ECB PRESIDENT LAGARDE RESIGNS

FRANKFURT, OCTOBER 29 /SRNA - RIA Novosti/ - European Central Bank /ECB/ President Christine Lagarde announced her resignation and will leave her post on February 7, 2027, the ECB said.

"European Central Bank President Christine Lagarde today informed the Governing Council and the President of the European Council Antonio Costa that she will step down from her position on February 7, 2027," the statement says.

Lagarde's term is set to expire next October. However, there is speculation that she is leaving the ECB early to join the World Economic Forum /WEF/.

The possibility of Lagarde stepping down early from her role as ECB President has been discussed since May of last year, when former WEF Chairman Klaus Schwab revealed that he and Lagarde had spoken about her potential move to the WEF.

Sources familiar with the situation told the British daily Financial Times that the WEF is expected to reach a decision regarding a permanent chair by November, and that Lagarde is one of the leading candidates.