Brexit, US and EU elections: Lloyds Business event reviews the financial markets

Posted on Tuesday 29th November 2016

The University of Bolton welcomed Lloyds Bank for another of the series of highly successful Business Breakfast events (on Wednesday 23 November 2016).

Over 40 representatives from the financial and legal sectors and the wider North West business community gathered at the University to discuss the UK and global economy in 2016.

Director of Financial Markets for Lloyds, Paul Keys (pictured below), analysed the year and how a series of unpredictable events affected the global economy.

He touched on a wide range of factors, including Brexit and Donald Trump’s election as the next US President, and how they contributed to the fluctuating value of sterling and its impact on banks and businesses. The upcoming Italian referendum and French election were also considered when predicting how events over the next 12 months would impact upon the EU and its member states.

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During the second half of the event, Helen Tse (pictured below) from Glaisyers Solicitors evaluated key commercial aspects of business post-Brexit. During her presentation she reflected upon the challenges of the volatile pound and how this might impact on trade deals for businesses. Following the referendum in June, the pound dropped against the dollar from a rate of $1.49 to $1.32 almost overnight. This translated into a significant increase in the cost of imports to businesses and consumers.

Questions from the audience centred on investment decisions, interest rate forecasts and the Autumn statement.

Martyn Shaw, the University's Director of Business Development commented: 'With so many factors affecting our economy, Paul and Helen's commentaries provided valuable and thought-provoking insights for the audience. The questions could have lasted for another hour which is a measure of the success of the event.’

The next Business Breakfast event held at the University of Bolton in conjunction with Lloyds Business Banking will be early in 2017. To register for updates please email BBG@bolton.ac.uk

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