Wires

EMERGING MARKETS-Brazilian assets slide ahead of Copom meet, Fed decision eyed

eyed@

Sept 18 (Reuters) - Latin American markets were on the back foot on Wednesday led by losses in Brazilian assets with investor attention focused on monetary policy decisions in the United States and Brazil. MSCI's index of Latin American stocks fell 0.3% on the back of losses in index heavyweights Brazil and Mexico, while currencies in the region were mostly lower. Brazil's real fell 0.6% against the dollar ahead of the central bank's meet where the Monetary Policy Committee (Copom) is expected to cut its benchmark interest rate to a new low according to a Reuters poll of economists. "Our economists expect the central bank to deliver a 50bp cut today, but see the pace of easing slowing down into year-end and becoming more data-dependent," said Morgan Stanley analysts in a note. Since Copom cut rates at the end of July, central bank president Roberto Campos Neto has said several times that low inflation and a "benign" outlook provide room for further policy "adjustment." Focus was also on an expected quarter-point rate cut by the U.S. Federal Reserve later in the day, which would be the second of the year and set the tone for future monetary policy. Mexico's peso traded flat, while the Colombian peso outperformed its regional peers as oil prices pared some of its losses after data from the Energy Information Administration showed surprise build in U.S. crude stock piles.

Markets in Chile were shut for a public holiday.

Latin American stock indexes and currencies at 14:35 GMT

Stock indexes daily %Latest changeMSCI Emerging Markets 1021.06 0.21MSCI LatAm 2716.73 -0.15Brazil Bovespa 104470.21 -0.24Mexico IPC 43261.04 -0.13Chile IPSA - -Argentina MerVal - -Colombia IGBC 12989.79 -0.12Currencies daily %Latest changeBrazil real 4.0975 -0.49Mexico peso 19.3600 0.01Chile peso - -Colombia peso 3378.97 0.19Peru sol 3.341 -0.09Argentina peso - -

(interbank)

(Reporting by Agamoni Ghosh in Bengaluru; Editing by Lisa Shumaker)