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ICU Research
is a small but highly professional team of experts who have deep insight in diverse fields of finance — from global markets to Ukrainian macroeconomics and from the local banking sector to sovereign debt market.
Bond Market Reviews
Weekly Reviews
Macroeconomics
Bond Market Reviews
MoF is in no hurry to borrow
With yesterday's auction, the Ministry of Finance completed the refinancing of FX-denominated bonds...
6 May 2026
UAH bond yield stabilised
Yesterday, the Ministry of Finance launched a new three-year UAH instrument, but it did not attract...
15 April 2026
MoF launches new military bond
The Ministry of Finance began the 2Q26 with an offering of new military paper. However, it decided n...
8 April 2026
Weekly Reviews
NBU worsens macro outlook
The NBU kept its key policy rate at 15.0% and now expects it to remain unchanged through April 2027....
4 May 2026
Inflation accelerates further in March
Annual CPI accelerated to 7.9% in March from 7.6% in February. Core inflation edges up to 7.1% YoY....
13 April 2026
NBU reduces interventions sharply
Last week, the NBU sharply reduced its FX sale interventions, although they remained at a high level...
6 April 2026
Macroeconomics
Growth Weak but Macroeconomic Stability Safeguarded
The economy is set to slow further as headwinds remain intense. The energy crisis caused by russia’s...
6 February 2026
Reparation Loan is a Likely Game Changer for Economy
The lingering war and heightened safety risks imply Ukraine will remain critically dependent on fore...
15 October 2025
A Race to Secure More Budget Funding for 2026
Economic growth to remain slow as the economy will struggle to increase the stock of available resou...
16 July 2025
Video
Media publications
Economy
8 December 2025
Company News
3 April 2025
Economy
13 December 2024
Economy
27 February 2023
Investments
21 February 2023
Investments
20 February 2023
Venture Capital
15 December 2022
Investments
18 November 2022
Economy
6 September 2022