EMERGING MARKETS-Dollar strength weighs on Latam FX, Peru's sol rises as rate decision on tap

* Brazil's retail sales unexpectedly rise in Feb to 24-year high * Argentina's central bank cuts benchmark interest rate to 70% * Colombia economy will grow 3.4% in 2025, says cenbank chief * Mexico Feb industrial production falls 0.1% vs Jan * Latam stocks down 0.3%, currencies off 0.2% (Updated at 3:45pm ET/1945 GMT) By Bansari Mayur Kamdar April 11 (Reuters) - Latin American currencies fell for a second straight day on Thursday as investors assessed a mixed U.S. inflation picture this week, while Peru's sol bucked weakness in regional peers ahead of the country's central bank decision on interest rates. The MSCI index for Latam currencies slipped 0.2% a day after shedding more than 1%, as the dollar soared on hotter-than-expected U.S. consumer prices data. The Peruvian sol rose 0.7% against the dollar ahead of the rate decision for the world's No. 2 copper producer after the monetary authority unexpectedly held its benchmark interest rate at 6.25% in March. "We expect the MPC (monetary policy committee) to cut its policy rate by 25 bps to 6.0%," said economists at Goldman Sachs. "The MPC implied that it retained its easing bias, as it lowered the marginal reserve requirement in local currency by 50 bp to 5.50% (it had remained fixed since May 2022)." Emerging market currencies have come under pressure this week as the dollar has gained on expectations that U.S. rate cuts could occur later in 2024 than previously expected. T raders bet on Thursday the Federal Reserve could start easing policy in July, following a weaker-than-expected U.S. producer prices print. Market pricing prior to the data favored September for the first hike, versus June at the start of the week. Argentina's central bank cut its benchmark interest rate to 70% from 80%, citing a "pronounced slowdown in inflation." Reuters reported earlier in the week a rate cut was likely. Argentina's Merval stock index rose 1.8%. The Brazilian real eased 0.2% against the greenback. Data showed retail sales in Brazil rose unexpectedly in February to the highest in at least 24 years. Chile's peso and the Colombian peso fell 0.1% and 0.5% respectively. The Colombian central bank's technical team estimated the Andean country's economy will grow 3.4% in 2025, board chief Leonardo Villar said. Latin American shares slipped 0.3%. Mexico's peso eased 0.16% against the dollar. Data showed Mexican industrial output fell 0.1% in February from January and was 3.3% higher year-over-year. HIGHLIGHTS: ** IMF chief says Pakistan seeking potential follow-up loan program ** Colombia looks to loosen regulation on gas exploration and supply ** Uruguay central bank cuts interest rate by 50 bp to 8.50% ** Morgan Stanley raises China's 2024 growth forecast to 4.8% ** March CPI dips in Hungary and Romania ** Ethiopia faces tough devaluation decision to secure IMF bailout Key Latin American stock indexes and currencies at 1945 GMT: Latest Daily % change MSCI Emerging Markets 1054.89 -0.28 MSCI LatAm 2519.76 -0.26 Brazil Bovespa 127418.55 -0.5 Mexico IPC 56753.21 0.21 Chile IPSA 6717.09 0.43 Argentina MerVal 1255788.16 1.77 Colombia COLCAP 1413.11 1.08 Currencies Latest Daily % change Brazil real 5.0890 -0.22 Mexico peso 16.4363 -0.16 Chile peso 954.9 -0.12 Colombia peso 3822.5 -0.46 Peru sol 3.678 0.71 Argentina peso 865.5000 0.00 (interbank) Argentina peso 980 2.04 (parallel) (Reporting by Bansari Mayur Kamdar and Lisa Mattackal in Bengaluru; Editing by Richard Chang)