The objective of this scoreboard is to analyse the evolution of monetary policy and central banks’ decisions over the last two decades through the extensive use of data1. Central banks’ balance sheets have only rarely reached similar heights relative to GDP, except during wartime. By presenting key numbers and charts, this document opens the debate on monetary policy and the need to change course. During the Global Financial Crisis (GFC), the EU sovereign debt and Covid-19 crises, central banks played a crucial role and intervened at an unprecedented scale to keep financial markets liquid and to stabilise the financial system. In addition, in Europe, the ECB’s measures have avoided financial fragmentation in the dynamics of bonds prices, particularly for sovereign bonds. These swift and decisive actions have helped to prevent potential economic collapses. […]