Christine Lagarde to leave ECB presidency nine months early

Christine Lagarde will step down as president of the European Central Bank on 7 February 2027, nine months before her term was due to end. The ECB said she informed its Governing Council and European Council President António Costa on Thursday. Her resignation does not take immediate effect, and no successor has yet been appointed.

The European Council will choose the next president after consultation with the European Parliament and the ECB Governing Council under Article 283 of the EU treaty. Financial Times reporting identified former Dutch central-bank chief Klaas Knot and former Bank of Spain governor Pablo Hernández de Cos among possible candidates, but those names are political positioning rather than a completed shortlist.

The timing matters because the ECB kept rates at 2.5% on Thursday while warning that energy costs could lift inflation and weaken growth. Reuters reported that markets expected policy continuity despite the leadership change. Lagarde said she wanted greater freedom to comment on developments in France and has denied intending to run in its presidential election. Her next role remains unconfirmed; speculation should not be presented as an appointment.