08:10 AM EST, 02/24/2025 (MT Newswires) -- Ontarians are already casting their advance ballots and the rest will head to the provincial polls on Thursday, said Scotiabank.

An early election was called toward the end of January -- 15 months earlier than it needed to have been held. Progressive Conservative Party Leader and Premier Doug Ford was seeking to capitalize upon his lead in the polls and greater presence as a household name than the opposition leaders, noted the bank.

Attempts at translating polling numbers into seat projections show that Ford will either maintain or add to the number of seats his majority government holds, pointed out Scotiabank. Ontario elections have been known to have their "big surprises."

Ford would represent continuity to stable Ontario spreads and maintain his presence as a leading voice against United States trade tariffs, added the bank.

Next up on the list of global political risk and how it could cross into the realm of shifting policy priorities will be Canada's election. First will be the Liberal Party's decision on who to elect as their new leader by March 9.

While there are technically five candidates, the race is basically between Mark Carney (former Governor of the Bank of Canada and Bank of England and political newbie) and Chrystia Freeland (former finance minister). The candidates will face off in French and English language debates on Monday and Tuesday respectively.

Carney appears to be in the lead with the majority support of Liberal cabinet members among others, accoridng to Scotiabank.

Developments may move quickly after March 9 given considerable traction behind the possibility that Carney-if victorious -- may call a snap election shortly after the vote. If so, then an election as soon as April may be feasible and as such well ahead of when the prorogued parliament is slated to return on March 24.