ECB President Christine Lagarde to step down on 7 February 2027

Eseries Now News: Business

Business 29 Oct 2026 (announced Thursday morning, Europe)

The European Central Bank said Christine Lagarde has told its Governing Council and European Council President António Costa that she will leave on 7 February 2027, about nine months before her term ends. No reason was given. EU leaders will now start the formal process to choose a successor. The bank's regular rate decision is also due today; we will cover it in tomorrow's edition once the official statement is out.

Why it matters: The euro and European bond markets are sensitive to who leads the ECB. A planned, early handover gives markets time to adjust.

Sources (read the original)

Verified against 2 sources. Sources checked 29 Oct 2026, around 5 PM Dubai time (UTC+4). Summary written in our own words; all rights in the original reporting belong to the publisher.

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Part of the Eseries Now News daily edition for Thursday 29 October 2026. More: Business news. Made with AI, directed by humans: editors choose the stories, check every fact against the source and write the summary. Spotted an error? Use our contact page and we will correct it. This is general news, not financial, legal or investment advice.