The Iran war-induced inflation surge is becoming too much for central banks around the world to simply look past and a string of them, led by the U.S. Federal Reserve, have either raised borrowing costs or signalled likely moves to tame price growth. Conflict in the Middle East has pushed up energy costs and even if an interim peace deal holds, so much infrastructure has been damaged and so much oil is missing from stockpiles that energy market normalisation could last well into next year. This is especially troubling as some big economies, notably the United States and Britain, failed to get inflation back to target ... (full story)