This research analyses the pros and cons aspects related to the transparency of a central bank in different periods of time with implications on the side of inflation expectations anchoring and monetary policy efficiency. The opinion of these aspects has been researched in the literature of speciality in order to identify an optimal communication of a central bank. There was analysed the inflationary process in the developed, developing and emerging countries, of which the last ones are facing an increased inflation volatility. Following the researches carried out, it was concluded that the inflation expectations anchoring is an indispensable condition for the performance of the inflation direct targeting regime and not only, fact confirmed by the study of inflation and inflation expectations development in New Zeeland.