Federal Reserve's decision to raise interest rates was a 'close call'

Minutes reveal some policymakers remained concerned about stubbornly low inflation but economists believe rate hike will be first of several to come in 2016

The Federal Reserve's decision to raise interest rates in December - the first rate rise in almost a decade - was a "close call" for some policymakers, according to minutes of the Fed's meeting released on Wednesday.

While the US central bank's decision to raise the key interest rate by 0.25% was unanimous, minutes of the 15-16 December meeting show that some members of the rate-setting committee thought it was a tight decision due to concerns about stubbornly low inflation.

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