United Kingdom: 2016 Article IV Consultation-Press Release; and Staff Report

International Monetary Fund

No 2016/168, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key issues related to the economy of the United Kingdom. The U.K. economy has performed well in recent years, but it faces important challenges and risks. In the near term, the largest risks and uncertainties relate to the upcoming European Union (EU) referendum. In the event the United Kingdom stays in the EU, steady growth is expected to continue over the next few years. Macroeconomic policies in the baseline should focus on promoting continued steady growth while reducing vulnerabilities. In particular, monetary policy should remain on hold until inflationary pressures are clearer and to help offset headwinds from fiscal consolidation.

Keywords: ISCR; CR; monetary policy; economy; holding; SDR; IMF staff estimate; liability positions vis-à-vis nonresident; money market rate; SDDS metadata; core inflation; Inflation; Housing prices; Productivity; Mortgages; Current account deficits; Global; Europe (search for similar items in EconPapers)
Pages: 68
Date: 2016-06-17
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