Christine Lagarde to step down as ECB president in February, succession race begins
Former Dutch and Spanish central bank chiefs Klaas Knot and Pablo Hernández de Cos emerge as frontrunners to lead the European Central Bank
European Central Bank President Christine Lagarde has formally announced she will step down on 7 February 2027, nearly nine months before her eight-year term expires, triggering an immediate succession process and giving EU leaders time to choose a successor well before next spring's French presidential election.