Lloyds share price

With Lloyds shares down 8% in 2022, Charlie Keough takes a look at why he thinks this may mean an opportunity for him to buy some cheap shares.

With the cost of living rising, this may mean people are less likely to take out a loan. This would have an adverse impact on the Lloyds share price. The main reason I like the look of Lloyds is its low valuation. With inflation seemingly on a constant upwards trajectory, the Bank of England has hiked interest rates to counteract this. While unfortunate for the soon-to-be ex-employees, Lloyds plans to close as many as 100 branches as it turns its attention to online banking. And under the leadership of Charlie Nunn, the firm is in the process of streamlining.