While some feel that the European Central Bank failed to meet market expectations on strengthening quantitative easing Thursday, one analyst said this could actually be good for the markets.
"I'm really not disappointed with what the ECB did today, what they kind of left off on the table in terms of extending the amount per month and the rate cut," said JPMorgan strategist, Samantha Azzarello. "They extended the tool kit by reinvesting principal and by saying they are widening the scope of what they are going to purchase, which I do think is a positive in the longer run."
Azzarello told CNBC's "Squawk on the Street" Thursday that the rally we've seen in European equities was "fully on the back" of heightened expectations about today's announcement from ECB president, Mario Draghi. However, Azzarello added that from a macro perspective, Europe could be in a good place.