The US Federal Reserve raised borrowing costs for the fourth time this year but pared back its plans for rate hikes next year.
The Fed ignored a US stock-market selloff and warnings from US President Donald Trump by sending rates higher, although today's move was widely anticipated.
By trimming the number of rate hikes they foresee in 2019, to two from three, the Fed signalled that it may soon pause their monetary tightening campaign.
Harbour Asset Management portfolio manager Shane Solly said the Fed's moves may offer some relief sharemarket investors, who have seen share prices come off sharply in recent weeks.
He said the slightly dovish stance for 2019 was largely expected but markets were caught off-guard by a lower growth outlook for next year.