The former Bank of England Governor Mark Carney has announced he is running to replace Justin Trudeau as leader of the Canadian Liberal Party.

Carney officially launched his bid to lead in his hometown of Edmonton, Alberta, earlier today.

If he is successful, the 59-year-old will succeed Prime Minister Trudeau and will lead Canada into the next general election, which will take place later this year.

Trudeau announced he would resign after nine years in office once a new Liberal leader is selected, following a rebellion by his own cabinet.

Bank of England's former governor Mark Carney is running to be the new chief of Canada

Carney said in his launch announcement: "I'm doing this because Canada is the best country in the world, but it could still be even better."

"People are anxious, no wonder...too many people are falling behind...I've helped managed multiple crises and I've helped save two economies..

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

Carney's father, Bob Carney, ran for the Liberals federally in 1980 in the riding of Edmonton-South, coming in second to Douglas Roche, a Progressive Conservative.

Former Bank of England Governor Mark Carney

In 2023, Carney blamed stubbornly high inflation in Britain on Brexit, claiming he had warned the public that leaving the European Union would damage the economy.