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BoJ, Fed, ECB : with different methods, contrasting futures (Excerpt GEAB N°75, May 2013)

As we see on a daily basis, central banks play a major role in the crisis’ management. In order to see the unfolding of the global systemic crisis more clearly, we must understand how they act, the limits, the advantages, and disadvantages of their interventions. We have therefore decided to explain, in broad terms, the principal Western central banks’ policies. In particular we will see that the ECB on the one hand, and the Fed and the Bank of Japan (BoJ) on the other, use different tools and that the expression “printing press” really only applies to the last two…

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