ECB DENIES LAGARDE HAS MADE DECISION TO LEAVE – The Financial Times reported she’s expected to leave her position before her 8-year term expires
European Central Bank President Christine Lagarde is focused on her job and has not made any decision regarding the end of her term, an ECB spokesperson said today after a news report claimed she plans to leave before her term ends in October 2027.
The Financial Times reported that Lagarde is expected to leave her position before her eight-year term expires, allowing outgoing French President Emmanuel Macron to plan the succession for one of the EU’s most important institutions, ahead of France’s presidential elections in April next year.
The ECB’s response is a departure from earlier guidance on Lagarde. Last year, when the FT suggested Lagarde may leave early, the ECB said Lagarde was “determined to complete her term.”
Initial market reaction to Lagarde’s possible departure was muted. Bond yields and the euro barely changed in early trading, indicating investors do not expect a personnel change to herald any major policy shift.
