(Adds quote, updates prices) By Aaron Saldanha Nov 15 (Reuters) - Latin American currencies gained on Thursday, with Mexico's peso firming 0.9 percent as the country's central bank made hawkish comments after an interest rate hike and warned that the incoming government's policies could fan inflation. MSCI's index of currencies in Latin America rose 0.2 percent, while its index of regional stocks was little changed. A quarter percentage point hike in the Bank of Mexico's overnight interbank rate to 8 percent was largely expected but members of the bank were divided over the decision, with one of them calling for a more hawkish 50 basis point-hike. Sacha Tihanyi, deputy head of emerging markets strategy at TD Securities, said the bank's tightening was driven by both inflation dynamics and the substantial rise in fiscal uncertainty. He expects both factors to "keep the central bank in hiking mode for the time being." The peso was supported by central bank comments that it could hike rates again and its warning on the policies of the incoming government of President-elect Andres Manuel Lopez Obrador. The bank warned that the peso's exchange rate was affected by the cancellation of the new Mexico City airport and concerns about policies of the new administration. Lopez Obrador's administration shocked markets toward the end of October by scrapping an already started airport project. An advisor to Lopez Obrador said the cost of cancellation would be around 0.7 percent of the country's gross domestic product. A senator's proposal last week to cap and eliminate certain banking commissions, apparently contradicting Lopez Obrador's policy, has battered investor sentiment. Mexican stocks fell 2.1 percent on Thursday, down for a fourth straight session. The central bank said on Thursday it would take any necessary action to ensure inflation falls back toward its target range of 3.0 percent, plus or minus 1 percentage point. The annual inflation rate was 4.9 percent in October. On a day when Brazil's real and the Bovespa stock index did not trade due to a holiday, economist Roberto Campos Neto accepted an invite to be the Brazilian central bank's next chief. Mansueto Almeida will remain treasury secretary of Latin America's largest economy under President-elect Jair Bolsonaro, who starts his term in January. Argentina's peso declined 0.4 percent. Data showed consumer prices in the inflation-troubled country rose 5.4 percent in October. Inflation is expected to top 47 percent by the end of the year, according to the central bank's latest poll. Local stocks shot up 3.8 percent. Energy firm YPF Sociedad Anonima gained 4.4 percent. Key Latin American stock indexes and currencies at 2157 GMT Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 980.85 1.31 -15.33 MSCI LatAm 2583.29 0.02 -8.66 Mexico IPC 41450.65 -2.11 -16.01 Chile IPSA 5175.96 0.78 0.78 Argentina MerVal 30473.82 3.75 1.36 Colombia IGBC 12326.61 1.35 8.41 Currencies daily % YTD % change change Latest Mexico peso 20.2308 0.86 -2.63 Chile peso 676.1 0.00 -9.09 Colombia peso 3187.75 0.45 -6.45 Peru sol 3.382 0.00 -4.29 Argentina peso 36.0400 -0.25 -48.39 (interbank) (Reporting by Aaron Saldanha in Bengaluru, Additional reporting by Sheky Espejo and Miguel Angel Gutierrez in Mexico City; Editing by Richard Chang)