Sitting at around 1.1818 versus the dollar before the announcement, the euro fell to 1.1681 during Draghi's subsequent press conference, shipping around 0.9 percent in value for the session.
"The dovish response by markets focused on the rise in geopolitical uncertainties, the downward revision to the 2018 GDP forecast, 2.1 per cent versus 2.4 per cent, and the ECB's optionality on policy", they said.
The ECB said its Governing Council will continue to make net purchases under the asset purchase programme (APP) at the current monthly pace of Euro 30 billion until the end of September 2018. They would then be wound up completely after December.
The meeting comes one day after the USA central bank raised rates, citing May's jobs report as a sign that the American economy continues to improve.
This development occurred in the wake of a decision made by the European Central Bank to keep interest rates at record lows into 2019 while simultaneously moving to end its massive bond purchase scheme which was previously implemented as part of its anti-crisis measures.
The eurozone was also hit with a crisis over high debt in Greece, Italy, Portugal, Ireland, Spain and Cyprus, followed by a period of worryingly low inflation that suggested the economy remained weak.
This assumption about the increase in rates being built into the longer-term US Treasury notes is supported by the fact that the yield on the longer issue actually declined by more than the short-term end declined, resulting in a term structure of interest rates that became even flatter.
Marchel Alexandrovich, senior European economist at Jefferies, said: "So the ECB is sending a signal that rates are to remain on hold for 6-9 months after QE finishes". But it could also increase returns for savers and make it easier for pension savings to grow.
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The U.S. Dollar surged against a basket of major currencies to almost a new high for the year on Thursday, led mostly by a sharply lower Euro.
After the European Central Bank's board meeting in Riga on Thursday, Draghi made clear than nothing will change this summer and the bond-buying programme will continue until December.
Draghi said there would be no prospect of an increase in the ECB's key lending rate - now 0.0% - until next summer at the earliest.
Italian bond yields rose sharply this month as a new government of anti-establishment parties promised higher spending. The initial plan was to buy bonds worth Euro 1 trillion.
Among single stocks, Tesco rose 2.1 per cent.
The stimulus on both ends was unprecedented in size. All that money flooding into the financial system through banks pushed up the prices of investments likes stocks and bonds.
The pan-European STOXX 600 index fell 0.4 percent, as a recovering euro weighed.
As the stimulus is ended and then withdrawn over a period of years, those effects will go into reverse, though investors do not seem too anxious just yet: the DAX rallied 1.7 percent on Thursday.