Russian banks and companies may face higher money market rates or a weaker rouble due to the U.S. withdrawal of monetary stimulus, Russia's central bank warned on Tuesday, highlighting a potential risk to heavily indebted firms. The U.S. Federal Reserve last week said it would begin reducing the amount of money it pumps out every month, leading investors to pull out of high-yielding assets and central banks in emerging markets to act to stem currency slides. Russia's central bank may also face a dilemma as it moves to inflation targeting and aims to make the rouble float freely by 2015. Capital outflows may prompt it to counteract the weak rouble by letting interest rates rise, or to allow the rouble to depreciate but risk higher inflation - which could hurt companies with high debt.
via Business News - Yahoo Finance http://finance.yahoo.com/news/russian-firms-risk-u-fed-105447495.html
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