EMERGING MARKETS-Latam assets rebound on China policy support cheer, Fed rate path eyed

* Brazil's central bank chief says GDP may surprise upwards * Mexico's president presents constitutional reforms * Latam FX up 1%, stocks jump 2% By Amruta Khandekar Feb 6 (Reuters) - Most Latin American stocks and currencies climbed on Tuesday as China's efforts to ramp up support for its downtrodden markets boosted risk appetite, though caution about the timing of U.S. interest rate cuts kept a lid on gains. MSCI's index for Latin American currencies gained 1.0% while regional stocks jumped 2.1%, in line with broader emerging market peers. Both Latam stocks and forex indexes have risen after two straight days of declines that were driven by data showing a strong U.S. economy and hawkish rhetoric from policymakers which dented expectations of rate cuts by the Federal Reserve in March. Aiding sentiment towards risk-sensitive emerging market assets on Tuesday were a slew of announcements from China's securities regulator, which signaled more support for the country's battered stock markets. The policy support measures from the top metals consumer lifted prices of copper, helping Chile's peso bounce off an over one-year low, last up 0.5%. Chile is the world's leading copper producer. The Brazilian real rose 0.5% after central bank governor Roberto Campos Neto said an upward surprise in economic activity is anticipated. Earlier on Tuesday, the central bank wrote in the minutes of its latest policy decision that a tighter labor market, with above-inflation wage rises, could slow inflation convergence. "For the Copom (monetary policy committee), inflation expectations remain unanchored and that is a source of concern. The forward guidance (unchanged) signals the maintenance of the current pace of rate cuts in the next meetings and the need to maintain a contractionary monetary stance," Goldman Sachs economists said in a note. Heavyweight Brazilian stocks led the charge among Latam indexes, gaining 1.6% with lender Bradesco up nearly 5% and among top gainers. Brazilian payment processor Cielo said late on Monday Bradesco and Banco do Brasil - its main stakeholders - had decided together with Grupo Elopar to launch a tender offer to take Cielo private. The Mexican peso advanced 0.4% against the dollar while regional stocks dipped 0.3% following a public holiday on Monday. Mexico's president proposed sweeping constitutional reforms in a speech on Monday, including measures to overhaul the judiciary, electoral law, pensions and environmental regulations just months before a presidential election. Also boosting the Mexican peso were higher oil prices as the country is a top crude exporter. Colombia's peso was flat. Argentinian stocks slipped 1.2%. Lower-house lawmakers in Argentina on Tuesday will resume voting on individual articles of libertarian President Javier Milei's controversial reform bill. Key Latin American stock indexes and currencies at 1510 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 999.09 1.6 MSCI LatAm 2576.47 2.11 Brazil Bovespa 129649.90 1.61 Mexico IPC 58043.03 -0.32 Chile IPSA 6023.00 0.3 Argentina MerVal 1246894.77 -1.118 Colombia COLCAP 1274.37 0.15 Currencies Latest Daily % change Brazil real 4.9580 0.47 Mexico peso 17.0355 0.44 Chile peso 948.7 0.50 Colombia peso 3950.96 0.00 Peru sol 3.8549 -0.11 Argentina peso 829.5000 -0.05 (interbank) Argentina peso 1130 2.65 (parallel) (Reporting by Amruta Khandekar; Editing by Andrea Ricci)