European Central Bank President Lagarde resigns after months of speculation

Kirill Kudryavtsev/AFP/Getty Images/File

European Central Bank President Christine Lagarde announced her resignation on Thursday, ending months of speculation about her future at a complex juncture for Europe and the ECB.

Lagarde will step down on February 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 favorite to win.

“European Central Bank President Christine Lagarde today informed the Governing Council and the President of the European Council António Costa that she will step down from her position on 7 February 2027,” the ECB said in a press release.

The former central bank governors of the Netherlands and Spain, Klaas Knot and Pablo Hernandez de Cos, are seen as frontrunners to replace Lagarde.

Lagarde’s term was scheduled to run until the end of October 2027 but speculation about an early departure had been mounting for months, with the World Economic Forum seen as a likely destination.

The move comes as the ECB is in the middle of a rate-hiking cycle, seeking to prevent an oil-price shock linked to the Iran war from feeding into other prices and wages.

But it must also contend with a surge in government bond yields — especially in debt-laden France — that has pushed up borrowing costs for households and businesses and which Lagarde has said will curb growth and inflation.

Caught between persistent inflation fueled by a renewed surge in energy costs and deteriorating financing conditions, the ECB is widely expected to keep its deposit rate at 2.5% on Thursday while signaling that another increase, potentially as soon as December, remains likely.

The ECB is due to announce its interest rate decision at 1315 GMT on Thursday, followed by Lagarde’s regular press conference at 1345 GMT.

基里尔·库德里亚夫采夫/法新社/盖蒂图片社/文件

欧洲中央银行行长克里斯蒂娜·拉加德周四宣布辞职，结束了数月来关于她未来的猜测。此时，欧洲和欧洲央行正处于一个复杂的时刻。

拉加德将于2月7日卸任，这给了现任欧盟领导人足够的时间在法国总统大选前选出继任者。民调显示，极右翼候选人玛丽娜·勒庞最有可能赢得此次选举。

欧洲央行在一份新闻稿中表示：“欧洲央行行长克里斯蒂娜·拉加德今天通知管理委员会和欧洲理事会主席安东尼奥·科斯塔，她将于2027年2月7日卸任。”

荷兰前央行行长克拉斯·诺特和西班牙前央行行长巴勃罗·埃尔南德斯·德·科斯被视为接替拉加德的热门人选。

拉加德的任期原定于 2027 年 10 月底结束，但几个月来，关于她提前离任的猜测越来越多，世界经济论坛被认为是可能的去处。

欧洲央行此举正值加息周期之中，旨在防止与伊朗战争相关的油价冲击波及其他物价和工资。

但它也必须应对政府债券收益率飙升的问题——尤其是在负债累累的法国——这推高了家庭和企业的借贷成本，拉加德表示，这将抑制经济增长和通货膨胀。

由于能源成本再次飙升引发持续通胀，加上融资环境恶化，欧洲央行周四预计将维持存款利率在 2.5% 不变，同时暗示可能在 12 月再次加息。

欧洲央行将于格林尼治时间周四 13:15 宣布利率决定，随后拉加德将于格林尼治时间 13:45 举行例行新闻发布会。