Now that the Federal Reserve has launched Operation Twist, it's the European Central Bank's turn - and they may go further.
The euro has had more than its share of challenges lately, and now it has one more: talk that the European Central Bank could launch a round of quantitative easing.
"I think there's a very good chance that they will actually cut rates again, and I do think there's a reasonable chance they'll do QE," says Simon Derrick, chief currency strategist for Bank of New York Mellon. "The world's central banks are running the classic crisis playbook," he told CNBC's Simon Hobbs.