A delegation of the National Bank of Ukraine (NBU) led by NBU Governor Valeriya Gontareva has left on an official working visit to New Zealand, the central bank reported on its Facebook page.

"The visit to the Reserve Bank of New Zealand will include a number of bilateral meetings to exchange experiences of decision making in monetary policy, as well as for the study of the best international practices of the introduction of inflation targeting," the report says.

The delegation is scheduled to attend meetings of the Monetary Policy Committee to discuss the preparation of decisions on monetary policy, macroeconomic modeling, and research.

The NBU recalls that the Reserve Bank of New Zealand introduced inflation targeting in 1990, after which inflation in the country decreased and stabilized at 2%.

The NBU intends to introduce inflation targeting in its monetary policy by the end of 2016.

In August 2015, the National Bank board approved the basic principles of monetary policy for the next four years, which are aimed at reducing annual inflation to 5% by the end of 2019.

Inflation is expected to slow to below 10% in 2017.