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.

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.

Expectations for European Central Bank interest-rate cuts are rising as investors and analysts assessing the fallout from Donald Trump’s tariffs conclude that the outcome for inflation will be more benign while growth will suffer.