ECB President Christine Lagarde to Step Down Early on February 7, 2027

European Central Bank President Christine Lagarde announced she will step down on February 7, 2027, concluding her tenure months ahead of her term's scheduled end in October 2027. Lagarde informed the ECB Governing Council and European Council President António Costa of her decision. Having assumed office on November 1, 2019, she guided the eurozone through the COVID-19 pandemic and oversaw 10 consecutive interest rate hikes to a peak 4.00% deposit rate. The ECB deposit rate currently stands at 2.50%, with reported potential successors including Klaas Knot and Pablo Hernández de Cos.