WorldPosted at: Oct 29 2026 4:31PM


ECB President Christine Lagarde to step down on February 7 next year

Brussels, Oct 29 (UNI) European Central Bank (ECB) President Christine Lagarde will step down on February 7, 2027, nearly nine months before the end of her term, bringing months of speculation about her future to an end.
“European Central Bank President Christine Lagarde today informed the Governing Council and the President of the European Council António Costa that she will step down from her position on 7 February 2027,” the ECB said in a statement.
Lagarde, who has led the ECB since July 2019, said she is proud to have served the institution and thanked those who have supported her during her tenure.
“It has been a source of great pride to serve this institution. I thank all of those who have supported me on this journey over the past seven years,” she said.
The ECB's Governing Council thanked Lagarde for her service and gave her a standing ovation.
European Council President António Costa acknowledged her decision and praised her leadership during a period marked by major economic and geopolitical challenges.
“Throughout her mandate, she has led the European Central Bank with a strong sense of duty and responsibility. Europe has been well served by her leadership in uncertain times and her unwavering commitment to the European project,” Costa said in a post on X.
He said Lagarde has helped safeguard the stability and resilience of the euro area through the COVID-19 pandemic, the war in Europe, energy crises and inflation shocks.
Costa said the process of appointing her successor would begin immediately and proceed without delay to ensure a smooth transition. The successor will be appointed by the European Council in accordance with Article 283(2) of the Treaty on the Functioning of the European Union.
Former central bank governors Klaas Knot of the Netherlands and Pablo Hernández de Cos of Spain are among those seen as potential successors.
Lagarde's term was originally scheduled to run until the end of October 2027.
Her departure comes at a critical juncture for the ECB as it grapples with renewed inflationary pressures from higher energy costs linked to the Iran conflict.
Lagarde took charge of the ECB in July 2019 after serving as managing director of the International Monetary Fund. A lawyer by training, she previously served in the French government and became the first woman to hold the finance minister's post in a G7 country in 2007.UNI AAB
Tags: #ECB President Christine Lagarde to step down on February 7 next year
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