Q-E-1, QE2 (with operation twist) in the US, OMT [or Outright Monetary Transactions] and TLTRO [or Targetted LongTerm Refinancing Operations] in Europe, and Q-Q-E (Quantitative and Qualitative Easing – the three arrows) in Japan. BIS central bankers’ speeches  1  Furthermore, central banks needed to be sharper and more pointed in their communication of policy intent.
Preserving favourable financing conditions over the pandemic period will help to reduce uncertainty and bolster confidence, thereby encouraging consumer spending and business investment, and, ultimately, underpinning the economic recovery and helping to offset the downward impact of the pandemic on the projected path of inflation.