Mark Carney Leads Liberal Party to Win in Canada, Declares Bold Vision Against Trump

April 30, 2025 | 06:17 pm

TEMPO.CO, Jakarta - The Liberal Party under the leadership of Mark Carney continues its dominance in Canada after winning the election held on Monday, April 28, 2025. With this election result, the Liberal Party secured its fourth consecutive victory.

Carney replaced Justin Trudeau as the Prime Minister, who was ousted on Monday, March 10, 2025. Carney's campaign conveyed an anti-Trump message.

Mark Carney promised in his victory speech that he would confront Trump. He would explain to Trump that Canada has many options to make the country prosperous. 

"And if the United States no longer wants to be in the forefront of the global economy, Canada will," Carney said. "We are masters in our own home. We will build millions of housing units. We will become an energy superpower. We will provide good careers in skilled trades and one economy, not 13. Because this is Canada, and we decide what happens here," he said, as quoted by Al Jazeera.

Carney explained that he would build housing and make the country an energy superpower. "We will protect our workers and businesses, and above all, we will build an independent future for our great country, a future that makes the greatest country on earth even better."

Who is Mark Carney?

Mark Carney was born in Fort Smith, Northwest Territories, Canada, on March 16, 1965. He is an economist who served as the Governor of the Bank of Canada (BOC) from 2008 to 2013, according to Britannica.

Carney previously worked at Goldman Sachs, where he eventually became managing director of investment banking. During his time at the firm, he played a key role in helping post-apartheid South Africa access international bond markets and provided advisory support to Russia during the 1998 financial crisis.

In 2003, Carney was named Deputy Governor of the BOC, after being seconded to Canada three years earlier. A year later, he was seconded to the Department of Finance, where he developed and implemented a policy to tax income trusts at the source.

He returned to the Bank of Canada in November 2007 and officially became Governor in February 2008. In response to the 2008 global financial crisis, Carney acted decisively by lowering the interest rate by 0.5 percentage points, ahead of similar measures taken by most other countries.

In April 2009, he committed to maintaining low interest rates for at least another year in order to support credit markets and preserve business confidence. Carney also held international roles, including serving as chair of the Financial Stability Board at the Bank for International Settlements and leading the Financial Stability Board based in Switzerland.

In November 2012, UK Chancellor of the Exchequer George Osborne announced that Carney would take over from Mervyn King as the Governor of the Bank of England (BoE), making him the first non-Briton to hold the position.

Carney introduced the forward guidance strategy that he had used in Canada. He communicated the BoE’s intentions by stating that, barring any major surprises, the central bank’s low interest rate policy would remain in place. At that time, the UK’s unemployment rate dropped from around 8 percent to below 7 percent.

When the jobless rate fell below 7 percent sooner than expected, fears of an interest rate hike emerged. Carney addressed these concerns by assuring that any increase would be limited.

He continued to lead the Bank of England during the economic uncertainty that followed the UK’s decision to leave the European Union in 2016.

Dewi Rina Cahyani also contributed to the writing of this article.

Editor’s Choice: Canada's Mark Carney Wins in Election Overshadowed by Trump's Threats

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