On the macroeconomic policy front, aggressive monetary easing was introduced mainly in advanced economies by employing so-called unconventional measures such as quantitative easing (QE) -- or large-scale purchases of assets including government bonds -- and the negative interest rate policy.
With regard to fiscal policy, the G-20 countries provided strong fiscal stimulus in a coordinated manner immediately after the start of the global financial crisis. Thereafter, some countries -- those in Europe in particular -- conducted fiscal policies in a neutral or somewhat contracting manner for a while.