the current interest rates rises, But about 800,000 deals will end by The End of this Year and 1. 6 million more will do so in 2024.
In The Event of a 0. 25% increase, people on a typical tracker mortgage will cost about £23. 71 more a month, while those on standard variable rate (SVR) mortgages face a £15. 14 jump on average.
Other impacts of higher rates include first-time home buyers being priced out of The Market , and also charges on some un-fixed loans and credit cards going up.
However, people with savings should get better returns on their money - though banks have been condemned for " weak excuses" over their savings rates on offer.
For the government though, a rise in rates will have a knock-on effect meaning it has to pay more interest on the country's debt.
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Related TopicsSource of news: bbc.com