UPDATE 1-Peru’s central bank: inflation may hit target sooner than expected

Peru's inflation rate could converge to the central bank's target sooner than expected, the head of the bank said on Wednesday, arguing that the rate of rising prices in the Andean nation is now under control. "We expect it to return to the (target) range, if not in December, in the first quarter or in April next year," central bank head Julio Velarde said, hinting at an earlier-than expected easing of inflation. The central bank had previously said inflation would converge to target in April.