ECB President Lagarde to step down in February

European Central Bank President Christine Lagarde will step down from the helm of the central bank on February 7, according to a statement from the ECB on Thursday.

Lagarde informed the ECB’s Governing Council and the President of the European Council António Costa on Thursday, shortly before the announcement of a fresh interest rate decision later in the day.

Speculation around Lagarde’s future has been growing, with media reports suggesting that the long-time central banker could be appointed as the next chair of the World Economic Forum.

Lagarde’s term at the ECB is due to end in October 2027. Her departure may trigger a wider reshuffling of the leadership of the ECB, according to Reuters.

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