United Kingdom: Staff Report for the 2012 Article IV Consultation

July 19, 2012

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United Kingdom: Staff Report for the 2012 Article IV Consultation, (USA: International Monetary Fund, 2012) accessed December 23, 2024

Summary

This 2012 Article IV Consultation reports that the United Kingdom's economic recovery has been sluggish, as the needed hand-off from public to private demand-led growth has not fully materialized. Economic activity is projected to gain modest momentum in future, but the pace of expansion is expected to be weak relative to the scale of underutilized resources. Executive Directors have welcomed the authorities’ efforts aimed at economic rebalancing. However, they have cautioned that a stalling recovery, high unemployment, and uncertain external conditions continue to present significant challenges.

Subject: Banking, Financial crises, Fiscal consolidation, Fiscal policy, Monetary expansion, Monetary policy, Output gap, Production, Public debt

Keywords: BoE liquidity insurance, CR, Europe, Fiscal consolidation, FLS loan, Global, Government, ISCR, Lending, Liability positions vis-à-vis nonresident, Market lending, Monetary expansion, Output gap, Staff supplement

Publication Details

Pages:

107
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/190
Stock No:

1GBREA2012001
ISBN:

9781475506464
ISSN:

1934-7685

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