Monetary policy responses will also vary, even when confronted by the same circumstances, because of differences in the structure of our economies, differences in the mandates under which central banks operate, related differences in strategies that guide the implementation of their policies, and limits on the ability of some central banks to engage in expansionary policy.
It kept sovereign borrowing rates  BIS central bankers’ speeches  1  low in the face of a market revolt. It helped clean up the balance sheets of stressed financial institutions through cheap funding. The recovery from the Great Recession was relatively quick; at least that was how it seemed through the “green shoots” of 2010.