To some extent, most of the economies are not optimum currency areas. The economic activities in different regions of a country respond to monetary policy actions differently in terms of the response magnitude and timing. While there exists considerable heterogeneity across the regional economies in China and each region responds to monetary shocks with great difference, the literature on the studying the regional imbalanced effects of monetary policy is fairly limited. Reviewing the latest foreign literature in detail has a positive significance for the monetary policy development and regional economic development.The authors review the development course of the research methodology on regional imbalanced effects of monetary policy and evaluate the contribution made by these methods to studying of regional imbalanced effects of monetary policy. Comparison and analysis of the formation mechanisms of regional imbalanced effects of monetary policy are made in such perspectives as monetary policy transmission channels, financial and economic structures, the behaviors of economic entities and so on. The latest research trends in this field are summarized and concluded, which suggests that the study will focus on the combination of aggregate level research in the future. Finally, the authors evaluate the significance of research on regional imbalanced effects of monetary policy and suggest further research needed in China.