Francois Villeroy, the Governor of the Banque de France, has announced his decision to step down from his position effective June 1st. Although his term doesn’t officially end until late 2027, he will be leaving his post to pursue other opportunities. The central bank confirmed the exit in a statement, according to Bloomberg.

In a surprising move, Emmanuel Moulin, the current secretary general of the presidency, is tipped to take over as the new Governor of the Banque de France. Moulin’s appointment is seen as a strategic move by the central bank to maintain continuity and stability in the wake of Villeroy’s departure.

Villeroy’s decision to step down comes as no surprise, given his long-standing commitment to public service. He has served as Governor of the Banque de France since 2015 and has been a key figure in shaping France’s economic policies during his tenure. His departure marks the end of an era at the central bank and paves the way for new leadership to take the helm.

The appointment of Moulin as Villeroy’s successor is seen as a natural choice, given his extensive experience in government and his knowledge of the French economy. As secretary general of the presidency, Moulin has played a key role in shaping France’s economic policies and has been a close collaborator of President Macron. His appointment is expected to be confirmed by the French government in the coming weeks.

The departure of Villeroy and the appointment of Moulin raise important questions about the future direction of the Banque de France and its role in shaping France’s economic policies. As the central bank navigates a rapidly changing global economic landscape, it will be crucial for new leadership to maintain stability and continuity while also adapting to new challenges and opportunities.