UPDATE : ECB Press Conference

#ECB Draghi says ECB decided on combination of measures, says package includes target longer-term loans.

#ECB Draghi says packages includes preparations for ABS purchases, unveils package of targeted LTROs, work to prepare QE.

#ECB Draghi says ECB rates to remain at present levels for extended period of time.

#ECB sees 2014 GDP Growth of 1% vs 1.2% ; 2015 GDP Growth of 1.7% vs 1.5%; 2016 GDP Growth 2016 1.8% vs 1.8%.

#ECB cuts inflation forecast. 2014 CPI at 0.7% vs 1%; 2015 CPI at 1.1% vs 1.3%; 2016 CPI at 1.4% vs 1.5%.

#ECB Draghi says initial size of target LTRO plan is 400Bln euros.

#ECB Draghi says rates may stay low longer than previously foreseen. Low interest rates will feed into money market, FX.

#ECB says rates will rise when growth returns.



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