“Inflation is still a problem, and unfortunately in Brazil cutting rates won’t help growth,” Luis Oganes, global head of emerging markets research at JPMorgan Chase, said in the article. “You need reforms … and ahead of an election no one is going to invest more in Brazil if they cut rates.”

Brazil is scheduled to play against Chile on Saturday in the first of the World Cup’s knockout rounds.

iShares MSCI Brazil Capped ETF

For more information on Brazil, visit our Brazil category.