Markets are watching this very carefully, ECB President Trichet has already talked about raising rates, I don't think he wants to lose his credibility so I think a .25% increase to 1.25% from 1.00% is going to occur, I give it about a 99% chance. A hike of .50% to 1.50% I would only think a 5% chance however futures traders are pricing in that option with almost 50%.... Going to be an interesting day tomorrow morning before the market opens.
I pulled that out of an article I read, not mine... http://www.dailymarkets.com/forex/2011/04/06/preview-of-ecb-rate-decision-–-5-possible-scenarios/