For the world's leading central banks, the action is all in "unconventional measures" to support the economy and the banking system: like the UK's latest round of quantitative easing, or "operation twist" by the US Federal Reserve.
The Chairman of the Federal Reserve defended his decision to embark in an open-ended, third round of quantitative easing (QE3), extend Operation Twist, and extend their forward-rate guidance to 2015.