Lloyds Banking CEO warns households not to expect ultra-low interest rates
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- Опубликовано: 26 июн 2024
- The Chief Executive of Lloyds Banking Group - the UK's biggest lender - lays out the biggest challenges for the next government and warns households not to expect a return to the ultra-low interest rates seen for most of the last 16 years.
Sky's Business presenter Ian King sat down with Charlie Nunn.
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The same Lloyd's bank that wants to become the largest landlord in the UK is not going to make it easier for normal people, shock
Stole my line 😂
Domestic production is the missing piece. Difficult to achieve when the Government and banking system are milking us constantly.
Basically saying please start buying mortgages again. Business has really slowed down. Stop waiting for lower rates please.
He would say that as he makes is money from selling mortgages
During the financial crisis back in 2007, they put the rates down to super-low as an emergency "temporary" measure and then I guess in all that time since everything has been so fragile they were never able to ease them back up slowly to something sensible that would be sustainable over the longer term, kicking the can down the road and hoping for the best. They had to drop them again for brexit, and then further still for covid. So after all this time these rates had erroneously become considered the new normal, and people and businesses have become reliant on them being so low to be able to afford their debt repayments.
Goodness me we're in a mess.
there's no reason for rates to be at a "normal" of 4-5%... the socio-economic landscape of today has absolutely nothing to do with that of the last few decades, so it is completely expected to expect a new normal. the norm changes all the time. whilst 7-8% might have been the norm in the 1970s, 4-5% might have been the norm in the 1990s, 1-2% will be the norm nowadays. stop looking at the distant past for future predictions, it doesn't work.
but yeah, he's saying it won't be 1.5% again, very specific number. I'd be happy with 2%, which it will be at some point :).
This, absolutely this. Plus the fact that QE has to be unwound, lowering supply and keeping rates up.
I can't imagine wanting to invest in the UK at the moment, or at all until something really big changes. This place is a dump and getting worse.
They won’t let it go that low. They don’t earn any money
This is exactly what my thoughts were when I saw this... theyve realised they can make proper money again...
@@findlay234 it’s not rocket surgery dude. We are being well shafted. To coin a phrase 😊
@@djdoolittle1315 pure brain science
Banks charge a margin above base rate..
Its all about the sharesholders boyz n girlz.😂😂🎉push push push .bigger divs are allways welcome
Where is Liz Truss ? have anyone seen her 😊
Manufacturing gone. [Money laudering] services going (FTSE market cap down 60% since 2000). Nothing left once that goes. Face it we're just a military outpost for USA.
Interesting choice of time to provide an interview the week before a general election…
And their savings rate won't reach 1.5% 🤭
Can’t see how the UK economy will be able to compete with Europe then?
The ECB base rate is already down to 3.75%!
I don’t suppose this gentleman’s needs a mortgage either?
Politicians are already placing large bets on them going up and what date
Good insights: Also USA has USD as reserve currency, plus their growing economy, both UK don’t have, so, for next government, they need to tackle …
So increase our savings interest rates
Bankers making money from UK loans by double cooking it. Mental.
Lets discuss the rate at which the banks borrow from BoE and rate at which they loan to the public.
lol a rate cut is beneficial he says? all it does it allows govt to borrow more, this couldnt be more contradictory
Got a 3.99% rate with zero fees for five years locked in earlier in the year that started in May.
Thought I'd lose out with it, but wanted the stability.
Looks like I did OK.
No! Really?
Never trust a banker!
Best time to save
Suppressing there customers in financial HELL!!!!!!!!
Stability? For who? If these CEO's want stability, they should be advising The Bank Of England to fix mortgage rates at say 4% for the length of a mortgage and savings 2.5-3%. How can anyone plan for their future, when one minute they can afford a their mortgage, the next minute, it's gone up a by 100's of pounds?
The Bank of England don’t set mortgage rates and they are independent of businesses that these CEOs run
@@fplfred "Independent" yet we all know full well they scheme at their lavish networking dinner parties. Don't be so naive.
The rates are set off the back off the base rate
What happens when the US is NOT the worlds reserve currency
Us little people are being punished, where these guys benefits
The UK needs to buy up a lot of bitcoin.
Labour will print money ,
Interest rate will be higher
Wow a quarter of a % wow were so grateful lolol.
Massive AI job displacement is coming. For starters Bankers are closing retail branches , Making more and more people redundant. Even if we have a conservative 20% job displacement consumer spending will be heavily affected.
Causing growth to fall and keep falling year after year. There will be no end to AI displacement job. It will continue increasing year after year. With low growth comes deflation and with technological deflation comes negative interest rates.
So may in the short term but long term not happening.
New normal 4% for next 5 years now 🤦♂️
Better nationalize all the banks in UK. The problem solved😂😂😂😂
He is completely wrong, rates will return to near zero. Or alternatively, he knows this and is trying to sucker people into 4% deals.
this. whoever thinks the current numbers are sustainable, even in the short-term (next 2-3 years) needs to have a good look out the window. the economy will simply collapse, the numbers are not in sync anymore. this is not the 70s anymore, where 7-8% is an acceptable rate.
I’m not complaining. Higher interest rates mean higher rates on savings. 😬
And also higher inflation - individuals and more importantly businesses have built up huge amounts of debt in recent years which they are now repaying.
5% on savings is still likely a loss in real terms.
Foolish thinking. Those savings are being eroded by inflation and crippling credit costs.
@@graemelycett8373. He will not get 5% on his savings, and if he does, they likely to lock away his cash for 2 to 3 years, in that time, inflation will have erased any gains.
Vote Reform
Do people really expect it to lololololol
Its a wonder this guy needs a job what with him being able to see into the future.
No because god forbid your profits weee affected. Hopefully people will move their mortgages away from Lloyds the. They would fall faster than a tarts knickers
Lloyds tsb one of the worse bank, haven’t moved with time. The technology is shocking behind
Lloyd’s is a robbing mafia
Brexit!!!! 😂
At what point are people going to become anti-semitic…?
🫂🥰🙏😇
Right way ok🫂🥰🙏😇
😂