Lagarde reaffirms leaving the ECB in 2027 but declined to give an exact date

The Zhitong Finance App learned that Christine Lagarde reiterated that she will step down as ECB president in 2027, but declined to say whether she will remain in office until the end of her term in October next year.

“I'm leaving in 2027.” Lagarde said on Friday. When asked if that meant October of that year, she said, “I'll see when the time comes.”

“What I can say now is that no matter when, this matter will be handled in the most professional manner, as it should be.” Lagarde said.

In July, she told reporters, “You won't see me leave until 2027.” Last week, she also said, “You'll be the first to know when something about me personally needs to be reported,” adding “There's nothing to report at the moment.”

Lagarde recently revealed that her memoir will be published in January, which has boosted market expectations that she will leave the ECB early. The report said that the World Economic Forum, famous for its annual meeting in Davos, is still strongly inviting her to take over, and she seems ready to accept this role.

If Lagarde leaves office, he will open one of the most powerful positions in the global central banking industry. Former central bank governors of the Netherlands and Spain are all contesting for this position.

On Friday in Dublin, Spanish Economy Minister Carlos Culpo said that now is the time to start discussing the ECB after Lagarde.

“It is up to her to decide whether to complete her term, and we will support her no matter what she chooses.” He said, “In any case, these discussions need to be started, or they must be started,” because “it's not just the job of governor, there are more vacancies; we need to start these discussions.”

Lagarde said it is essential to find the right mix for the ECB's key decision-making bodies. The terms of chief economist Philip Lane and executive board member Isabelle Schnabel will also end next year.

“What matters is the skill set at the Executive Committee and Management Committee tables, and having diversity of views is actually beneficial.” She said, “The opinions are diverse, because you are both male and female; the diversity of opinions, because you have economists with experience in central banks and people with different backgrounds, I think this is very beneficial.”