President, European Central Bank
Christine Lagarde has led the European Central Bank since November 2019. She is the leading voice on interest rates in the eurozone and therefore on the mortgage and savings rates facing European investors. Her term runs to October 2027, but since early 2026 there has been open speculation about an early departure linked to the French presidential election; the ECB has confirmed no decision.
For anyone investing in euros, Lagarde matters more than the US Fed chair. She helps set the yield on European government bonds, the funding costs of European companies and the euro's exchange rate against the dollar. Unlike the Fed, ECB decisions are usually taken by consensus, which means her press conference often reveals more than the rate decision itself.
Becomes a lawyer at international firm Baker McKenzie in Paris.
Becomes the first woman to chair that firm globally.
Becomes French finance minister, the first woman in that post in a G7 country.
Becomes managing director of the International Monetary Fund, in the middle of the euro crisis.
Succeeds Mario Draghi as president of the ECB.
Begins the fastest rate hiking cycle in the euro's history.
Reaffirms her commitment to the role while speculation about an early exit persists.
“We are not here to close spreads.”
Updated: 2026-07-23
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