European Central Bank (ECB) head Christine Lagarde to step down in February, before her term ends

Christine Lagarde, President of the European Central Bank, will resign on February 7, 2027, nine months before her term ends. European Council President Antonio Costa announced that the search for her successor has begun. Lagarde's departure comes amid concerns over France's public finances and speculation about the timing related to upcoming elections. Costa praised her leadership during challenging times, including the pandemic and inflation crises. The ECB is expected to maintain its deposit rate at 2.5% in an upcoming meeting, while also addressing the fiscal situation in France, where bond yields have surged.