The United States central bank has

The United States central bank, has raised an important interest rate by one-fourth of 1 percent.The move may have been small, but it marks the first time since late 2008 that the Federal Reserve has raised important interest rates that it controls. The federal funds rate, a rate paid by banks for short-term loans, is now one half of 1 percent.The Federal Reserve Open Market Committee decides monetary policy for the U.S. The committee announced the change Wednesday in a statement on economic policy. It had met for two days in Washington.