Thursday, 26 January 2012
The central banks have colossal balance sheets: China 1, ECB 2
In 2006 the Bank of Japan, the inventor of huge QE, had to surrender the first place to the Peoples Bank of China, while the ECB continued to follow the Chinese track. In the last few years the Fed attacked to get the second position, but the last few months the ECB is racing ahead in the direction of the PBoC.
(chart of Bianco: all the balance sheets are translated to US Dollars)