Dec 16 (Reuters) - Australian shares are likely to open higher on Friday, tracking U.S. stocks, as investors took the U.S. Federal Reserve's interest rate outlook as a sign of confidence in the world's largest economy.
The Fed raised interest rates by a quarter percent on Thursday and said it sees three rate hikes in 2017 instead of the two foreseen in September, citing an improving labor market and evidence of faster inflation .N FED .
The local share price index futures YAPcm1 rose 0.2 percent, or 10 points, to 5,495. The Australian benchmark index .AXJO ended 0.8 percent lower on Thursday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.3 percent, or 16.95 points, to 6,765.57 at 2116 GMT.
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For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB