Baku-APA. US Federal Reserve raises interest rates by 0.25%, a move with potential global repercussions, APA reports quoting BBC.
The move takes the range of rates banks offer to lend to each other overnight - the Federal Funds rate - to between 0.25% and 0.5%.
The US central bank also raised its projection for economic growth next year slightly, from 2.3% to 2.4%.
That suggests the bank does not think the rate increase will damage growth. US share markets jumped in response.
The Dow Jones went from a 50 point rise to stand up 79 points at 17,612.79, a 0.5% gain.
The rise is the first move upwards since 2006. Rates in the US have been at near-zero since 2008.
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