Thailand's central bank cut its key interest rate by a quarter point for a second consecutive meeting on Wednesday, in a move to support an underperforming economy facing uncertainty over steep U.S. tariffs.

The Thai central bank cut its benchmark rate and flagged the possibility of slower economic growth, as ongoing global uncertainties cloud the Southeast Asian nation’s outlook.The Bank of Thailand’s monetary policy committee voted 5-2 on Wednesday to lower the policy rate to 1.

Thailand’s central bank governor underscored the need to focus on stability as he warned of an imminent “storm” from an intensifying global trade war, a day before the nation’s rate panel is widely expected to cut its policy interest rate.