But Peter Boockvar of The Lindsey Group is pessimistic about the effect of these policies. "We've reached the end of the road, not in what central banks can do, but of the influence over the things they are trying to impact. The effectiveness of modern-day central bank activism is over."
About one-third of respondents said the ECB's policy measures will result in fewer rate hikes from the U.S. Federal Reserve, while more than half said the stimulus package will have no effect. Some on Wall Street argued a stronger euro might in fact make future rate hikes more likely.
"Central bankers are in the midst of an important pivot, ostensibly agreeing at the recent G-20 meeting in Shanghai to a ceasefire in their global currency war by shifting their focus away from negative interest rates toward credit easing," said Tony Crescenzi, executive vice president at Pimco. "This will not only aid credit instruments, it is likely to enable the Fed to implement additional interest rate hikes, albeit gradually, because it is contributing to a stabilization in global financial conditions."