"On Wednesday, the world was disappointed by what Ben Bernanke had to say to Congress. No third round of Quantitative Easing (QE3) just yet. And in Europe, the European Central Bank (ECB) disappointed the market with just half a trillion euros in the Long Term Refinancing Operation (LTRO). Yes, just a half a trillion...
You don’t have to know the ins and outs of what QE and LTRO actually mean. It’s essentially just a question of how much money central banks are going to inject into the economy now that rates can’t go any lower. More money chasing the same amount of things means higher prices. That’s supposed to be good for growth."
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