According to Anbound's ongoing research, the world has entered an era when externality of monetary policies is gradually increasing. Multiple factors affect monetary policies of a county such as the competitiveness of currency, political risk, regional currency, international trade, and international responsibility. The problems derived from the policy’s externality will become unprecedentedly complicated that is composed of interests of different players. The chaotic environment in formulating monetary policy will become a new challenge for the authority to implement effective monetary policies.