The April meeting of the ECB Governing Council saw he central bank cut interest rates for a third consecutive time this year. It reduced them by 25bps, with the Deposit rate lowered to 2.25%. while the Re-fi rate was decreased to 2.40%. This marked the seventh 25bps rate cut since the ECB  started its easing cycle in June 2024. The changes to the official interest rates were in line with the market expectations.