The National Bank of Ukraine intends to introduce inflation targeting in its monetary policy by the end of 2016, NBU Head Valeriya Gontareva has said.

"The main goal is to achieve price stability in Ukraine," she said.

Gontareva reported that the National Bank board has approved the basic principles of monetary policy for the next four years, which was agreed on by the NBU Council, and which are aimed at reducing annual inflation to 5% by the end of 2019.

She also said that inflation is expected to slow to below 10% in 2017.