Key facts
- Lagarde's early departure ahead of French elections has drawn criticism.
- She was the first ECB chief with no formal economics training or central banking experience.
- Lagarde's tenure saw the ECB roll out emergency bond-buying and the fastest series of interest-rate hikes.
- Her exit date is set for February 7.
Christine Lagarde's decision to step down early as European Central Bank president marks the end of an influential seven-year term. Arriving in 2019 without formal economics or central banking experience, she defied early skepticism to navigate the institution through unprecedented challenges, including a pandemic, energy shocks, and a historic inflation surge. Lagarde is credited with bringing inflation down faster than peers in Britain and the United States and building consensus among national central bank chiefs. Her early departure, however, has ignited political debate, with critics suggesting it is timed to influence the choice of her successor before potential French elections. Lagarde has stated her intention to advocate for pro-European values in France.