"Six billion dollars is an impressive amount, equivalent to more than half of the global total Quantitative Easing (QE) accumulated between 2009 and 2018," said Robert Sierra, director of Fitch's team of economists, referring to the value of assets that the rating agency sees central banks buying in 2020 to contain the economic impact of Covid-19.
According to Fitch, the balance sheet of the Federal Reserve (Fed) in mid-March stood at $ 4,3 billion, but is expected to end the year close to ten billion, also driven by currency swaps in the context of global demand for dollars and for participating in direct corporate loan programs. The balance sheet of the European Central Bank (ECB), which stood at around 4,7 billion euros at the end of 2019, could easily exceed 6 billion this year.
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