United Kingdom: 2004 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the United Kingdom

International Monetary Fund

No 2005/080, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2004 Article IV Consultation highlights that United Kingdom’s real GDP growth is estimated at about 3 percent in 2004 and is expected to stay stable at about 2½ percent in 2005–06, in line with potential growth. Domestic demand remains the key driver of growth, underpinned by continued strong earnings growth and robust corporate profitability. Inflation expectations remain well anchored. Rising import prices are expected to push inflation toward the 2 percent target over the coming 2–3 years.

Keywords: ISCR; CR; government expenditure growth; reform agenda; monetary policy; authority; UK well; payment systems oversight report; headline CPI inflation; Housing prices; Inflation; Inflation targeting; Import prices; Global (search for similar items in EconPapers)
Pages: 50
Date: 2005-03-08
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