The U.S. Federal Reserve raised its benchmark interest rate by a quarter of a percentage point to a range of two percent to two-point-25 percent on Wednesday. 

The widely anticipated hike is the third this year following a raise by a quarter of a percentage point in both March and June.

With the latest increase, the difference between U.S. and South Korean interest rates has further widened to point-75 percentage points.

The Fed foresees another hike in December, three hikes next year and one final hike in 2020.