Brazil's central bank raised interest rates by 50 basis points on Wednesday in a sixth straight hike that pushed borrowing costs to their highest in nearly 20 years, and left future steps open amid global uncertainties and sticky domestic inflation.

PRAGUE (AP) — The Czech Republic’s central bank cut its key interest rate again on Wednesday, with lower-than-expected inflation. The cut brought the interest rate down by a quarter of a percentage point to 3.50%. The bank had kept the rate unchanged at its previous policy meeting in March.

The Bank of England’s interest rate cut is likely to bring relief to borrowers, businesses and hard-pressed consumers across the country.