What market and economic trends are most affecting Lloyds' operations at the moment?

Hi Hugo! Great question. As a bank, interest rates clearly affect us and our operations massively. Whilst low rates are beneficial to many of our customers, the volatile market environment surrounding interest rates/inflation make some of our more riskier activities riskier!

Recent budget changes, particularly the increase in pension inheritance tax, are influencing our adviser clients as they strive to support their clients effectively. With an additional 1.5% of UK deaths now liable to pay inheritance tax (IHT), advisers need to navigate these changes and provide strategic advice to their clients.