The US Federal Reserve has increased key interest rates by 25 basis points (bps), but its rate outlook remained unchanged. It has also projected 3 more rate hikes for 2018.

This move has pushed the target range from 1.25% to 1.5%. As per, the economic quarterly projections, the unemployment rate will be maintained at 4.1% by the end of 2017, which is lower than September’s forecast of 4.3%. In 2018 it will decrease to 3.9%.

Fed has also raised forecast for economic outlook. The hopes are that the US economy will grow 2.5% both in 2017 and 2018, higher than the forecast in September which forecasted a 2.4% growth for 2017 and 2.1% increase for 2018.

Read EquityPandit’s Technical Analysis of Indian Stock Market