ECB President Christine Lagarde promised not to step down until at least 2027. This is her clearest signal to stay so far, indicating that governments may soon need to find a successor. The Frenchman insisted that he did not want to be “limited” to some kind of arrangement, but promised to host interest rates at least three more times. This makes the ECB, one of the most important policy positions in the global economic system, likely to enter the succession phase in less than five months. “You won't see me leave until 2027,” Lagarde told reporters on Thursday. She later added that she would not step down in an unfavorable environment. “The captain will stay on board when the clouds are heavy.” These statements are the clearest guidance Lagarde has given so far on her possible departure, and they also leave room for her to complete her term in October next year as originally planned. If Lagarde chooses to leave office in 2027, French President Emmanuel Macron will be able to participate in the selection of a successor, rather than leaving this matter to his successor after the spring elections.

ECB President Christine Lagarde promised not to step down until at least 2027. This is her clearest signal to stay so far, indicating that governments may soon need to find a successor. The Frenchman insisted that he did not want to be “limited” to some kind of arrangement, but promised to host interest rates at least three more times. This makes the ECB, one of the most important policy positions in the global economic system, likely to enter the succession phase in less than five months. “You won't see me leave until 2027,” Lagarde told reporters on Thursday. She later added that she would not step down in an unfavorable environment. “The captain will stay on board when the clouds are heavy.” These statements are the clearest guidance Lagarde has given so far on her possible departure, and they also leave room for her to complete her term in October next year as originally planned. If Lagarde chooses to leave office in 2027, French President Emmanuel Macron will be able to participate in the selection of a successor, rather than leaving this matter to his successor after the spring elections.