The aim is to encourage investors to move cash out of low-risk holdings like bonds and seek returns elsewhere, for example by lending to households and businesses.
In a statement, the bank said: "The governing council will continue to make net purchases under the asset purchase programme at the current monthly pace of €30bn until the end of September 2018". Meanwhile a newly-elected populist government in Italy with big-spending plans could tip the eurozone's third-largest economy into financial crisis and there is so far no agreement on Britain's future trading relationship with the European Union after it departs the bloc early next year.
Britain's main stock index rose on Thursday after the European Central Bank signalled interest rates would remain steady through to the next northern summer, easing investors' concerns about tightening monetary policy.
The euro was likely to weaken against the dollar, according to Larry Hatheway, chief economist at Swiss asset manager GAM, based on the contrast between the Federal Reserve's plan to raise interest rates twice more by the end of this year, and the ECB's more conservative stance.
"It's more urgent than ever that these discussions. are being run within the existing multilateral framework", Draghi told a news conference after the ECB's regular policy meeting.
"We now have a lot more clarity on all of these questions and we think market volatility could decline somewhat as a result". At that, the Fed is also moving gradually; with core inflation at 2.2 percent in May, and headline inflation at 2.8 percent, the USA central bank benchmark is only around zero in real terms, when inflation is taken into consideration. Excluding autos, retail sales increased 0.9% in May (consensus +0.5%), and the April increase was revised to 0.4% from 0.3%.
The latest weekly initial jobless claims count totaled 218,000, while the consensus expected a reading of 223,000.
A separate report showed that fewer USA workers filed for unemployment claims last week than expected, an encouraging sign for the labor market.
US stocks mostly rose Thursday, as markets get accustomed to the idea of investing with less of a safety net from central banks around the world.
It stretched overnight losses to brush $1.1555, lowest since May 30. July silver added 1.6% to $17.262 an ounce.
The dollar index dipped 0.3 percent to 93.391 after briefly rising to 94.028 on Wednesday, with analysts citing the fact that the rate rises were probably priced into the USA currency and a shift in focus to the European Central Bank.
8 Major Banks expectations from June meet.
A study done during the last World Cup with similarly-timed games, the 2010 finals in South Africa, showed trading volumes on share markets dropped by a third on average when matches were on and 55 percent when a market's own team played.
Draghi, however, emphasised that the direction of monetary policy could change at any time.