As expected the Federal Reserve decided on Wednesday (Mar 15) to raise the target range for its federal funds rate by 25 basis points to 0.75% to 1%. The hike came in line the development on the U.S. economy, which has almost met the Fed target of full employment and stable prices. Global investors welcomed the Fed rate hike. U.S. stocks surged on Wednesday. European stocks also closed higher. This morning futures indicate that most Asia-Pacific equity markets are likely to follow U.S. stocks higher.

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