On April 7, the European Central Bank (ECB) released data on its first month of quantitative easing, revealing that all was going according to plan. Economic signals coming out of Europe from the first quarter have been positive, and talk has already begun on the prospect of tapering — the process of winding down quantitative easing . In contrast, the Bank of Japan released figures in March showing that its renewed surge of quantitative easing launched in late 2014 had failed to boost inflation to the desired levels, sparking talk of yet another redoubling of the campaign. But on April 8, the Bank of Japan announced no change in its bond-buying program and suggested that it expected inflation to remain stagnant for some time. In many ways, the two central banks are facing similar challenges. Both have also resorted to the same methods of coping with those challenges.