In practice, macro prudential policy may be best thought of as providing a backdrop to monetary policy (Beau et al. 2011). Given that changes in macro prudential policy changes can have large impacts on the behaviour of financial institutions, it seems likely that they will be announced with long lead times in order to prevent abrupt adjustments in the financial sector.
Coordination may be particularly important in a situation in which monetary and macro prudential policy are in conflict. Since asset price booms are typically associated with rapid growth and rising inflation pressures, they may warrant both tighter macro prudential and monetary policy. As noted by Beau et al.