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Banxico chief says rate cut a possibility at June meeting

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Brazil's BTG Pactual posts 28% net income jump in Q1

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IMF staff, Argentina agree loan review to help unlock $800

mln

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Latam stocks up 0.1%, FX off 0.1%

(Updated at 1927 GMT)

By Shashwat Chauhan and Johann M Cherian

May 13 (Reuters) - Most currencies and stocks in

resources-rich Latin America had a tepid start to the week, with

investors exercising caution ahead of key U.S. inflation data

later in the week that could offer clues on the outlook for

monetary policy.

As of 1927 GMT on Monday, MSCI's index for Latin American

currencies was down 0.1% against the dollar,

while a gauge for stocks was up 0.1%.

Top on investors' watchlist is U.S. consumer and producers

prices data for the month of April, due during the week, which

could offer insights into when the Federal Reserve could

kickstart its monetary policy easing cycle and thereby the

trajectory of the dollar.

Brazil's real inched up 0.1% following last week's

1.7% drop after the iron ore exporter's central bank slowed the

pace of rate cuts. On Tuesday markets will parse through minutes

of the Copom's meeting.

Mexico's peso was flat. Governor Victoria Rodriguez

said Banxico will discuss the possibility of resuming interest

rate cuts at the upcoming June meeting, adding that it could cut

rates even if the Fed decides to keep its rates steady at its

next scheduled meeting.

"We wouldn't be surprised if Mexico will wait a little

longer or slows down just to catch up with the Fed," Eduardo

Ordonez Bueso, EM debt portfolio manager at BankInvest said.

"The sentiment so far, not only in Mexico but across borders

is that, there might be a delay in cuts because they (central

banks) really want to wait for the Fed to act."

Copper producer Chile's peso outperformed peers,

climbing 0.4% as prices of the red metal surged, while trading

of Colombia's peso was thinned as local markets were shut

on account of a public holiday.

Most currencies in the region have depreciated, while most

local equity indexes are in gains year-to-date, as domestic

central banks kicked off their respective policy easing cycles

earlier in the year.

Among individual bourses, Brazil's Bovespa added

0.4%, underpinned by gains in financials stocks.

Banco BTG Pactual added 1.8% after Latin

America's biggest investment bank, reported record adjusted net

income and revenue for the first quarter.

Azul gained around 2.3% after the Brazilian

airline said its losses narrowed in the first quarter to 324.2

million reais ($62.86 million).

Argentina's MerVal index slid 2.5% to a weeks low,

ahead of data on Tuesday where analysts polled by Reuters expect

inflation to likely dip back into single digits for the first

time in half a year in April,

Elsewhere, staff of the International Monetary Fund (IMF)

and Argentine authorities reached agreement on the eighth review

of the country's $44 billion extended fund facility arrangement.

Key Latin American stock indexes and currencies:

Latin American market

prices from Reuters

Stock indexes Latest Daily %

change

MSCI Emerging Markets 1078.76 0.66

MSCI LatAm 2494.05 0.2

Brazil Bovespa 128139.23 0.42

Mexico IPC 57798.46 0.14

Chile IPSA 6689.08 0.73

Argentina MerVal 1372463.82 -2.49

Colombia COLCAP 1390.38 0.24

Currencies Latest Daily %

change

Brazil real 5.1513 0.11

Mexico peso 16.7984 -0.29

Chile peso 922.8 0.23

Colombia peso 3888 -0.02

Peru sol 3.7179 -0.08

Argentina peso 884.0000 -0.06

(interbank)

Argentina peso 1025 1.46

(parallel)