European Stock Markets Price in 10 Basis Point Move by ECB

European markets are cautiously optimistic ahead of Thursday's ECB meeting, according to one expert. 'We're entering this decision thinking we're probably going to see at least a 10 basis point increase to the deposit rate, maybe even 20 points, and hopefully further stimulus as well,' said Craig Erlam, senior market analyst with Oanda in London. Erlam added that further stimulus could include additional quantitative easing, or an extension to the QE timeline. At midday on Wednesday, European stocks were slightly higher after two days of declines, helped by rising oil prices. Erlam said that while the markets continue to recover from their markets, a surprise decision by the ECB had the potential to derail that. TheStreet's Rhonda Schaffler has details from Wall Street.