The central bank cut rates for the third time in about six months as it said economic growth had been weaker than expected.

The Bank of Canada on Wednesday trimmed its key policy rate by 25 basis points to 3%, cut growth forecasts and warned Canadians that a tariff war triggered by the United States could cause major economic damage.

The central bank responded to a troubling mix of stuttering economic growth, stubborn inflation and President Trump’s tariff threats.