FTSE 100 Set for Gains After Fed Hikes Rates

The FTSE 100 index is expected to open higher on Thursday after the US Federal Reserve raised interest rates for the first time in over three years. The Fed increased its target range by 25 basis points to 3.75%-4.00%, citing elevated inflation.

Markets expect the Bank of England to keep its Bank Rate unchanged at 3.75% when it makes its decision later on Thursday. Sterling weakened slightly to around $1.338 following the Fed's announcement, while Brent crude traded near $105 a barrel.