Mark Carney runs for leader of Canada's Liberal Party

After months of speculation about his political ambitions, former Bank of Canada and Bank of England governor Mark Carney has announced he is seeking the leadership of Canada's governing Liberal Party.

Mr Carney formally launched his bid in his hometown of Edmonton, Alberta, on Thursday. Liberals will be electing their new leader on 9 March.

If he wins, the 59-year-old will succeed Prime Minister Justin Trudeau and lead the country into the next general election, which will take place this year.

Earlier this month, Trudeau announced his intent to resign after nine years in office once a new Liberal leader is selected, following mounting pressure on him to step aside.

"I'm doing this because Canada is the best country in the world, but it could still be even better," Mr Carney said as he launched his bid.

He outlined challenges facing the country, like a housing affordability crisis, stagnant wages and the threat of climate change.

"People are anxious, no wonder," he said. "Too many people are falling behind."

He also noted the tariff threat from US President-elect Donald Trump, who takes office on Monday, saying that Canada is facing extraordinary times.

"I've helped managed multiple crises and I've helped save two economies," Mr Carney said in his pitch.

"I know how business works, and I know how to make it work for you."

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