ECB's Schnabel to resign early 2027, join IMF as Monetary and Capital Markets Director

ECB Executive Board member Isabel Schnabel will resign in early 2027 to become IMF Financial Advisor and Director of the Monetary and Capital Markets Department. The move removes a prominent hawk from the ECB's policy-making core, potentially shifting the balance toward a more dovish stance, while also fueling speculation about the ECB presidency succession. The timing and implications for ECB policy direction remain uncertain.