Mark Carney ‘considering’ run to replace Justin Trudeau as Canada PM
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Supporters of former Bank of England and Bank of Canada governor say he has experience to lead in period of instability. The former Bank of England governor Mark Carney, a climate-focused economist who became the first non-Briton to run the Bank, is considering entering the race to replace Justin Trudeau as Canada’s prime minister.
Trudeau announced on Monday he would step down after nearly 10 years in power once his ruling Liberal party chose a new leader, throwing open the doors to a fierce party race before a general election later this year. Carney, 59, in a statement quoted by Bloomberg, where he is a chair of the board of directors, said he would be “considering this decision closely with my family over the coming days”. A longtime and prominent member of the Liberal party, Carney said he was “encouraged” by the support of Liberal lawmakers and people “who want us to move forward with positive change and a winning economic plan”.
Speculation that Carney, who ran the Bank of Canada from 2008 to 2013 and the Bank of England from 2013 to 2020, might be seeking high office has grown over the past few months as Trudeau’s popularity plummeted amid record inflation, an acute housing crisis, high food prices and voter fatigue.
Trudeau’s decision to resign came amid fears that tariffs imposed by Donald Trump, the incoming US president, could devastate Canada’s economy. Carney’s supporters see him as having the experience to guide the country through a period of instability. The former banker has a diverse, internationalist résumé, including as chair of Brookfield Asset Management, a large Canadian alternative asset manager, and as UN special envoy for climate action and finance.
