The work addresses the tension between formal and actual central bank autonomy using the example of the Reichsbank during the Weimar Republic. The historical and political circumstances of this crucial period in German history are also taken into account. The examination of the phase of independence of the Reichsbank shows that it is not enough to define the legal framework to guarantee the de facto independence of the central bank. The formally guaranteed independence of the central bank from the state is not a sufficient condition for pursuing a monetary policy aimed at currency stability. What is crucial is how the central bank's officials utilize this independence. This is also currently relevant for the European Central Bank.