29 October 2026 President of the European Central Bank Christine Lagarde officially announced that she will leave her post 7 February 2027 — almost nine months before the end of her eight-year mandate (31 October 2027).
The announcement came in a video address on the X platform and after a meeting of the ECB Governing Council at which it was decided to leave key interest rates unchanged. Lagarde informed her colleagues on the Governing Council and European Council President António Costa.
Why she is leaving early
Lagarde herself explained the decision by her desire to gain "freedom of speech and freedom of expression" on issues unrelated to monetary policy. According to her, she can no longer comfortably maintain the neutrality required of a central bank head:
"I am interested in the truth, and I see that the truth is very often distorted and refuted by false perceptions."
Sources close to the situation add: Lagarde wants to be able to speak openly on political and global issues, especially in France. The post of ECB President requires political neutrality, and she is no longer prepared to observe it in the current environment.
The early departure also gives current EU leaders (including Emmanuel Macron) time to choose a successor before the French presidential election in spring 2027, in which, according to polls, Eurosceptic candidates are leading.
What next
- Lagarde will hold two more Governing Council meetings — on 17 December 2026 and 4 February 2027.
- The process of appointing a successor has already been launched. Among the most frequently mentioned candidates are former head of the Dutch central bank Klaas Knot and former Governor of the Bank of Spain Pablo Hernández de Cos.
- At the same time, the ECB is awaiting other personnel changes: Isabel Schnabel is leaving at the beginning of 2027, and Chief Economist Philip Lane in May.
Lagarde has headed the ECB since November 2019. During this time, the bank went through the pandemic, energy shocks and the strongest surge in inflation in the history of the eurozone. Now the eurozone is facing new risks — rising energy prices and tension in the French government bond market.
Official statements by the ECB and by Lagarde herself confirm the date of 7 February 2027. Earlier references to The New York Times and CNBC, which would not open, dated from the period of speculation. The information is now fully confirmed by primary sources — the European Central Bank itself and the world's leading agencies.
