ECB policymakers are growing impatient with President Lagarde's refusal to
clarify her future, saying months of speculation about a possible early
departure and her ambiguous responses have increased internal discontent and
raised image concerns. Some officials are unsettled by Lagarde's plan to publish
a memoir in January and her willingness to promote it while in office; others
say monetary policy work can continue unaffected. France's bond-market strains
may be a key factor preventing any departure before her term expires in October
next year. With market tensions persisting, the ECB is moving toward a third
rate hike; Lagarde and colleagues publicly focus on policy tightening and have
avoided discussing her tenure.
