Christine Lagarde to step down as ECB president nine months ahead of schedule
Christine Lagarde is to step down as European Central Bank president in February, nine months before her eight-year term expires in October 2027, after months of speculation about an early exit. Her departure opens the door to one of the biggest leadership reshuffles in the ECB’s 28-year history, just as the central bank faces a resurgence in inflationary pressures. Lagarde’s tenure has been shaped by the worst pandemic in a century, the bloodiest war in Europe since 1945, the biggest inflation shock in a generation and a trade war with the US. Earlier this year, Lagarde, 70, admitted that she had believed she would only serve in Frankfurt for five years rather than eight when she agreed with French President Emmanuel Macron to do the job. She is the second president in the 28-year history of the ECB to resign early. Its first head, Wim Duisenberg, left after five years…