Monetary policy is one of the key public policies of modern economies. It has a direct impact on price stability, interest rate level, volatility, monetary, and credit expansion, as well as on the volatility of the exchange rate. The quality of money and credit is crucial for financing and investment decisions, for macroeconomic stability, balance of payments, or public deficits and debts. Today, this policy has specific goals and objectives and is managed by central banks with the purpose of serving the public interest. Without sound monetary policy and a trusted central bank, economic growth and development can be significantly altered. The importance of this state institution significantly increased in the last decades, being empowered with more and more functions and attributes: from simple minter of standardised coins and banknotes towards the regulator and supervisor of banking sector, lender of last resort for banks, buyer of financial assets and administrator of international reserves. This chapter will assess the importance of social responsibility in the case of central banks by analysing their independence, accountability, and transparency. We will discuss and define social responsibility by looking at the general and specific objectives set for central banks, their general and specific goals and their tools used to achieve them, their balance of power in connection with other public institutions (government, parliament, etc.), and the control that could be exerted by these institutions on the activity of the central bank. This chapter also provides solutions and improvements to improve the social responsibility of central banks that could enhance economic growth and development.