Christine Lagarde is to face calls for an overhaul of how the European Central Bank decides monetary policy as senior colleagues use the start of her presidency to argue for changes including formal votes on setting interest rates.

Ms Lagarde replaced Mario Draghi as ECB president at the start of the month and has invited the governing council, its top policymaking body, to present ideas on how to improve the central bank’s internal discussions. The issue is part of the agenda for her first council meeting on Wednesday.

Officials at four of the national central banks represented on the governing council told the FT they would make proposals ranging from holding regular votes on monetary policy to requesting that the president does not pre-announce policy plans.