The US Federal Reserve raised its main interest rate on Wednesday by a quarter of a percentage point to 1.5% - a move that came as no surprise to market participants and left the dollar weaker on the day.
As expected, the Fed's open market committee (FOMC) raised its Fed funds rate from 1.25% to 1.5% at its final meeting of the year, and chair Janet Yellen's final press briefing before Jerome Powell takes the hot seat.
It appeared to remain without conviction that the FOMC persisted in this final rate hike of 2017 - a year that has seen three upward moves in the Fed funds rate from 0.75% to 1.5%.
While the FOMC has been keen to note the robust nature of economic recovery in the US, thanks to rising global demand, it had always been with underlying caution over the depressed rate of inflation.
Headline consumer prices rose at an annual rate of 2.2% in November, data published earlier on Wednesday showed, up from 2% in October.
Retail sales have been strong in recent months, despite the effects of summer hurricanes, and later this week November sales, which take in the post-Thanksgiving shopping spree, are expected to show further growth.
Yet, the Fed remains perturbed by the lack of momentum in personal consumption expenditure (PCE), its favoured measure of inflation, which stands at 1.4% - well below the Fed’s 2% target rate.
This was, again, reflected in the FOMC's statement accompanying the rate hike.