Speaking to reporters after the ECB's monetary policy meeting, this time held in Cyprus, Draghi said: "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."
"A cyclical recovery along the lines of March staff projections is no ground for complacency," he added.
Read MoreEurope shares higher after ECB sets date for QE
The euro dropped had sharply ahead of Thursday's European Central Bank (ECB) policy meeting, falling from around 1.1170 to an 11-year low of 1.1061 in early trading on Thursday. After Draghi started speaking, however, the euro briefly spiked to a session high before falling lower again.
German bund yields traded around 0.4 percent after Draghi's comments, up from Wednesday's close and one-month low of 0.38 percent.
At the last ECB meeting in January -- the bank now meets every six weeks -- Draghi announced a 1-trillion euro ($1.1 trillion) QE program.