The Reserve Bank of India has cut its key interest rate for the first time in nearly five years, as cooling inflation has offered room to stimulate the slowing economy. The central bank forecast real GDP growth for next fiscal year at 6.

In Latin America's largest economy, the headline annual inflation rate hit 3.59% in January, statistics agency INEGI said, down from 4.21% the previous month and just below the 3.61% expected by economists polled by Reuters.

PRAGUE (AP) — The Czech Republic’s central bank cut its key interest rate again Thursday with inflation higher than expected after keeping the rate unchanged at its previous policy meeting in December. The cut, which had been predicted by analysts, brought the interest rate down by a quarter of a percentage point to 3.75%.