The surprise move included the US Federal Reserve, the ECB, and the central banks of Canada, Britain, Japan and Switzerland.
In Europe the FTSE added 168 points (+3.2%) to settle at 5505, whilst the CAC (+4.2%) and DAX (+5%) enjoyed even stronger gains.
Stateside, the Dow Jones added a whopping 490 points (+4.2%), whilst the S&P 500 (+4.3%) and Nasdaq (+4.2%) also enjoyed monster gains.
Further helping the rally in the US were the latest US private sector jobs numbers which showed 206,000 jobs were added in November – the biggest gain in nearly a year.
The euro gained the most in a month against the greenback, whilst the greenback fell against all of its 16 most-traded peers.
The Aussie dollar added more than 2% to currently be trading towards the US$1.03 handle.
Oil rose 0.6%, to US$100.36 a barrel, with commodities receiving a boost on hope that the liquidity action by central banks will support growth.
Base metal prices surged on the LME with investors pouring back into risk assets; copper added 5.4%. Gold rose by 1.7% to US$1743.20 an ounce.
In company news, Spotless Group has received a sweetened $2.68 per share offer from Private Equity Partners.
Today’s session will bring us data in the form of building approvals and retail sales, both at 11:30am, AEDT.