European Central Bank President Lagarde to step down early

What happened: ECB President Christine Lagarde said she will leave the post on February 7, about nine months before her eight-year term ends, opening a race to succeed her. Key numbers: Departure date February 7; about nine months Why it matters: The timing lets EU leaders, including French President Emmanuel Macron, pick her successor before April's French presidential election. A German MEP warned a departure timed around national elections damages trust. Markets appeared unfazed, with Goldman Sachs' Simon Dangoor telling Reuters institutional behaviour is likely to outlast Lagarde. Coverage: 12 outlets in 24h

ECB President Christine Lagarde said she will leave the post on February 7, about nine months before her eight-year term ends, opening a race to succeed her.

The timing lets EU leaders, including French President Emmanuel Macron, pick her successor before April's French presidential election. A German MEP warned a departure timed around national elections damages trust. Markets appeared unfazed, with Goldman Sachs' Simon Dangoor telling Reuters institutional behaviour is likely to outlast Lagarde.