Central bank liquidity injections have dropped to 15 percent of total stimulus

In early March 2020, monetary-policy measures were the bulk of the first-line response to the COVID-19 crisis, representing 60 percent of the total. But not anymore since other measures—including loans, guarantees, and value transfers—have come online.

The global governmental stimulus response to the COVID-19 crisis exceeds$10 trillion.

To read the article, see “The $10 trillion rescue: How governments can deliver impact,” June 5, 2020.