The US central bank has raised interest rates to the highest level in 16 years as it battles to stabilise prices.
The Federal Reserve increased its key interest rate by 0.25 percentage points - its 10th hike in 14 months.
That pushed its benchmark rate to between 5% and 5.25%, up from near zero in March 2022, although the Fed hinted the rise may be its last one for now.
The European Central Bank (ECB) has also raised rates again, although by a smaller amount than in previous months.
The ECB lifted its three key interest rates by 0.25 percentage points, whereas the three preceding meetings have all seen a larger rise.
Source: www.bbc.com
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