European Central Bank President Christine Lagarde will step down on 7 February next year, nearly nine months before her term ends in October 2027. She said it had been a source of great pride to serve the institution and thanked supporters over the past seven years. Lagarde has led the ECB since July 2019, steering policy through the Covid-19 pandemic, the Russia-Ukraine war and energy price shocks that pushed inflation in the 21-nation euro area above 11%. European Council President Antonio Costa praised her steady stewardship, and the process of appointing a successor begins immediately. The announcement came before the ECB's policy decision, where rates were expected to be held despite euro-zone inflation hitting a three-year high in September.
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EUR/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/28/2026 | 1.11540 |
| Change that session | +0.24% |
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