[19] At a basic level, there has been a clear correlation between changes in the relative balance sheet sizes of the ECB and the Federal Reserve and in the euro/US dollar exchange rate (Chart 6). The authors use announcements of quantitative easing (QE) type measures to predict future changes in the relative sizes of central bank balance sheets.
In particular, digitalisation can do much to facilitate a lowercarbon economic model, while shifts in global patterns of energy consumption are clearly influenced by the power needs of different strands of the digital economy.