ECB President Christine Lagarde will step down on February 7, 2027 European Central Bank President Christine Lagarde informed the Governing Council and European Council President Antonio Costa today that she will step down on February 7, 2027 - about nine months before the end of her eight-year term on October 31, 2027. In a statement and a short video, Lagarde said it had been "a source of great pride" to serve the institution and that she was leaving with "a sense of a job well done and an ECB fit for the future". The Governing Council thanked her and gave her a standing ovation. The early departure, which follows months of speculation, allows EU leaders to name a successor before French presidential elections. The frontrunners include former Dutch central bank governor Claas Knott and Pablo Hernandez de Cuz (former central bank governor of Spain, now at the BIS). The process has already begun. The announcement comes on the day of the ECB's interest rate decision, as the bank steers toward sub-inflation from the oil price shock and rising bond yields, especially in France.

ECB President Christine Lagarde will step down on February 7, 2027 European Central Bank President Christine Lagarde informed the Governing Council and European Council President Antonio Costa today that she will step down on February 7, 2027 - about nine months before the end of her eight-year term on October 31, 2027. In a statement and a short video, Lagarde said it had been "a source of great pride" to serve the institution and that she was leaving with "a sense of a job well done and an ECB fit for the future". The Governing Council thanked her and gave her a standing ovation. The early departure, which follows months of speculation, allows EU leaders to name a successor before French presidential elections. The frontrunners include former Dutch central bank governor Claas Knott and Pablo Hernandez de Cuz (former central bank governor of Spain, now at the BIS). The process has already begun. The announcement comes on the day of the ECB's interest rate decision, as the bank steers toward sub-inflation from the oil price shock and rising bond yields, especially in France.