Carney is due to name a cabinet that will likely not be in office for long, since Liberal insiders say he will call a snap election in the coming days. If he changes his mind, opposition parties say they will unite to bring down the minority Liberal government in a confidence vote at the end of March.
Once the election is called, Carney will be very limited in what he can do politically because convention dictates he cannot make major decisions when running for office.
Opinion polls currently suggest it will be a close race with the official opposition Conservatives, with neither party gaining enough seats for a majority government.