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Central banks and marketsSat 31 Oct 2026 · 13 of 15

ECB President Lagarde to step down; T2 agreements and market abuse opinion approved

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The ECB says President Christine Lagarde will step down on 7 February 2027, having informed the Governing Council and European Council President on 29 October 2026 . The ECB says the Governing Council approved T2 Currency Participation Agreements for Sveriges Riksbank and Danmarks Nationalbank on 21 October 2026, after a positive assessment and subsequent signing . The ECB says the Governing Council adopted Opinion CON/2026/30 on 1 October 2026 to empower the competent authority under the market abuse regulation to impose bans on exercising management functions in credit institutions .

Why it matters. The opinion gives the competent authority the power to ban individuals from exercising management functions in credit institutions .

Earlier on Central banks and markets

Fri 30 Oct 2026Federal Reserve Board approves Bank of Nova Scotia applicationThe Federal Reserve Board announced approval of an application by The Bank of Nova Scotia. The announcement was issued by the Federal Reserve Board. The approval pertains to the Bank of Nova Scotia's submitted application.Thu 29 Oct 2026Fed FOMC keeps rates unchanged at 3‑3/4 to 4 percentThe Federal Open Market Committee approved the statement by a 10‑2 vote. The Committee decided to maintain the target range for the federal funds rate at 3‑3/4 to 4 percent. It also continued its policy of maintaining ample reserves in the banking system. The statement noted that economic activity is expanding at a strong pace, with resilient domestic spending, strong productivity growth, robust capital investment, job gains keeping pace with the workforce, and little change in the unemployment rate. Inflation remains elevated, and the Committee aims to return it to its 2 percent target.Wed 28 Oct 2026Bank of Japan releases core CPI estimates excluding institutional factorsThe Bank of Japan's Research and Statistics Department provides staff estimates for core CPI indicators that exclude institutional factors. These institutional factors include changes in the consumption tax rate, free education policies such as free school lunches starting in April 2026, the 2021 reduction in mobile phone charges, travel subsidy programs, and measures to reduce energy costs. The data are released at 2:00 p.m., two business days after the official CPI release. Core indicators comprise consumer price indices excluding institutional factors and distribution‑based measures such as the trimmed mean, weighted median, mode, and a diffusion index of increasing or decreasing items.
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