Stephen King writing in the Independent argues that much of the inflationary pressure which has prevented central banks from easing monetary policy has come from the ‘growth maximising’ emerging market countries. Interest rates should come down but the damage to growth has been done

Charles Goodhart writing in the Telegraph believes that the worst recessions flow from the ending of financial excess but that inflation may peak around the turn of the year. Pencil in 2010 as the start of recovery from the recession

Anatole Kaletsky writing in the Times takes Alistair Darling to task for claiming that the UK economy is facing its worst crisis since 1948. “It reveals a flaw more serious than deviousness: basic ignorance of economic facts and figures. This is a failing that the minister responsible for national finances can never live down.” Crisis, what crisis? Alistair Darling’s just got his figures wrong