ECB announces a 60 billion monthly bond buying policy which comes in at the upper end of expectations. EUR/USD was off 1.5% at 1.146 in volatile trade after the meeting. QE will start march and run until September 2016. That makes the overall size over 1 trillion. The ECB is throwing the kitchen sink at the deflation crisis hitting the Eurozone and this is about as far as they could have reasonably gone without causing a crisis in the market.