Carney is “considering” entering the race to replace Trudeau from Canada

Former Bank of Canada and Bank of England governor Mark Carney says he is “considering” entering the race to replace Justin Trudeau as leader of Canada’s Liberal Party.

Trudeau said Monday he will step down after nine years as Canada’s prime minister — after mounting pressure from his own party and poor opinion polls.

Carney, 59, is one of several names in the frame to replace Trudeau, along with his former deputy Chrystia Freeland and Transportation Minister Anita Anand.

Trudeau says he will remain in office until a new leader is elected. Meanwhile, Canada’s parliament was adjourned – or suspended – until March 24.

The Liberals are likely to try to appoint a new leader by the end of the prorogation period – although the timetable and procedure remain unclear. Trudeau promised a “robust, national, competitive process.”

Mr. Carney, who runs an asset management firm and has served as an adviser to Mr. Trudeau, told Britain’s Financial Times newspaper: “I will be thinking about this decision closely with my family in the coming days.”

He has long been considered a contender for the top job, although he has never held public office despite his economic background.

During his career as a central banker – at the Bank of Canada from 2007-2013. and then at the Bank of England from 2013-2020. – Mr Carney was influential in the response of two major economies to the global financial crisis.

He also led efforts to support the UK economy through its exit from the European Union and the Covid-19 outbreak.

Whoever succeeds Trudeau in Canada could face an immediate test. The country’s next federal election is not due until October, but it is believed that the vote will be scheduled before then. The opposition Conservative Party, led by Pierre Poilievre, currently enjoys a double-digit lead in opinion polls.

Trudeau himself recently acknowledged that he had long tried to bring Mr. Carney into his team, most recently as finance minister. “He would be an outstanding addition at a time when Canadians need good people to step up in politics,” he said last year.

Mr Carney will also bring environmental expertise through his role as UN Special Envoy for Climate Action, recently calling the net zero goal “the greatest trade opportunity of our time”.

He has been a defender of some Liberal policies that have been unpopular in the country’s conservative circles, such as the federal carbon tax policy, the party’s signature climate policy, which critics say is a financial burden on Canadians.

He was also critical of Poilievre, saying the Conservative leader’s vision for the country’s future was “without a plan” and “only slogans”.

Other candidates seen as likely replacements for Trudeau include his former deputy Chrystia Freeland, who resigned from cabinet after a rift with the prime minister’s office in December, and Transportation Minister Anita Anand, a lawyer elected in 2019 Mr.