Macron reshuffles team, opening path for new French central bank chief

08:00

French President Emmanuel Macron has initiated a key reshuffle within his inner circle, a move that could influence the future leadership of the country’s central bank. The decision to replace his chief of staff is widely seen as paving the way for a senior official to take over the Bank of France in the coming months.

According to sources familiar with the matter, Emmanuel Moulin, who has served as Macron’s chief of staff over the past year, is considered a strong candidate to lead the central bank. His experience in public finance, including a previous role at the French Treasury, positions him as a credible choice for the role.

The current governor of the Bank of France, Francois Villeroy de Galhau, is expected to step down in June, ahead of the scheduled end of his term. This early departure offers the president an opportunity to appoint a successor before the 2027 presidential election, a vote that could significantly reshape France’s political landscape.

As part of the reshuffle, Moulin will leave his position in early May. He will be replaced by Pierre-André Imbert, marking a transition within the presidential administration at a critical time for economic policy.

This development comes as France, like many European economies, faces ongoing economic challenges, including inflationary pressures and global uncertainty. Leadership at the central bank will play a crucial role in shaping monetary policy and maintaining financial stability in the years ahead.

While no official confirmation has yet been made regarding the appointment, the changes signal a strategic repositioning by Macron as he prepares for the next phase of his presidency and the broader political cycle.