The cross-currents of the global economy leave the world’s central banks confronting varied policy choices in the months ahead. The U.S. and U.K. recoveries finally have enough momentum for the Federal Reserve and Bank of England to anticipate raising raise short-term interest rates from record lows next year. The European Central Bank and Bank of Japan 8301.TO +0.20% see still weak growth and inflation prompting calls for them to provide more stimulus. Several emerging-market central banks are struggling with the twin challenges of slowing growth and high inflation. And the central banks in China and South Africa ... (full story)