Coming back to my previous words, let the following situation serve as an example: while environmental policy is trying to reduce traffic pollution, at the same time transport policy is promoting enhanced mobility and infrastructure improvements by having new roads built. The same issue about reinforcing and counteracting effects applies to the interaction between monetary policy and macroprudential policy.
In the short run, a potential conflict between the two policy areas cannot be ruled out. This might be the case if real and financial developments diverge, for example when monetary policy should be tightened but the financial system is stressed.