Bloomberg The Czech central bank took a step back from Europe’s most aggressive campaign of interest-rate increases as global risks to the export-oriented economy overshadow domestic price pressures. After raising borrowing costs last month for the eighth time in two years, the central bank left the benchmark rate at 2 percent on Wednesday, in line with expectations. Policy makers have …

Bloomberg HDFC Bank Ltd., India’s biggest lender by market value, has picked Bank of America Corp. and Morgan Stanley to manage an initial public offering of its non-bank finance unit, people with knowledge of the matter said. The bank plans to sell the shares in HDB Financial Services Ltd. before March 31 in a deal that may raise about 100 …

Bloomberg Federal Reserve Chairman Jerome Powell said the downside risks to the US economy have increased recently, reinforcing the case among policy makers for somewhat lower interest rates. “Crosscurrents have reem-erged, with apparent progress on trade turning to greater uncertainty and with incoming data raising renewed concerns about the strength of the global economy,” Powell told the Council on Foreign …