Lagarde Is ECB Boss But Schnabel and Lane Are Key for Economists

July 16,2024

When economists scrutinize the European Central Bank’s most senior leaders for pointers on interest rates, Christine Lagarde isn’t who they turn to first.

Only 40% of respondents in a Bloomberg survey said the ECB president was among the top two Executive Board members they follow to inform their opinions. From that six-strong panel, most prefer to listen to Isabel Schnabel, a German official in charge of markets, and then Chief Economist Philip Lane.