Dec 14 (Reuters) - Peru's central bank on Thursday slashed its interest rate by 25 basis points to 6.75%, in line with expectations and as the speed of price increases in the Andean nation comes under control amid a recession.

The monetary authority signaled in a statement that the rate cut did not necessarily imply a consecutive easing cycle.

The central bank's fourth-consecutive cut comes as Peru's annual inflation rate slowed to 3.64% in November, nearing the upper end of the bank's target range.

On Wednesday, central bank head Julio Velarde said that the inflation rate could come within the target range as soon as this month.

"If not in December, in the first quarter or in April next year," Velarde said. (Reporting by Kylie Madry; Editing by Sarah Morland)