Bini-Smaghi: Once crisis over, will return to normal policy

Executive board member of the ECB Bini-Smaghi says that once the present crisis os over, the ECB will return to conventional monetary policy. The ECB is unable to coordinate everything with the Fed, he said, according to a Reuters headline.Policies at the moment are correct, he says.

The ECB has gone its own way on QE, using the banking channel, due to differences in the European financial system. The Fed relies more on capital markets. That is once area where the ECB and Fed are unlikely to coordinate.