Central banks signal readiness to tighten as inflation proves sticky, with the Fed's Waller and the BoE's Pill both leaning hawkish.

Inflation is proving stickier than hoped, and central bankers are responding with a hawkish tilt. Fed Governor Waller explicitly left the door open to a hike if disinflation stalls, while the BoE's Pill argues against wait-and-see and prefers a higher Bank Rate. Their comments come as euro area producer prices rebound on energy costs, adding to the ECB's dilemma. The common thread is that major central banks are no longer confident that the last mile of disinflation is assured, keeping rate expectations sensitive to incoming data.