Europe stocks rise ahead of ECB stimulus decision, Asia down

Europe stocks rise ahead of ECB stimulus decision, Asia down

TOKYO (AP) — European shares rose and the euro weakened Thursday ahead of an expected ECB decision to increase stimulus.

Asian markets mostly fell after the U.S. Federal Reserve chief indicated the central bank is on track for an interest rate hike this month.

THE QUOTE: "Ever since the ECB lowered its forecasts in September, followed by President Draghi's comments in October, there is no doubt that more easing action is necessary to bring inflation up as quickly as possible to close in on the 2 percent target," said Bernard Aw, market strategist at IG in Singapore.

In comments Wednesday, Fed Chair Janet Yellen gave an upbeat assessment of the economy's progress since the Fed's last meeting in October, describing it as in line with its expectations for the labor market and inflation.

Benchmark U.S. crude was up 41 cents to $40.35 a barrel in electronic trading on the New York Mercantile Exchange after slipping below the $40 mark the day before.