INTEL: ECB President Lagarde will step down on February 7

European Central Bank President Christine Lagarde plans to step down on February 7, she told ECB staff, according to market news reports. One of the reports described the move as an early departure.

The reports give the date and say she told staff directly. They do not say why she is leaving, who might succeed her, or how the handover would work. No ECB statement was included in the material available at the time of writing.

The ECB had also announced a live broadcast in which Lagarde was due to explain the central bank’s latest monetary policy decisions. The reports do not say whether she addressed her departure in that session.

The ECB sets monetary policy for the euro area, so a change at the top of the institution matters for rate expectations and for the choice of its next leadership. At this stage, the only confirmed detail is the planned February 7 exit as relayed to staff.