Will the ECB announce a 25 bps decrease at the July meeting?

This market will resolve to the amount of basis points the upper bound of the deposit facility rate is changed by versus the level it was prior to the European Central Bank's (ECB) July 2025 meeting. If the deposit facility rate is changed to a level not expressed in the displayed options, the change will be rounded up to the nearest 25 basis points and will resolve to the relevant bracket. For example, if the deposit facility rate is increased or decreased by 12.5 basis points, it will be treated as a 25 basis point change for the purposes of resolution. The resolution source for this market is information released by the European Central Bank after its July 24, 2025 policy meeting, as listed on the official ECB calendar: https://www.ecb.europa.eu/press/calendars/mgcgc/html/index.en.html The level and change of the deposit facility rate is also published at the official ECB interest rates page: https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html This market may resolve as soon as the ECB releases its interest rate decision following the July 24, 2025 meeting. If no interest rate decision or update is published by August 14, 2025, 11:59 PM ET, this market will resolve to the “No change” bracket.