The Reserve Bank of India (RBI) cut its key repo rate for the first time in nearly five years on Friday and signalled a less restrictive policy approach ahead, as it seeks to provide stimulus to the sluggish economy.

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%.

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 Monetary Policy Committee decided to trim the repo rate by 25 basis points to 6.