* Brazil's real up 0.7% * Mexican markets cheer vote down of energy reform bill * Argentine peso slides; inflation surges more then expected * Brazil's Banco Inter up as it resumes listing work (Adds details, updates prices) By Susan Mathew April 18 (Reuters) - Brazil's real rallied on Monday on expectations of continued monetary policy tightening, while most other Latin American currencies fell against a strong dollar. The real rose 0.7% to around 4.66 a dollar after ending last week flat. Stronger-than-expected domestic inflation data on Monday fueled bets that the central bank will extend its monetary tightening cycle beyond the May meeting, said Jefferson Rugik, executive director of Correparti. Mexico's peso also rose, while most other emerging market currencies slipped as the dollar hit nearly two-year highs. Expectations of aggressive monetary policy tightening by the U.S. Federal Reserve this year to tame surging inflation have lifted U.S. bond yields and the dollar this year, pressuring riskier assets. In Mexico, business groups cheered the opposition's voting down of President Andres Manuel Lopez Obrador's major electricity reform that had clouded the country's energy market. But uncertainty remains as Lopez Obrador tries to reinforce state domination of the industry. The world's second biggest copper exporter Peru's peso slipped after MMG Ltd's Las Bambas copper mine in the country suspended operations after residents of a nearby community entered company property as part of a protest. In Chile, the lower house will debate and vote on two proposals for the early withdrawal of pensions on Monday, one by legislators and another by President Gabriel Boric, as he tries to juggle inflation and populist demands. Argentina's peso fell 0.6% despite heavy controls. Argentine monthly inflation climbed to 6.7% in March, data showed last week, taking annual inflation to 55.1%, above estimates. Argentina's benchmark interest rate is set to be hiked by 250 basis points to 47%, a central bank source told Reuters on Wednesday. "Strong (Argentine) inflation data suggests that the government will fail to meet the IMF's target to reduce inflation this year. There's a risk this will be a prelude to broader slippage on the terms of its new deal with the Fund," said Nikhil Sanghani, EM economis at Capital Economics. Among stocks, Brazil's Bovespa index hit four-week lows, in line with a weakness in broader developing market bourses. Material and energy names led losses with miner Vale down 1.5%. Creditors of Brazilian miner Samarco Mineracao SA, a joint venture of Vale and BHP, on Monday rejected the debt restructuring plan presented by the company in an online creditors assembly. Losses were limited by banks, with SoftBank-backed Banco Inter up 5.3% after the company announced it had resumed a process to transfer its shareholder base to Inter & Co Inc and be listed on the Nasdaq. Key Latin American stock indexes and currencies at 1836 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1106.88 -0.54 MSCI LatAm 2603.29 0.56 Brazil Bovespa 115863.71 -0.27 Mexico IPC 54324.22 0.28 Chile IPSA 4898.44 -0.38 Argentina MerVal 91427.13 0.424 Colombia COLCAP 1610.20 -0.3 Currencies Latest Daily % change Brazil real 4.6610 0.74 Mexico peso 19.8912 0.25 Chile peso 816.1 -0.20 Colombia peso 3728.51 -0.25 Peru sol 3.736 -0.08 Argentina peso 113.6300 -0.58 (interbank) (Reporting by Susan Mathew in Bengaluru and Luana Maria Benedito in Sao Paulo; Editing by Nick Macfie and Barbara Lewis)
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