Below are highlights of ECB President Mario Draghi's comments at the news conference.

NO CHANGE TO QE PLAN

"We see no reason to think, or plan, or act, in any different way than what we planned, namely 60 purchases of 60 billion euros a month of securies until September 2016 or beyond, if needed."

GREECE

Asked about raising the limit on Greece's issuance of short-term debt limit, Draghi said the ECB was prohibited by European rules from direct or indirect financing of governments.

"The ECB is a rule-based institution. It is not a political institution."

INFLATION TO RISE LATER IN 2015

"Supported by the favourable impact of our recent monetary policy measures on aggregate demand, the impact of the lower euro exchange rate and the assumption of somewhat higher oil prices in the years ahead, inflation rates are expected to start increasing gradually later in 2015.

"This assessment is also broadly reflected in the March 2015 ECB staff macroeconomic projections for the euro area, which foresee annual HICP inflation at 0.0 percent in 2015, 1.5 percent in 2016 and 1.8 percent in 2017."

ECB STAFF PROJECTIONS UPGRADED

"This assessment is also broadly reflected in the March 2015 ECB staff macroeconomic projections for the euro area, which foresee annual real GDP increasing by 1.5 pct in 2015, 1.9 pct in 2016 and 2.1 pct in 2017.

"Compared with the December 2014 Eurosystem staff macroeconomic projections, the projections for real GDP growth in 2015 and 2016 have been revised upwards, reflecting the favourable impact of lower oil prices, the weaker effective exchange rate of the euro and the impact of the ECB’s recent monetary policy measures."

ECONOMY IMPROVING

"The latest economic data and, particularly, survey evidence available up to February point to some further improvements in economic activity at the beginning of this year. Looking ahead, we expect the economic recovery to broaden and strengthen gradually."

GOVT DEBT PURCHASES

"They are intended to be carried out until the end of September 2016 and will, in any case, be conducted until we see a sustained adjustment in the path of inflation which is consistent with our aim of achieving inflation rates below, but close to, 2 percent over the medium term.

"Further information on certain implementation aspects of the public sector purchase programme will be released at 3.30 p.m. CET (1430 GMT) on the ECB’s website."

NO GROUNDS FOR COMPLACENCY

"A cyclical recovery along the lines of March staff projections is no ground for complacency."

PRICE RISKS

"The Governing Council will continue to monitor closely the risks to price stability."

QE DETAILS

"We will on 9 March 2015 start purchasing euro-dominated public sector securities in the secondary market. We will also continue to purchase asset-backed securities and covered bonds which we started last year."

(EMEA MPG Desk, +44 207 542 4441)