Because Brazil depends so heavily on the expert of raw materials like oil, steel and soybeans, a drop in consumption and demand will reverberate back to major firms like Petrobras and Vale ( VALE ). Analysts are predicting that the Reserve Bank of India will raise rates by another 25 basis points in September, trying to prevent the economy from overheating. Meanwhile, Bloomberg writes that the Brazilian central bank may actually lower rates, risking higher inflation - long a bugbear of the South American economy - to stave off the negative effects of global slowdown.