Insight - UK faces high inflation, slowing growth and rising taxes

In a trilemma: A shopper making a purchase at a market in Norwich. It’s time policy makers reach deeper into the tool box to combat rising prices without driving the economy into a recession. — Bloomberg

LAST week’s central banker symposium at the International Monetary Fund (IMF) in Washington was a festival of hawkishness, with one notable exception:

Bank of England (BoE) governor Andrew Bailey was far more circumspect than his peers at the Federal Reserve (Fed) and even the European Central Bank (ECB) in detailing the tricky balancing act between curbing inflation and sustaining economic growth.