The Fed and the BOE appear to have been the most successful so far in terms of the effectiveness of their QE. The ECB has been only modestly successful, and The Bank of Japan, although the longest modern user of QE, has been the least effective. In 2018, the UK, US, Eurozone, and Japan accounted for nearly 50% - around $42 trillion - of the world’s $85.8 trillion of GDP.
Key learning objectives:
What are the benefits of QE?
When was QE introduced in the Eurozone and Japan?
Why were some countries reluctant to adopt QE?
What needs to be considered when using QE?