United Kingdom: 2008 Article IV Consultation: Staff Supplement; Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the United Kingdom

International Monetary Fund

No 2008/271, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2008 Article IV Consultation highlights that the United Kingdom’s economic growth was above trend in 2006 and 2007. In terms of expenditure, the expansion was largely driven by private consumption, on the heels of strong employment, steady real wage and living standards growth, and a surge in immigration. So far in 2008, evidence points to a sharp slowing in activity alongside high inflation. Executive Directors have welcomed the commitment made in the 2008 budget to tighten fiscal policy in the coming two years.

Keywords: ISCR; CR; inflation expectation; FSA collection; housing market; economy; UK monetary policy framework; consumer confidence confidence indicator; inflation concern; Inflation; Financial sector stability; Housing prices; Credit; Global (search for similar items in EconPapers)
Pages: 86
Date: 2008-08-05
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