Central banks independence began to develop in the 1990s. In order to successfully achieve its objectives, it is very important for the central bank to be independent. According to today's research, the central bank independence is the foundation of successful implementation of monetary policy and the fulfillment of the central bank goals. Furthermore, the empirical studies on the impact of the central bank independence on macroeconomic variables, have proven the inverse relationship between inflation and independence, while the impact on other macroeconomic variables has not been proven. The aim of the thesis is to determine the degree of independence of the Croatian National Bank, the European Central Bank and the Bank of England by using the central bank independence index and to determine the impact of central bank independence on price stability and employment. In order to determine the level of independence of the Croatian National Bank, the European Central Bank and the Bank of England, four indices are used: LVAW, Petursson Index, Eurozone Index and TOR. The calculated changes in the level of independence have been observed in relation to the inflation rate and employment in the period 1998 to 2018. The results of the calculated indices show a high level of independence of the Croatian National Bank and the European Central Bank and a very low level of independence of the Bank of Englan. It is not possible to confirm the link between the central bank's level of independence and its goals, price stability and employment.