EMERGING MARKETS-Brazil's real rises after intervention, broader Latam FX inches down

        *
      Colombia c.bank's December policy meeting minutes due


        *
      Latam FX up 0.1%, stocks flat



 (Updates with afternoon prices)
    By Shashwat Chauhan
       Dec 26 (Reuters) - Most Latin American currencies were
slightly weaker in holiday-thinned trade on Thursday, though
Brazil's real advanced against the dollar after its central bank
intervened in the forex market to support the sliding currency.
    Brazil's real gained 0.2% against the dollar after
its central bank sold $3 billion in a spot auction, extending a
series of interventions in the foreign exchange market amid a
greenback outflow from Latin America's largest economy.
    The real hovers near all-time lows hit earlier this month in
the face of a stronger dollar and a deepening financial crisis
sparked by fiscal policy concerns.
    Most markets reopened after the Christmas break, though
volumes were expected to be low heading into the new year.
    Mexico's peso weakened 0.2%, while Chile's peso
 held firm at 988.68 per dollar.
    In Colombia, minutes from its central bank's last policy
meeting, where it cut rates by a smaller-than-anticipated 25
basis points, are due later in the day.
    "We expect the minutes to echo the post-meeting message
about the importance of a cautious cutting cycle to minimize the
risks of derailing the disinflation process, while acknowledging
that there is room to dial back the still elevated level of
policy restraint," Goldman Sachs economists wrote in a note.
    On Tuesday, Mexican central bank deputy governor Jonathan
Heath told Reuters that the central bank's board could discuss a
rate cut of either 25 basis points or 50 basis points in its
next decision in February.
    MSCI's index for Latin American currencies
inched 0.1% up, while a gauge for stocks pared
gains and was now flat.
    Both MSCI's Latin American broader stock and currency
indexes are set for steep yearly losses - almost 30% and over
10%, respectively - lagging broader EM assets, as many regional
central banks grapple with rising inflation.
    The outlook for 2025 is also likely to be challenging with
persistently high U.S. rates hitting demand for emerging market
assets, with the threat of broad global tariffs from U.S.
President-elect Donald Trump's administration also likely to
weigh.
    Elsewhere in emerging markets, Turkey's central bank cut its
key interest rate by 250 basis points to 47.5%, a bit more than
expected.
    The Russian central bank said it will cut its net forex
sales by almost 60% in the first working week of 2025,
withdrawing some support for the rouble, which weakened slightly
in response, but remained at around 100 to the U.S. dollar.

    HIGHLIGHTS
    ** Guatemala open to accepting Trump's Central American
deportees, sources say
    ** World Bank raises China's GDP forecast for 2024, 2025
    ** Moldova's parliament passes 2025 budget with deficit at
4% of GDP

    Key Latin American stock indexes and currencies:








 MSCI Emerging Markets        1084.07           -0.16

 MSCI LatAm                   1878.58            0.01

 Brazil Bovespa             121140.61            0.31
 Mexico IPC                  49534.75            0.44
 Chile IPSA                   6691.09            0.39
 Argentina Merval           2606631.5            2.18
                                    8
 Colombia COLCAP              1381.76           -0.14








 Brazil real                   6.1775            0.21
 Mexico peso                  20.1881           -0.19
 Chile peso                    988.68            0.04
 Colombia peso                   4393            -0.5
 Peru sol                        3.74           -0.27
 Argentina peso                1028.5           -0.24
 (interbank)
 Argentina peso (parallel)       1190            0.84




 (Reporting by Shashwat Chauhan in Bengaluru; Editing by
Alistair Bell)