* Turkey's central bank decision at 1100 GMT
* Czech monetary policy decision due 1330 GMT
* Argentine President Milei signs decree
* Stocks, FX down 0.2% each
Dec 21 (Reuters) - The Turkish lira and the Czech Republic's crown were steady ahead of crucial monetary policy decisions on Thursday, while the broader emerging markets assets slipped as market optimism over the Federal Reserve's dovish stance lost some fizz.
Turkey's lira was muted at 29.1500 per dollar ahead of a local monetary policy meeting, where the central bank is expected to raise interest rates by 250 basis points to 42.5%
The benchmark BIST 100 stock index edged up 0.2%.
Turkey's pivot back to orthodox fiscal policies could pay off with record debt issuance and the continued return of foreign investors in 2024, JPMorgan Managing Director Stefan Weiler told Reuters.
The Czech crown was steady against the euro with the Czech National Bank(CNB) expected to make its first interest rate cut in more than three years on Thursday as the central European country's policymakers meet amid a backdrop of slowing inflation and a sagging economy.
Markets are pricing in a rate cut, and 12 of 15 analysts in a Reuters poll forecast a 25 basis point reduction.
"The meeting looks like a close call to us, but we think the balance of risks just about leans in favour of the CNB delivering an early Christmas present in the form of a 25bp rate cut," said Nick Rees, FX market analyst at Monex Europe.
"We think the stream of weakening data opens the door for policymakers to begin easing rates to support the economy, with this likely underpinning the recent dovish shift in rhetoric from the CNB, indicative that a cut is very much on the table later today," Rees added.
The broader MSCI's gauge of emerging market stocks inched down 0.2%, while a basket of currencies dipped 0.2% against the dollar by 1000 GMT.
Across Asia, stocks and currencies were mixed.
Indonesia's rupiah slipped 0.1% as its central bank stood pat on policy rates.
The rally across emerging market assets spurred by the Fed's dovish narrative has somewhat abated as investors remain cautious ahead of U.S consumer spending data on Friday, that could offer further clues on the rate-cut outlook.
In South America, Argentine libertarian President Javier Milei on Wednesday signed a decree outlining economic reforms including an end to limits on exports plus measures to loosen regulations, as his new government combats a severe economic crisis.
In frontier markets, The Egyptian central bank's policy decision is due later in the day, where it is expected to keep rates unchanged. (Reporting by Siddarth S in Bengaluru; Editing by Tasim Zahid)
