European Central Bank President Christine Lagarde has announced she will resign on February 7, 2027, months before her scheduled term ends in October, according to a statement released by the ECB on Thursday.
Her early departure gives European Union leaders time to select a successor before France’s presidential election, where polls indicate far-right candidate Marine Le Pen could be a strong contender.
Lagarde’s resignation comes as the ECB confronts persistent inflation and rising borrowing costs.
Higher energy prices linked to the Iran war threaten to push inflation further upward, while rising government bond yields, particularly in France, are increasing financing costs for households and businesses.
The ECB is widely expected to hold its deposit rate at 2.5% on Thursday, while leaving open the possibility of another increase in December.
Related Tweet:
President Lagarde has 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. Her successor will be appointed by the European Council in due course. Press release https://t.co/krd51z9pZO
— European Central Bank (@ecb) October 29, 2026
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