Experienced Investor
US interest rates rise for first time in nine years
The US central bank has raised interest rates by 0.25%, the first increase since the financial crisis.
In a widely anticipated move, the Federal Reserve’s rate-setting committee unanimously agreed to increase rates to 0.5%.
Rates in the US have been stuck firmly between zero and 0.25% since the 2008 downturn and have not been increased since 2006.
In a statement the Fed said: “The Committee judges that there has been considerable improvement in labor market conditions this year, and it is reasonably confident that inflation will rise, over the medium term, to its 2 percent objective.”
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