Where next for QE?

What has happened to all that QE?

The Federal Reserve introduced a quantitative easing (QE) programme in 2008 to help prevent the collapse of the global financial system in the wake of the credit crisis.

The Bank of England followed shortly after.

Since then the European Central Bank, Bank of Japan and People's Bank of China have also adopted some form of stimulus to help boost economic growth.

But has QE done its job? Where has all that extra money gone? And what is the likely impact on investments?

As some central banks look to "normalise" monetary policy the global economy faces a leap into the unknown.