The Liberals have won enough seats in the 45th federal election to form a minority government.

As of 10:51 p.m EDT, the Liberals had won or were leading in 161 out of 343 ridings. Pierre Poilievre’s Conservatives are set to remain in opposition, with 137 ridings so far. Parties need 172 seats to form a majority.

Mark Carney led the Liberals to victory on Monday in an election dominated by issues like affordability, tariffs and annexation threats from U.S. President Donald Trump.

Poilievre is the fourth consecutive Conservative leader to lose to the Liberals, who have remained in power since 2015.

Canada’s former top banker, Carney replaced an increasingly unpopular Justin Trudeau as prime minister in March. Highlighting his experience steering major economies through economic crises.

Carney succeeded in convincing Canadians that he was the best person to tackle affordability issues and take on Trump’s tariffs and annexation threats.

Like Trudeau, Carney will have to navigate a divided country, which voted in favour of the Conservatives in many rural regions and across the Canadian Prairies. Jagmeet Singh’s NDP and the Bloc Quebecois are also expected to see losses.

Carney won his Nepean seat in Ottawa, which was previously held by Liberal Chandra Arya, who was dropped by the party this year reportedly over alleged ties to India. Carney’s riding sits right next to the Carleton riding in Ottawa, which was being defended by his chief rival, Poilievre.