Christine Lagarde to Step Down Early as European Central Bank President
Lagarde will leave on February 7, 2027, opening a succession process months before her term was due to end.
Christine Lagarde will step down as president of the European Central Bank on February 7, 2027, the bank announced Thursday, setting up an early change in leadership at one of the world's most important central banks.
The ECB said Lagarde informed its Governing Council and European Council President Antonio Costa of her decision. Council members thanked her and gave her a standing ovation.
Her departure will come months before her term was due to end in October 2027. Lagarde said she wanted greater freedom to speak and act on issues beyond monetary policy, rather than remain bound by the neutrality expected of the ECB president.
The European Council will appoint her successor through the process set out in the European Union's treaties. No replacement was named in the ECB's announcement.
The change comes as European policymakers face rising energy costs, persistent inflation pressures and uncertainty about economic growth. The ECB's Governing Council kept its key interest rates unchanged Thursday, a separate policy decision from Lagarde's departure announcement.
Readers can find the confirmed departure date and details about the succession process in the ECB's official announcement.