IMF comments on the UK economy - 20 Dec 2017

  • UK growth in 2018 seen at 1.5%
  • Brexit talks is welcome, very long list of tasks ahead - remains the key uncertainty
  • Timeframe of Brexit is ambitious
  • Agreement on Brexit transition would avoid "cliff edge" in March 2019, and also reduces uncertainty
  • Brexit weighing on UK domestic demand
  • Withdrawal of stimulus by BOE should continue at gradual pace
  • Budget deficit reduction is critical to rebuild fiscal buffers against future shocks
  • Implications of Brexit for monetary policy are uncertain

Some comments by the IMF on the UK economy and Brexit. Sort of a third party insight, but ultimately we'll have to wait and see how talks between the UK and EU develop. But judging by what everyone is commenting, it does look like it's a long and winding road ahead to get everything done and dusted.

I guess here's to another year of Brexit filled headlines for the GBP.