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How this tech giant is developing a more digital Africa

For Ola Williams, Microsoft Country Manager for Nigeria and Ghana, empowering women through tech training is furthering digital infrastructure development across the continent.

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15 years as it fights to rein in soaring prices in the world's largest economy.

The Federal Reserve announced it was raising its key rate by another 0.75 percentage points, lifting the target range to between 3% and 3.25%.

Borrowing costs are expected to climb more - and remain high, the bank said.

The move comes despite mounting concern that the cost of controlling inflation could be a harsh economic downturn.

Federal Reserve chairman Jerome Powell said the rate rises were necessary to slow demand, easing the pressures putting up prices and avoiding long-term damage to the economy. But he conceded that they will take a toll.

"We have got to get inflation behind us," he said. "I wish there were a painless way to do that. There isn't."

Banks in nearly every country - with the big exceptions of Japan and China - are facing similar trade-offs as they raise rates to combat their own inflation problems.