European Central Bank (ECB) President Christine Lagarde has announced that she will step down in February 2027.
Lagarde announced her resignation via a video shared on X on Thursday, October 29, 2026.
She captioned the video: “I have just informed my colleagues that I will step down as ECB President on 7 February 2027.
“It has been a source of great pride to serve this institution.
“I thank all of those who have supported me on this journey over the past seven years.”
Lagarde’s resignation comes months before her term expires in October 2027.
“European Central Bank President Christine Lagarde today informed the Governing Council and the president of the European Council Antonio Costa that she will step down from her position on 7 February 2027,” the ECB said in a statement on Thursday.
Lagarde’s departure before the end of her term opens the way for European leaders to choose a new ECB president before French presidential elections scheduled for April, in a race where eurosceptic far-right and far-left candidates are leading in opinion polls.
Lagarde has ruled out standing for the presidency, telling French newspaper La Croix in September 2026 that it would “not be a good idea”.
Months of speculation have preceded her departure, and Lagarde has been tipped to take the helm of the World Economic Forum, which organises the annual summit of politicians and business leaders in Davos, Switzerland.
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Lagarde took the helm at the ECB in November 2019, having previously led the International Monetary Fund (IMF) and served as French finance minister.
Her tenure took in the Covid-19 pandemic and an inflationary wave that followed Russia’s invasion of Ukraine in 2022, which prompted a spike in energy prices.
The head of the European Council, Antonio Costa, lauded Lagarde’s “leadership” and said the process to name a successor would begin immediately.
Costa said on social media: “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.
“To ensure a smooth transition to the next leadership of the ECB, the process for the appointment of her successor will be initiated today and will proceed without delay, with a view to a timely decision.”
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