Former central bank Governor Mark Carney is Canada’s new Prime Minister, replacing the outgoing leader Justin Trudeau.
He won a competitive ballot for the leadership of the Liberal Party.
While Carney is not an elected politician, the party’s rules allow for non-sitting MPs to run for leadership roles.
The leadership ballot came after Trudeau stepped down amid “internal battles” in his party.
Mark Carney
Carney spent 13 years working at the investment bank Goldman Sachs.
He then went on to serve as the Governor of the Bank of Canada between 2008 and 2013, and also the Bank of England between 2013-2020.
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The 59-year-old was appointed a special economic adviser to Trudeau last year.
During the leadership race, Carney focused on his economic credentials to handle cost of living issues and global challenges.
Election
Canada needs to hold an election by October. Polling on the governing Liberal Party has consistently shown a downturn in public support.
However, the party has recovered in recent weeks as Canada pushes back against U.S. President Donald Trump’s tariffs.
In his victory speech at the Liberal Party convention, Carney said: “My government will keep the [counter-tarrifs] on until the Americans show us respect.”
