The functioning of central banks in all countries have evolved in the last fifty years, as globalization has forged a new era of economic trade. Most of the central banks have overhauled their systems and have changed policies to face the global competition. In a nutshell, it can be stated that the duties and responsibilities of a central bank of a country are mostly related to price stability, creating employment, strengthening the economy, creating transparency in the financial network of national and private banks, minimizing financial risks and overseeing monetary policies. Since a central bank forms an independent apex banking institution in a country, it forms the monetary policies for bolstering development of the country. So, do you think that monetary policy affect our daily lives in any way? Well, they surely affect our purchasing power and that surely, impacts our lifestyle. Let us get into more details on how the policies chartered by the governors and directors of central banks shape our economy in general, and our lifestyles, in particular.