ECB president Christine Lagarde to step down early

29th Oct 2026 10:49

(Sharecast News) - The European Central Bank announced on Thursday that president Christine Lagarde plans to step down on 7 February 2027, before the end of her term.

Lagarde had been due to step down next October.

European Council president Antonio Costa said: "I would like to thank Madame Lagarde for her dedication as president of the ECB since November 2019. 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.

"Through a global pandemic, a war in Europe, energy crises and inflation shocks, she has provided a steady and determined stewardship, helping to safeguard stability and the resilience of the euro area."

Costa said the process for the appointment of her successor will be initiated immediately and "will proceed without delay".

The news came just hours before the latest policy announcement from the ECB, which is widely expected to leave rates unchanged at 2.50%.

Holger Schmieding, chief economist at Berenberg, said: "That she leaves early is no surprise and does not change the outlook for ECB policies and for the way the ECB deals with French risks, in our view. Only the timing of her announcement has come as a modest surprise."