US rates on the march as Fed signals end of "accommodative" policy era

US Federal Reserve chairman Jerome Powell has signalled the era of "accommodative" money policy is over and that interest rates will steadily rise through to 2021. 

The Fed this morning raised US rates by a quarter of a percentage point to 2.25 percent. 

ABC's Peter Ryan says higher US rates are unlikely to immediately impact Australian rates which remains at a record low of 1.5 percent.