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BackPresident of the European Central Bank Christine Lagarde to stand down in February
President of the European Central Bank Christine Lagarde to stand down in February
BREAKING
CNBC2 hours agoBusiness1 min read

President of the European Central Bank Christine Lagarde to stand down in February

Lagarde, who has led the euro area's central bank since July 2019, will end her term ahead of its scheduled October 2027 completion.

christine lagardeecbeuropean central bank

Quick Look

  • European Central Bank President Christine Lagarde announced she will step down on Feb.
  • 7 next year, ahead of her term's scheduled October 2027 end.
  • The appointment process for her successor will begin immediately.

AI-generated summary

Why It Matters

Lagarde has led the ECB since July 2019, navigating the euro area through a pandemic, war, and inflation shocks.

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European Central Bank said on Thursday that President Christine Lagarde will step down from her role on Feb. 7 next year.

Lagarde was given a standing ovation by the Governing Council of the euro area's central bank, which she has led since July 2019. Her term was due to end in October 2027.

The announcement came ahead of the ECB's latest interest rate decision, due later on Thursday.

European Council President Antonio Costa thanked Lagarde for her "dedication."

"Through a global pandemic, a war in Europe, energy crises and inflation shocks, she has provided a steady and determined stewardship, helping to safeguard stability and the resilience of the euro area," Costa said in a statement.

The process of appointing her successor will begin immediately, he added.

Lagarde, born in Paris in 1956, first worked as a high-ranking lawyer before joining the French government. In 2007, she became the first female Finance Minister of a G7 country. She was appointed managing director of the International Monetary Fund in 2011 before joining the ECB.

Lagarde is viewed as a top candidate to become the next chair of the World Economic Forum, according to Financial Times reporting. In recent media interviews, she has suggested she does not plan a run at the French presidency in the 2027 election.

What to Watch

AI outlook — possibilities, not facts

  • The process of appointing Lagarde's successor will begin immediately.

    Very likely · Within days

Open Questions

  • Who will succeed Christine Lagarde as ECB President?
  • What are Lagarde's exact future plans regarding the World Economic Forum?

Related Topics

christine lagarde
PeopleChristine LagardeAntonio Costa
OrganizationsEuropean Central BankGoverning CouncilEuropean CouncilG7
PlacesParis
Topicsecbeuropean central bankantonio costainterest rate decision
This article was originally published by CNBC.

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