ECB President Lagarde resigns at time of mounting challenges for Europe

European Central Bank President Christine Lagarde speaks during a debate at European Parliament in Strasbourg, France, in February 2023. | AFP-JIJI

Reuters

Oct 29, 2026

FRANKFURT – European Central Bank President Christine Lagarde announced her resignation on Thursday, ending months of speculation about her future just as Europe enters a period of rising economic volatility and divisive electoral politics.

Lagarde will step down on Feb. 7, giving current European Union leaders time to pick a successor well before a French presidential election that polls show far-right candidate Marine Le Pen is favored to win.

The move comes as the ECB battles inflation risks from an Iran-driven oil shock while a sharp rise in bond yields, especially in France, threatens to dampen growth.

In a time of both misinformation and too much information,
quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW