Interim Liberal Leader Bob Rae isn't ruling out the possibility of making a run at the party's permanent leadership.

Rae assumed control following a disastrous third place finish in last May's federal election.

At the time he agreed to a stipulation barring him from running for the permanent job, but on Sunday he hinted that he may have had a change of heart, saying that he'd wait until a committee struck to determine the rules and guidelines of the race makes its recommendations to the party's board of directors in June.

"I'll make up my mind when the party makes up their mind. The party is going to make up its mind sometime after June and I think after that things will become clear," he told CP24 prior to the start of a charity walk in downtown Toronto. "Its sort of like birthday wishes; you keep them to yourself"

The Liberals must hold their leadership convention sometime between March and June 2013, according to rules agreed to by the party's membership.