US Federal Reserve has moved to its first interest rates increase since 2006.
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%, as BBC reports.
The US central bank also raised its projection for economic growth next year slightly, from 2.3% to 2.4%, which suggests that the bank does not think the rate increase will damage growth. Rates in the US have been at near-zero since 2008.
The Dow Jones went from a 50 point rise to stand up 79 points at 17,612.79, recording a 0.5% gain.