AssetID: 56114015
Headline: UNCAPTIONED: ECB President Christine Lagarde To Step Down Nine Months Early
Caption: ECB President Christine Lagarde To Step Down Nine Months Early. European Central Bank President Christine Lagarde will step down on 7 February 2027, around nine months before her eight-year term was due to end. Lagarde informed the ECB's Governing Council and European Council President António Costa of her decision, with the bank giving no reason for her early departure. The ECB's Governing Council thanked Lagarde for her leadership and gave her a long standing ovation following the announcement. Costa praised Lagarde's service since November 2019 and said the process of appointing her successor would begin immediately. The next ECB president will be appointed by EU leaders following a recommendation from finance ministers and consultations with the European Parliament and ECB. Lagarde previously served as French finance minister and managing director of the International Monetary Fund before becoming ECB president. Her announcement came as the ECB prepared to unveil its latest monetary policy decision, with its deposit rate currently at 2.5%. Lagarde’s early departure follows months of speculation that she could leave the ECB before completing her term. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Christine Lagarde,ECB,European Central Bank,António Costa,eurozone,interest rates,European Council,IMF,European economy,monetary policy,EU,central banking,euro
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