*

Brazil consumer prices up in mid-March, annual inflation

slows

*

Peru economy likely grew 2-3% in February - minister

*

Nigeria hikes rates for second straight time

*

FX up 0.2%, stocks up 0.5%

(Updated at 4 p.m. ET/2000 GMT)

By Ankika Biswas and Lisa Pauline Mattackal

March 26 (Reuters) -

Most Latin American currencies and equity markets were

steady on Tuesday in muted trading, while Nigeria's sovereign

international dollar bonds rose following a 200 basis-point rate

hike.

The MSCI index for Latam currencies was up

0.2% and a gauge of regional stocks firmed 0.5%,

in the green for the first time in four sessions.

Trading was quiet on a data-light day and ahead of the Good

Friday holiday on which many markets around the world will be

closed.

Investors also looked ahead to a key U.S. inflation

print on deck Friday for further confirmation on the path of

interest rates in the world's largest economy, and how that

could impact appetite for riskier emerging market assets.

"We think Fed rate cuts combined with a U.S. soft

landing and relatively benign financial market conditions should

lead to an overall dollar downtrend against many G10 and

emerging market currencies," analysts at Wells Fargo said.

Meanwhile, Nigeria raised its rate to 24.75%, its second

straight hike in an attempt to tame soaring inflation, boosting

sovereign international dollar bonds.

The 2029 note saw the biggest rise, up 1.4

cents as high as 97.91 cents on the dollar, its highest price in

almost two years, according to Tradeweb data. The bond was last

trading at 97.565 cents on the dollar.

"Governor Cardoso's desire to bring inflation crisis to a

close and also strengthen the naira will lead to more

tightening. We have penciled in further 100-bps hikes in May and

July each before the hiking cycle is brought to a close," David

Omojomolo, an Africa-focused economist with Capital Economics

wrote.

In Latin America, data showed Brazil's consumer prices rose

slightly more than expected in their mid-March reading but the

12-month print slowed to its lowest level since last year. The

real was down XX% against the dollar.

Brazil's central bank said discussions on more modest

interest rate cuts in the future emerged within the rate-setting

committee.

Colombia's peso jumped 1.3% to its highest in

three months at 3845.5 to the dollar.

Mexico's stock exchange outperformed other

regional bourses, rising 1.2%, helped by a 4.2% rise in shares

of Grupo Banorte.

Peru's Economy Minister Jose Arista highlighted the economy

likely grew between 2%-3% in February versus the year-ago

period, a positive sign as it aims to climb out of recession.

Highlights

** Hungary

cut its rate to 8.25%, slowing the pace of easing after its

currency fell to a one-year low

** Mexico's Pemex bids for more favorable financing rates

with sustainability plan

Key Latin American stock indexes and currencies at 2000 GMT:

Latest Daily %

change

MSCI Emerging Markets 1039.47 0.32

MSCI LatAm 2517.89 0.48

Brazil Bovespa 126897.71 -0.03

Mexico IPC 57227.95 1.19

Chile IPSA 6520.39 0.4

Argentina MerVal 1214588.18 0.139

Colombia COLCAP 1318.11 -0.86

Currencies Latest Daily %

change

Brazil real 4.9803 0.06

Mexico peso 16.6505 0.14

Chile peso 979.9 0.07

Colombia peso 3845.5 1.27

Peru sol 3.6953 -0.01

Argentina peso 856.5000 0.00

(interbank)

Argentina peso 995 2.51

(parallel)

(Reporting by Ankika Biswas and Lisa Mattackal in Bengaluru;

editing by Ed Osmond and Marguerita Choy

)