The price stability and financial stability are two concepts encountered increasingly in the monetary policy strategies of central banks, as well as in related literature. The price stability is essentially the main responsibility of central banks, as sustainable economic growth can be achieved only through low prices and their small fluctuations. Also, central banks play a role in financial stability, which I define as a feature of the financial system to withstand systematic shocks on a sustainable basis without major disruptions, to efficiently allocate resources in the economy and to identify and manage risks. The financial stability is of great importance to price stability; in case there are constraints to choose between an alert disinflation process and maintaining of financial stability, the latter must be a priority in order to fulfill the objective of maintaining price stability in the long term. It is noteworthy that countries that have initiated the process of disinflation have to recourse to a corresponding pace of disinflation so as to avoid conflict with financial stability. Currently, financial stability is essential for the effectiveness of monetary policy and therefore to ensure price stability.