0941 GMT - Lloyds Banking Group CEO Charlie Nunn expects three cuts to interest rates by the Bank of England this year, he told CNBC at the World Economic Forum in Davos. "What we see is a resilient, but relatively slow growth economy at this stage...There is opportunity to get growth going again in the U.K.," he said. The boss of the U.K. domestic lender notes that sentiment on the economy has tailed off in the past few months and now hopes to see the government accelerate on its clear plan to boost growth. The direction of the economy can really be changed with focus on things like the supply-side reform through the industrial strategy, unblocking planning, enabling regulation to really get behind competitiveness and growth, as well as large investments, Nunn said. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
January 21, 2025 04:41 ET (09:41 GMT)
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