[ECB: President Christine Lagarde to Step Down on February 7, 2027] According to Jinshi News, the European Central Bank (ECB) issued a statement on Thursday stating that ECB President Christine Lagarde informed the ECB Governing Council and European Council President Antonio Costa that she will step down on February 7, 2027. Lagarde's successor will be appointed by the European Council in accordance with the nomination process stipulated in Article 283 of the Treaty on the Functioning of the European Union. Lagarde is the fourth president of the ECB and the second from France. Her original term was scheduled to end in October 2027. Lagarde's departure will be one of the most closely watched leadership contests in Europe. Her successor will be responsible for setting interest rate policies for the 21 Eurozone member states, affecting more than 350 million people. Pablo Hernández de Cos of Spain and Klaas Noether of the Netherlands are vying for the position.