ECB holds rates as Lagarde says she will step down nine months early
The European Central Bank kept its deposit rate at 2.5% on 29 October, the same day its president said she would leave on 7 February. A week later, euro zone inflation reached 4%.
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The European Central Bank (ECB) left interest rates unchanged on Thursday 29 October. On the same day, its president, Christine Lagarde, announced that she will leave office on 7 February 2027, about nine months before her eight-year term ends.
How this story was sourced.
10 sources from 7 organisations, 5 of them official or primary documents.
Official and primary documents 5
The body that made the decision, the paper, or the organisation’s own release.
- European Central Bank Monetary policy decisions (29 October 2026) ecb.europa.eu
- European Central Bank Monetary policy statement and Q&A (29 October 2026) ecb.europa.eu
- European Central Bank ECB President Lagarde to step down on 7 February 2027 ecb.europa.eu
- European Central Bank Key ECB interest rates ecb.europa.eu
- Eurostat Euro area annual inflation up to 4.0% ec.europa.eu
News organisations 5
Reports by other newsrooms. Where a story was carried by another outlet, both are named.
- Reuters via DD News ECB's Lagarde steps down, saying she can't remain neutral on world events ddnews.gov.in
- Al Jazeera European Central Bank President Lagarde to step down early aljazeera.com
- France 24 ECB President Christine Lagarde to step down in February 2027 france24.com
- Euronews ECB president Christine Lagarde to step down in February, months before her term ends euronews.com
- CNBC Euro zone inflation hits 4% for first time in three years as interest rate hike looms cnbc.com
The sources as the story lists them
Sources
- European Central Bank: Monetary policy decisions (29 October 2026)
- European Central Bank: Monetary policy statement and Q&A (29 October 2026)
- European Central Bank: ECB President Lagarde to step down on 7 February 2027
- European Central Bank: Key ECB interest rates
- Reuters (via DD News): ECB's Lagarde steps down, saying she can't remain neutral on world events
- Al Jazeera: European Central Bank President Lagarde to step down early
- France 24: ECB President Christine Lagarde to step down in February 2027
- Euronews: ECB president Christine Lagarde to step down in February, months before her term ends
- Eurostat: Euro area annual inflation up to 4.0%
- CNBC: Euro zone inflation hits 4% for first time in three years as interest rate hike looms
The story so far. More on Central banks, Euro zone and Inflation.
- Bank of Japan holds at 1.25% but says inflation has reached its 2% target One board member voted for a rise on 30 October, and most economists expect the Bank to raise rates in December.
- Bank of England raises interest rates to 4% as energy prices push inflation higher The Bank's first rate rise since 2023 was backed by all nine policymakers on 5 November, and one wanted a bigger increase. Staff expect inflation to reach about 5% by the middle of next year.
- Fed holds rates at 3.75%–4% as two policymakers vote for a rise Governor Lisa Cook and Cleveland Fed President Beth Hammack wanted a quarter-point increase on 28 October. Figures published the next day showed the economy grew at a 3.4% annual rate in the third quarter.
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Syced, CC0 Bank of Japan holds at 1.25% but says inflation has reached its 2% target
One board member voted for a rise on 30 October, and most economists expect the Bank to raise rates in December.
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Steve Daniels, CC BY-SA 2.0 Bank of England raises interest rates to 4% as energy prices push inflation higher
The Bank's first rate rise since 2023 was backed by all nine policymakers on 5 November, and one wanted a bigger increase. Staff expect inflation to reach about 5% by the middle of next year.
Federal Reserve, public domain Fed holds rates at 3.75%–4% as two policymakers vote for a rise
Governor Lisa Cook and Cleveland Fed President Beth Hammack wanted a quarter-point increase on 28 October. Figures published the next day showed the economy grew at a 3.4% annual rate in the third quarter.