At the ECB, Christine Lagarde announces departure, saying she wants 'freedom to engage on matters that are not monetary policy matters'

The European Central Bank decided to maintain interest rates at 2.50% amid rising inflation, while President Christine Lagarde announced her resignation effective February 7, 2027. The decision to keep rates unchanged was anticipated by markets, but it reignited discussions about Lagarde's successor. Despite inflation reaching 3.8% in September, the Governing Council cited stable inflation excluding energy and concerns about economic uncertainty as reasons for their decision. Lagarde noted that the decision was unanimous but sparked internal debate. Future rate adjustments will be evaluated on a meeting-by-meeting basis, with the next meeting scheduled for December 17.