Christine Lagarde to Step Down as ECB President on February 7, 2027

European Central Bank (ECB) President Christine Lagarde announced that she will step down from her position before completing her term, on February 7, 2027. The decision was communicated on Thursday to European Council President Antonio Costa and the Bank's Governing Council.

European Central Bank (ECB) President Christine Lagarde officially announced that she will step down before completing her term. According to Reuters, Lagarde informed European Council President Antonio Costa and the Bank's Governing Council of her decision on Thursday. The announcement shared the information that Lagarde will leave office on February 7, 2027. While claims that she might leave before her term ended had been on the agenda for a long time, it was suggested that the World Economic Forum (WEF) could be her potential new destination.

The resignation announcement coincided with the ECB's interest rate decision and press conference. The bank was expected to announce its interest rate decision at 16:15 TSI, and Lagarde was expected to answer journalists' questions at a press conference she would hold at 16:45. Meanwhile, in the Eurozone, while the impact of the war in the Middle East on energy prices increases inflationary pressure, the ECB is trying to prevent energy costs from reflecting on other prices and wages. On the one hand, the bank keeps interest rate hikes on the agenda to combat inflation, while on the other hand, it faces the risk of high interest rates slowing down economic growth.