After months of speculation about his future, former Bank of Canada governor Mark Carney launched his campaign to replace Justin Trudeau as Liberal leader on Thursday with a promise to build the fastest-growing economy in the G7 if he's elected.

Former Bank of Canada governor Mark Carney announced on Thursday that he was running to replace Prime Minister Justin Trudeau as leader of the ruling Liberal Party, saying he wanted to focus on the struggling economy.

Mark Carney, the former governor of Canada's central bank, on Thursday launched his bid to succeed Justin Trudeau as Liberal Party leader and prime minister, immediately becoming a frontrunner in the race.