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Research 

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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

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UAH bond yields stabilise

Yesterday's auction saw the first material increase in weighted average yields this year, which came...

25 March 2026
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Halt in decline of UAH bond yields

At yesterday's primary auction, yields on one-year bills stopped declining, and yields on three-year...

18 March 2026
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MoF fills UAH bond yield curve

Yesterday, after a three-month break, the Ministry of Finance issued new two-year paper. So, the off...

11 March 2026
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Weekly Reviews

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NBU keeps key rate unchanged at 15%

The regulator maintained the key policy rate at 15.0%, postponing further monetary easing amid risks...

23 March 2026
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Consumer prices accelerate unexpectedly

Annual headline CPI climbed to 7.6% in February from 7.4% in January. ...

16 March 2026
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NBU reserves down 5% in February

The gross international reserves of the NBU decreased 5% in February to US$54.8bn, an equivalent of...

9 March 2026
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Macroeconomics

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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
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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
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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
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