Comment, analysis and other offerings from Monday’s FT,
Interactive: Budget briefing
As the UK Treasury presents its 2009 budget, see how the economy has fared in a turbulent year of rising public debt and unemployment, declining manufacturing output and interest rates falling to a record low. For more budget coverage throughout the day, including live-blogging of the chancellor’s speech, see the FT’s UK Budget 2009 page.
Editorial comment: Inflated fears
One grim spectre of the interwar period has thankfully not arrived in the UK: deflation. Although it was revealed on Tuesday that the retail prices index dropped over the past year, the country is not experiencing widespread deflation. Nor does it seem imminent.
Martin Wolf: The green shoots of recovery could yet whither
Spring has arrived and policymakers see “green shoots”. Is the worst behind us? In a word, No. The rate of economic decline is decelerating. But it is too soon even to be sure of a turnround, let alone of a return to rapid growth. These are still early days
Opinion: Bank tests we should get stressed about
With the banking system still under stress, financial markets are waiting with great anticipation for the release by Washington of the results of stress tests for major US banks. Some believe the tests, scheduled to be released in early May, are excessively hyped. They are wrong, writes Pimco CEO, Mohamed El-Erian. Rightly or wrongly, the February stress-test announcement was interpreted by markets as signalling a comprehensive process through which the government would evaluate the soundness of banks and decide on sustainable solutions for the sector - a sector critical to the economy’s prospects.
Lex: Protest rally
It could be a year before this double-barrelled recession ends, and 18 months after that before economic recovery takes hold.
John Kay: How economics lost sight of the real world
The past two years have not enhanced the reputation of economists. Mostly they failed to point out fundamental weaknesses of financial markets and did not foresee the crisis, and now they disagree on appropriate policies and on the likely future course of events.
Market Insight: Dividend hunters should home in on Asia-Pacific
A dividend is a dividend is a dividend. However, in the minds of many, companies continue to be evaluated on their place of origin rather than ability and track record of paying growing dividends writes Jesper Madsen of Matthews Asia Pacific Equity Fund.
