The US central bank has raised its benchmark interest rate by 0.25 percentage points to its highest level since late 2007.
US central bank raises rate by 25 basis points
The US Federal Reserve has raised its key interest rate by 0.25 percentage points, continuing its more moderate course.
Now the key interest rate is in the range of 4.5 to 4.75 per cent, the Fed announced on Wednesday.
It is the eighth increase in a row and the smallest step since last March.
Most recently, the Fed raised the key interest rate by a substantial 0.75 percentage points several times – but slowed the pace at the end of last year with a rate hike of 0.5 percentage points.