The increase is the first in the US since December 2018, and is aimed at controlling the country's worryingly high inflation. We get reaction to the announcement from Greg McBride, analyst at the personal finance firm Bankrate.

Britain's prime minister Boris Johnson is in the Gulf this week, asking the UAE and Saudi Arabia to pump more oil in a bid to keep prices lower. Matt Smith is from the data and analytics firm Kpler, and tells us what he thinks Mr Johnson is hoping to achieve through his visit.

And as the US plans to make Daylight Savings Time permanent, we ask Professor Nicholas Sanders at Cornell University in upstate New York what the economic benefits could be.