Lagarde Reported to Leave ECB Before Term End, UK CPI Falls | The Opening Trade 2/18/2026

European Central Bank President Christine Lagarde is expected to step down from her role before her eight-year term ends in October 2027, the Financial Times reported. Lagarde wants to leave before the French presidential election in April next year, which would allow French President Emmanuel Macron and German Chancellor Friedrich Merz to find her replacement together, the report said, citing an unidentified person familiar with her thoughts on the matter. It isn’t clear yet when she may exit, the report said.

UK inflation dropped to its lowest level since March 2025, bolstering the case for an interest rate cut when the Bank of England meets next month. Consumer prices rose 3% in January from a year earlier, down from 3.4% the previous month when volatile components temporarily boosted inflation, the Office for National Statistics said Wednesday. It was in line with economists’ expectations, and slightly above the 2.9% forecast by the BOE.

Chapters:
00:00:00 – The Opening Trade – 2/18/2026
00:01:05 – UK Inflation Data
00:03:03 – FT: Lagarde To Leave ECB Early
00:05:21 – Anthropic New AI Model
00:07:42 – BAE Systems
00:08:45 – Glencore
00:10:47 – Daybook
00:11:56 – Need to Know: Japan-US Deal / Reform UK / Nuclear Talks
00:15:58 – UK Inflation Data Bolsters Case for BOE Rate Cut
00:25:17 – Lagarde To Leave ECB Before End of 8 Year Term: Financial Times
00:36:48 – MLIV
00:40:16 – Stocks To Watch
00:47:00 – The Market Open
00:49:36 – Glencore FY Revenue Beats Estimates
00:56:46 – Core 6
01:00:33 – Glencore Profit Slides Amid Coal Slump
01:05:25 – ECB: Lagarde Is Totally Focused on Her Mission
01:14:18 – Mistral AI CEO
01:19:53 – AI and the Gaming Industry
01:27:28 – Buffet Cuts Amazon Stake
01:30:05 – Barr: AI Boom Not Sensitive to Monetary Policy
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