*
      Latam stocks, FX off 0.4% each


        *
      Russian central bank holds rates at 21%


        *
      Turkish assets continue to slide


        *
      Colombia's peso worst hit in Latam this week



 (Updates with mid-session trading)
    By Shashwat Chauhan and Purvi Agarwal
       March 21 (Reuters) - Most Latin American currencies
slipped on Friday as the dollar remained firm, wrapping up a
week packed with interest rate decisions, including in Brazil
and the United States.
    The dollar index held on to its gains heading into
the weekend after the U.S. Federal Reserve on Wednesday
indicated that it saw no rush to cut interest rates.
    Fed Chair Jerome Powell said U.S. President Donald Trump's
initial policies, including extensive import tariffs, appear to
have tilted the U.S. economy toward slower growth and at least
temporarily higher inflation.
    Trump hinted at some flexibility on tariffs on Friday,
though the details remained unclear.
    The higher dollar weighed on Latam currencies, with the
Brazilian real leading losses in the region. It fell 0.6%
and was set for a slight weekly decline.
    Brazil's central bank raised interest rates by 100 basis
points, but signaled smaller hikes going forward.
    The Mexican peso lost 0.5%, set for its biggest
weekly loss since late January.
    Chile's peso weakened 0.2% ahead of an interest rate
decision later in the day, with consensus tilted toward the
central bank keeping its main lending rate at 5%.
    "With inflation leveling off in Chile just below 5% -
against an inflation target of 3% - further rate cuts are
unlikely in 2025," said Thierry Wizman, global FX & rates
strategist at Macquarie.
    However, Citigroup analysts said, "we believe the central
bank could still opt for a total 50bps in cuts in 2025, which we
pencil in as two 25bps in the last two quarters of the year.
    "Delays in Fed cuts could delay Chile's central bank moves,
or lead to a change of guidance towards a higher terminal rate."
    Colombia's peso bucked the trend, gaining 0.7%, but
was on pace to be the worst performing currency in Latin America
this week.
    The currency was hit hard after Colombian Finance Minister
Diego Guevara announced his resignation on Tuesday, amid clashes
over budget cuts and just hours after lawmakers rejected a labor
reform championed by leftist President Gustavo Petro.
    Meanwhile, a report said the International Monetary Fund
will discuss a new $20-billion loan for Argentina in an informal
meeting next week. The peso was flat.
    Uncertainty around U.S. trade policy and worries of an
American economic slowdown have induced volatility in global
markets.
    MSCI's index for Latin American stocks was
down 0.4%, along with the currencies index,
which was on track to log its first weekly loss in three weeks.
    Regional stocks were mixed, while Argentina's Merval
gained 2.5%.
    On a year-to-date basis, Brazil's real stands as the best
performing currency among emerging markets, while Turkey's lira
 and the Indonesian rupiah have fared the
worst.
    Turkish assets sold off for a third straight day, triggering
two market-wide circuit breakers on Borsa Istanbul, as the lira,
equities, and bonds extended losses following the detention of
President Tayyip Erdogan's main political rival on Wednesday.
    Debt markets in other frontier countries were also under
pressure, with long-dated dollar bonds in Kenya and Egypt
sliding more than 1 cent on the dollar, Tradeweb data showed.
    The Russian central bank kept its benchmark interest rate on
hold at 21% as expected and said more rate hikes were possible
as inflationary pressures have decreased but remain high.

    Key Latin American stock indexes and currencies:
 Equities                    Latest     Daily %
                                        change
 MSCI Emerging Markets            1131      -0.85

 MSCI LatAm                    2120.74      -0.39
 Brazil Bovespa               131998.4       0.03
 Mexico IPC                   52748.71      -0.66
 Chile IPSA                    7585.81       0.14
 Argentina Merval            2420238.3       2.48
                                     1
 Colombia COLCAP               1597.87      -0.62

 Currencies                  Latest     Daily %
                                        change
 Brazil real                     5.715      -0.62
 Mexico peso                   20.2345       -0.5
 Chile peso                      928.5      -0.22
 Colombia peso                    4142       0.65
 Peru sol                        3.633      -0.35
 Argentina peso (interbank)       1068       0.09

 Argentina peso (parallel)        1260       0.40



 (Reporting by Shashwat Chauhan and Purvi Agarwal in Bengaluru;
Editing by Rod Nickel)