ECB President Christine Lagarde to Step Down Early in February 2027
publishers 45articles 52first reported 29 Oct, 10:05 UTCdeveloping since 29 Oct · 4 editions
European Central Bank President Christine Lagarde announced Thursday that she will step down on Feb. 7, 2027, nearly nine months before her term was due to expire at the end of October.
The ECB said Lagarde had informed its Governing Council and European Council President António Costa of her decision. Lagarde said she was leaving with “a sense of good work done” and an ECB “fit for the future.” According to France 24 and The Japan Times, she said an early departure would give her greater freedom to speak about issues beyond monetary policy.
Costa said the process of appointing a successor would begin immediately to ensure a timely transition. Former Dutch central bank governor Klaas Knot and Pablo Hernández de Cos, a former Bank of Spain governor who now leads the Bank for International Settlements, are widely viewed as leading candidates.
Lagarde has led the ECB since 2019, overseeing its response to the COVID-19 pandemic, the economic effects of Russia’s invasion of Ukraine and a surge in inflation driven partly by higher energy prices. Her departure will allow European Union leaders to choose a successor before France’s presidential election in April 2027.
The announcement came ahead of an ECB monetary policy decision as the central bank confronts renewed energy-related inflation pressures and rising government bond yields. Lagarde’s future had been the subject of months of speculation, including reports linking her to a possible role at the World Economic Forum.
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Written from 8 articles, 6 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; this version written 18 h after the record first saw the story; the editor kept it as written.
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- This version written
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