Market Overview

Christine Lagarde Nominated To Become Next ECB Chief

Christine Lagarde Nominated To Become Next ECB Chief

European leaders have nominated International Monetary Fund Managing Director Christine Lagarde to become the next president of the European Central Bank, according to The Wall Street Journal.

Member states decided to back Lagarde to succeed the current ECB chief Mario Draghi, whose eight-year term ends on Oct. 31, 2019.

Lagarde is the first female to head the Washington-based IMF since 2011.

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