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from the attempts to counteract the major trends. The committee members agreed that they will further increase the key policy rate should the situation on the external market deteriorate and/or other discussed inflationary risks are fulfilled. The minutes reveal that the committee members didn’t discuss the risks regarding the expected disbursement of the IMF loan tranche to Ukraine. This implies that during the Sept. 5 meeting, top NBU officials had positive expectations regarding the outcome of the IMF mission visit to Kyiv. The next revision of the key policy rate is scheduled for Oct. 25. In our opinion, a further rate hike is possible only if the situation on external markets deteriorates.
8.3 Stock market
8.3.1 Equity market dynamics
The shareholders of PJSC Ukrainian Exchange (Kyiv), following a meeting on August 31, has approved the decision to issue 14,063 additional shares and offer the securities to Bohai Commodity Exchange (BOCE). According to the report on the Facebook page of the Ukrainian Exchange, at present the share capital of the stock exchange consists of 25,000 shares with a nominal value of UAH 1,000.
Kyiv-based investment group Investment Capital Ukraine (ICU), controlled by associates of the nation's President Petro Poroshenko, has launched first five investment projects , according to the group's director Roman Nikitov. "We only have started investing this year, it took us several years to make this decision," Interfax news agency quoted Nikitov as saying. "We made five investments." According to Nikitov, the ICU strategy involves investments from $200,000 to $1mn. "Our strategy is to support Ukrainian innovations, invest in companies that are either based in Ukraine or have relations with Ukraine, and more broadly - Eastern Europe. We invest in almost all sectors except those that we do not understand." He added that among the promising areas are agro-technology, cyber security and infrastructure solutions with blockchain
45 UKRAINE Country Report October 2018 www.intellinews.com