An improvement in Brazil’s sovereign credit rating hinges more on stronger economic growth than lower interest rates, ratings agency Moody’s said on Tuesday, urging economic reform and the shoring up of public finances.
Brazil’s central bank has slashed interest rates by 100 basis points to a new low of 5.50% and seems set to cut again, and the government is trying to implement a radical agenda of pension and tax reform, privatization and deregulation.
Brazil Energy Insight 
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