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

August 5, 2008

Preview Citation

Format: Chicago

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, (USA: International Monetary Fund, 2008) accessed November 25, 2024

Summary

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.

Subject: Banking, Credit, Financial sector policy and analysis, Financial sector stability, Housing prices, Inflation, Money, Prices, Public debt

Keywords: Consumer confidence confidence indicator, CR, Credit, Economy, Financial sector stability, FSA collection, Global, Housing market, Housing prices, Inflation, Inflation concern, Inflation expectation, ISCR, UK monetary policy framework

Publication Details

Pages:

86
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/271
Stock No:

1GBREA2008001
ISBN:

9781451814330
ISSN:

1934-7685

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