ECB President Lagarde to step down in February

FRANKFURT — Christine Lagarde said she will step down as president of the European Central Bank on Feb. 7, ending months of speculation about her future and creating a vacancy at the top of one of Europe’s most powerful institutions. The ECB confirmed her departure in a statement but gave no immediate details about her plans after leaving. The announcement clears the way for a package deal among EU capitals over appointments to the ECB’s six-member Executive Board. Isabel Schnabel is due to leave in January to take a senior role at the International Monetary Fund, while chief economist Philip Lane’s term ends in May. It also gives French President Emmanuel Macron a say in choosing Lagarde’s successor before France’s presidential election next year.