Bob Rae has announced that he will not seek the job of permanent leader of the Liberal Party of Canada.

Rae's surprise move ends months of speculation that the interim leader would go back on his promise not to run for the post.

“The way in which I can serve my party best is by not running for the leadership,” Rae told reporters today (June 13), according to the Globe and Mail.

Rae will stay on as interim leader as the party gears up for its leadership race.

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