Lagarde to Step Down Early From ECB Position, FT Reports

European Central Bank President Christine Lagarde is expected to step down from her role before her eight-year term ends in October 2027, according to a Financial Times report. Lagarde wants to leave before the French presidential election in April next year, which would allow French President Emmanuel Macron and German Chancellor Friedrich Merz to find her replacement together, the report said, citing an unidentified person familiar with her thoughts on the matter. It isn't clear yet when she may exit, the report said. Bloomberg's Jana Randow explains.