Mario Draghi and his team at the European Central Bank last month gave more than a hint that its 1 trillion euro ($1.1 trillion) quantitative easing (QE) program will be extended or ramped higher in December. Within 24 hours, the Chinese central bank had cut its main benchmark rate for the sixth time since November last year.
By the following Sunday, both Mark Carney, the Bank of England governor, and Vice Chairman Fritz Zurbruegg, from the Swiss National Bank, were both penning dovish messages in their country's national newspapers.
Last week, Sweden's Riksbank decided to expand its own program. The Bank of Japan and the Central Bank of Russia, meanwhile, kept rates on hold. But, it's only a matter of time. The latter signaled that it would cut rates in the coming months. The former is gearing up to increase the size of the asset purchases in the hope of boosting inflation.