* MSCI Latam stocks, currency indexes at 1-mth highs * Brazil stocks hit record high * Mexican peso subdued as industrial production dips By Ambar Warrick Dec 12 (Reuters) - Latin American assets firmed on Thursday, with Brazil stocks at a record high as the prospect of an accommodative U.S. Federal Reserve posited a risk-on sentiment that was reflected across global markets. At its final meeting of 2019, the Fed held on rates and said it was likely to do so in the near term. The rhetoric bought down the U.S. dollar, and appeared to have distracted markets from the uncertainty surrounding a Dec. 15 deadline for further U.S. tariff action against China. Against this backdrop, global stocks rallied, with the MSCI's broadest world share index just a few points shy of a record high. Markets were also anticipating an election in Britain that would likely determine the fate of its proposed exit from the European Union. Brazil's benchmark stock index touched a record high after the country's central bank cut interest rates to a record low on Wednesday, as expected. Financials and material stocks were the biggest boost to the index. The bank said it would likely pause on its current easing cycle, which prompted the real to its highest level against the dollar in more than one month. "The real should receive support as the door to rate cuts slowly closes, it has already been benefiting from FX intervention and better economic data," Dirk Willer, head of emerging market strategy at Citi Research, and Kenneth Lam, an emerging markets FX strategist, wrote in a note. Data also showed Brazil's services activity expanded faster- than-expected in October, indicating that certain facets of Latin America's largest economy were recovering at a strong pace. Chilean stocks hovered around three-week highs, eyeing a fourth straight session of gains, while the peso closed in on a one-month high to the dollar. Gains in the peso were somewhat constrained by a dip in the prices of copper, Chile's top export. Telecommunications provider Empresa Nacional de Telecomunicaciones SA led gains on the Chilean stock index. The Mexican peso was largely subdued, as industrial output in the country fell 1.1% in October from the prior month, and 3% from last year. The MSCI's Latin American stocks index and currencies index both touched a more-than one month high. Key Latin American stock indexes and currencies at 0203 GMT Stock indexes Latest Daily % change MSCI Emerging Markets 1068.29 0.95 MSCI LatAm 2789.12 0.37 Brazil Bovespa 111469.22 0.46 Mexico IPC 43195.19 1.32 Chile IPSA 4793.09 0.17 Argentina MerVal - - Colombia COLCAP 1605.32 0 Currencies Latest Daily % change Brazil real 4.1196 -0.02 Mexico peso 19.0971 0.09 Chile peso 769.2 0.09 Colombia peso 3375.02 -0.02 Peru sol 3.392 0.00 Argentina peso 59.8150 0.01 (interbank) (Reporting by Ambar Warrick in Bengaluru Editing by Nick Zieminski)