FRANKFURT, Germany, Oct. 29, 2026 —
European Central Bank President Christine Lagarde will step down on Feb. 7, 2027, the bank said Thursday in a press release.
The ECB says Lagarde informed the bank's Governing Council and the President of the European Council, António Costa, of her decision on Thursday. The bank announced it on X at 6:00 a.m. Eastern time.
"I have just informed my colleagues that I will step down as @ECB President on 7 February 2027," Lagarde wrote on X minutes later. "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."
What happens next
- Her successor. The ECB says the next president will be appointed by the European Council following the nomination process in Article 283 of the Treaty on the Functioning of the European Union (ECB). The Council of the EU describes that process on its appointments page.
- The Governing Council's reaction. The ECB says the Governing Council "thanked President Lagarde warmly and gave her a long standing ovation."
- Today's rate decision. The ECB said on X that Lagarde will explain the bank's latest monetary policy decisions at a live press conference later Thursday (ECB on X).
The ECB sets interest rates for the countries that use the euro (ECB monetary policy). The announcement did not give a reason for her decision.
Launchpad Digital has asked the European Central Bank for comment and will update this story when they respond.
Those are the facts, directly from the source.
Sources: European Central Bank press release and X posts (Oct. 29, 2026); Christine Lagarde's X post (Oct. 29, 2026).
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