As expected, Fed raises rates
The US economy has improved with jobless claims down for 86 straight weeks, likely prompting the Fed to move to more rate hikes next year [Xinhua]
The Federal Reserve increased interest rates by a quarter point on Wednesday in a move that was largely expected by most markets around the world.
The Federal Open Market Committee said that market conditions had become favorable toward a rate increase and expected further tightening of fiscal policy in 2017.
The overnight lending rate now stands between 0.5 and 0.75 per cent.