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

IMF Staff Country Reports, June 17, 2016

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

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Bibliographic details

• Published: June 17, 2016
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781475517231.002

Overview and main findings

• The 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.

Risks and scenarios

• Near-term largest risks and uncertainties: upcoming European Union (EU) referendum.
• Baseline scenario highlighted: if the United Kingdom stays in the EU, steady growth is expected to continue over the next few years.

Policy recommendations

• Monetary policy: "should remain on hold until inflationary pressures are clearer and to help offset headwinds from fiscal consolidation."
• Broader macroeconomic policy objective: promote continued steady growth while reducing vulnerabilities.

Content in this bundle

• Conclusions of the Financial Sector Assessment Program
  • Conclusions of the Financial Sector Assessment Program (Markdown version)
  • Conclusions of the Financial Sector Assessment Program (PDF)