The war in Iran has thrust the world's major central banks into a familiar — and deeply uncomfortable — position. Just as inflation pressures were easing and policymakers were preparing to move toward rate cuts, a surge in energy prices driven by disruptions in the Middle East is complicating the global outlook. The result is a worsening policy dilemma: rising inflation risks on one side, and slowing economic growth on the other. That trade-off will be in focus this week as the Federal Reserve, the European Central Bank, and the Bank of England all hold closely watched policy meetings. Switzerland's central bank is ... (full story)