"Let me also add, that the experience that we had in our case with negative rates has been very positive in easing financing conditions and in its transmission of this better financing conditions to the real economy," he said.
The pan-European STOXX 600 surged as much as 2.5 percent as Draghi began to speak, before giving up all gains to close over 1.6 percent lower following the comments on negative rates.
Meanwhile safe haven gold got a bid, gaining over 1 percent to trade around $1,268 per troy ounce. German bund prices also turned lower on the day, boosting yields, which in turn helped the 10-year Treasury yield to a high of around 1.950 percent.
But while the moves seen in the aftermath of Draghi's speech were perhaps not in the direction Draghi would have liked, analysts are positive on the impacts the deal will have for markets and the economy longer term.
"Ignore the euro's swoon; this is an aggressive response," said chief euro zone economist at Pantheon Macroeconomics, Claus Vistesen.
"On the question of negative rates, Draghi talked himself into a bit of a cul-de-sac by noting that the ECB does not expect rates to be reduced further. The euro duly rallied, but we do not think the zero bound has necessarily been reached, and we also note that the ECB strengthened its forward guidance by introducing the comment that rates will remain low 'well beyond the end date of QE purchases.'