We are now in our third round of this quantitative easing. Since September 2012, the FOMC has added about $ trillion in long-term Treasuries and mortgage-backed securities to its balance sheet through this program, buying at a pace of $ billion a month in 2013.
The key role of monetary policy in stabilising the euro area economy As the central bank issuing the euro, we are responsible for the stability of the single currency. Our monetary policy measures played a key role in stabilising the European economy.