France, Oct. 30 -- "It has been a great pride and a huge privilege to serve this institution," Lagarde posted on social media platform X, announcing that she would resign nine months before her term officially ends in October 2027.

"I think that I leave this institution with a sense of good work done and a [European Central Bank] that is fit for the future," she said.

The announcement follows speculation that Lagarde would leave early to enable European Union leaders to choose a successor while pro-EU French President Emmanuel Macron is still in office.

Lagarde's resignation paves the way for leaders to replace her before France's presidential elections in the spring, with officials fearing that far-right candidate Marine Le Pen could ...