ECB President Lagarde to step down in February

Christine Lagarde announced her resignation as president of the European Central Bank, effective February 7, ending speculation about her future. The ECB confirmed her departure but did not disclose her future plans. This resignation opens opportunities for EU capitals to negotiate appointments to the ECB's Executive Board, with Isabel Schnabel also set to leave soon. French President Emmanuel Macron will have a role in selecting Lagarde's successor ahead of the upcoming presidential election, where Marine Le Pen is a prominent candidate.