“Central banks around the world have taken steps to simulate their respective economies, but monetary policy won’t spur more robust global growth, Citigroup analysts say.

The U.S. Federal Reserve has said it will buy $40 billion worth of mortgage-backed securities a month from banks on an open-ended basis, a policy tool known as quantitative easing that pumps liquidity into the financial system to spur investing and job demand.

The European Central Bank (ECB) has unveiled a scheme to buy sovereign debt in the open market to lower borrowing costs in troubled countries, while the Bank of Japan recently announced plans to expand the size of a monthly bond-purchasing program to jolt its economy.”

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