Markets are waiting to hear European Central Bank head Mario Draghi on growth worries in China, scary low oil prices and the chance of more stimulus in Europe.

Draghi speaks after the bank's meeting Thursday to decide monetary policy.

Betting among analysts is that the bank won't add stimulus until at least the next meeting in March.

Instead, expectations are that Draghi will underline willingness to step in if plunging oil prices and stocks appear to be hurting the bank's effort to push inflation closer to its goal of just under 2 percent.

The bank increased its stimulus measures Dec. 3. But since then oil has fallen steeply, threatening to push inflation into negative territory from 0.2 percent in December. Low inflation can hurt growth if it becomes entrenched.