The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This Selected Issues paper on the United Kingdom describes the issues related to the choice between different types of inflation targeting frameworks and the features of the Bank of England's framework. The paper focuses the trade-off between program costs, efficiency, and concerns about equity such as reduced poverty and improved income distribution. The study analyzes the main analytical framework to assess the gains and losses associated with joining the European Economic and Monetary Union, and also surveys a range of indicators of wage flexibility.