For the week ended 23 January 2015
- ECB announces bond-buying stimulus plan
- China's Q4 GDP grows at 7.3% pace
- IMF lowers global growth forecast
- Japan drops inflation outlook
- US housing data strong
Weak global growth and the extensive drop in oil prices prompted broad central bank action to counter the widespread threat of deflation. In addition to the European Central Bank's announcement that it would launch a quantitative easing program, the Bank of Canada lowered its overnight lending rate by 0.25 percentage points to 0.75% and the People's Bank of China provided monetary stimulus.