Lagarde to Leave European Central Bank Nine Months Early

Christine Lagarde will step down as president of the European Central Bank on 7 February 2027, the bank announced on 29 October 2026. Her departure comes nine months ahead of the end of her term, which had been scheduled to run until the end of October 2027.

In a press release, the ECB said Lagarde had informed its Governing Council, the bank's main decision-making body, and the president of the European Council of her decision. The ECB sets monetary policy for the euro, the shared currency of much of the European Union.

Lagarde joined the bank in late 2019. Her term was eight years long, according to the Associated Press. Yahoo Finance reported that she is the fourth person to lead the bank and the second from France.

Speculation about an early departure had built for months before the announcement, CNN reported. An exit in February gives EU leaders time to choose a successor well before France's presidential election, Reuters noted. Politico reported that the early exit also gives French President Emmanuel Macron a say in picking her replacement.

The timing means the choice of a new ECB president will be made by the leaders and institutions that the bank's governing arrangements involve, with the February date set as the point Lagarde's tenure ends.