Why are central banks independent from politics, what should be their main goals, why do they involve ever more academic economists? During the last 100 years mission and instruments of central banks have seen a few seminal changes. What challenges, problems and objectives are central banks in the world and among them the National Bank of Ukraine currently facing? How are they evolving in response to the rapidly changing environment? These issues will be discussed at the conference “Transformation of Central Banks’ activities” on May 19-20th in Kyiv.