Sau Paulo — Investors on Friday welcomed the appointment of Santander executive Roberto Campos to head Brazil’s central bank as a sign president-elect Jair Bolsonaro will entrust economic and monetary policy to a market-friendly team of economists. Sao Paulo’s Bovespa stock index surged as much as 2.65% on Friday and Brazil’s currency, the real, strengthened 1.2% against the dollar, following Thursday’s announcement by incoming finance minister Paulo Guedes. Analysts said Bolsonaro, a former army captain and lawmaker who has admitted having scant knowledge of economics, was assembling an experienced economic team to implement his plans to slash government spending, simplify Brazil’s complex tax system and sell off state-run companies. Campos, the treasury director at Banco Santander Brasil, with hands-on trading desk experience, will take over the central bank early in 2019 from Ilan Goldfajn. Under Goldfajn, the bank’s benchmark interest rate dropped to 6.5% from 14.25% in 2016, an...

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