ECB president Lagarde resigns at time of mounting challenges for Europe
The move comes as the ECB battles inflation risks across Europe from an Iran-driven oil shock while a sharp rise in bond yields, especially in France, threatens to dampen growth.
ECB president Lagarde resigns, citing political involvement, as Europe faces inflation and growth challenges.
Lagarde steps down on Feb 7, allowing time for a successor before the French election.
ECB faces inflation risks and rising bond yields, especially in France.
Potential successors include Klaas Knot and Pablo Hernandez de Cos, seen as competent.
Summarised automatically by AI from the original article by Free Malaysia Today. AI can make mistakes, so check the original for details.
Christine Lagarde will step down on Feb 7, giving current European Union leaders time to pick a successor well before the French presidential election. (AFP pic) FRANKFURT: European Central Bank President Christine Lagarde announced her resignation on Thursday, ending months of speculation about her future just as Europe enters a period of rising economic volatility and divisive electoral politics.
Lagarde will step down on Feb 7, giving current European Union leaders time to pick a successor well before a French presidential election that polls show far-right candidate Marine Le Pen is favoured to win.
The move comes as the ECB battles inflation risks from an Iran-driven oil shock while a sharp rise in bond yields, especially in France, threatens to dampen growth.
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