The European Parliament voted to approve Christine Lagarde's candidacy as president of the European Central Bank, which is headed by Mario Draghi.
Lagarde, who previously led the International Monetary Fund, secured 394 votes in favor, while 206 lawmakers voted against her nomination, with 49 abstentions, the European Parliament announced.
Subject to the European Council's approval due next month, she would take the helm at the ECB on Nov. 1, amid global trade volatility and Brexit uncertainty.
The ECB recently cut its rate on the deposit facility, while keeping other rates unchanged, and announced that it will restart bond purchases, at a monthly pace of €20 billion. Lagarde has signaled support for a loose monetary policy.
