The Reserve Bank of India (RBI) lowered its key repo rate on Wednesday for a second consecutive time and changed its monetary policy stance signalling room for more cuts ahead, as it seeks to boost the sluggish economy in the face of fresh U.

India’s central bank delivered a back-to-back rate cut and signaled more monetary support ahead as U.S. trade tariffs raised alarm about slowing global growth.

India’s central bank cut interest rates as expected and signaled more easing to come as it seeks to bolster Asia’s third-largest economy in the face of damaging US tariffs.