Related to what I have said about the need for co-operation rather than coordination of policy variables domestically, I would argue that, if each major industrial country had clear medium-term objectives for monetary and fiscal policies, along with transparent frameworks for achieving those objectives, there would be no need or desire to have any strong form of international coordination.
From our standpoint as a central bank that undertook unusual measures in the face of financial system turmoil from the 1990s, it is surprising that the Bank and the Federal Reserve adopted very similar ways of addressing the situation. Recalling that central banks are originally established to achieve stability in the financial system, however, this is no surprise.