The world’s central banks have not yet run out of QE firepower, despite the trillions poured into financial markets over the past couple of months — and their 2020 purchases could reach about five times the previous peak.

Central banks’ appetite for boosting asset prices is “alive and stronger than ever”, according to a presentation given by insurer Swiss Re on 2 June. Indeed, the Federal Reserve, the European Central Bank, the Bank of Japan, People’s Bank of China and the Bank of England have yet to reach their full capacity, Jérôme Jean Haegeli, Swiss Re’s chief economist said during the presentation.