Perspectives

The Bank of Canada has decided to hold its key policy rate steady at 2.75%, for the third consecutive time, amid ongoing trade uncertainty.   Scotiabank’s Chief Economist Jean-François Perrault returns to break down the central bank’s decision to hold once again, how Canada’s economy has been stronger than anticipated, possible economic scenarios ahead, and much more.  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures  Key moments this episode:   1:10 - JF’s main takeaway from the decision  1:35 - Did we learn anything from the Bank of Canada’s commentary or outlook?  2:31 - Was a hold the right call in JF’s view?  3:16 - JF walks us through the Bank of Canada’s three possible economic scenarios ahead  5:18 - What scenario does JF think is most likely?  5:55 - How unusual is it for the Bank of Canada to not have an economic forecast?  7:14 - What is the current state of Canada’s economy?  9:30 - A breakdown of Canada’s “unbelievable” employment numbers  10:34 - Which sectors are feeling the impact of trade uncertainty the most?  12:17 - Scotiabank Economics’ outlook for rate decisions for the rest of 2025  15:07 - What’s happening in Canada’s housing market?  16:54 - JF’s main takeaways for Canadians from the Bank of Canada’s decision and outlook? 

Newcomers to Canada are still critical to fuel our country's economic growth, despite recent cuts to immigration targets. In this episode, we’re joined by Kingsley Chak, the Senior Vice President of Deposits and Investments at Scotiabank, and Anthony Bambokian, Senior Economic Analyst with Scotiabank. They’ll discuss Canada’s changing immigration targets and the potential economic impacts that may have, the hurdles new Canadians face, some of the services Scotiabank offers newcomers, and much more.  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:  2:14 - Anthony catches us up on Canada’s immigration numbers from pre-COVID to present  7:13 – Why, despite changing targets, Canada will always be a nation of immigrants  8:48 – What balance Canada needs to strike when it comes to new arrival targets  10:24 – What are the main challenges newcomers face when they first arrive in Canada?  11:30 – Some data around how long it takes newcomers to find their economic footing after arriving in Canada  13:25 – Two more key hurdles many newcomers face in Canada  14:42 – What challenges newcomers face when it comes to banking and finances  19:02 – The numbers behind newcomers and entrepreneurship  21:12 – How Kingsley's personal immigration story also relates to banking  22:18 – Final takeaways from the conversation

Yannick Lallement, Chief AI Officer at Scotiabank and a true pioneer in AI, shares insights on the latest advancements transforming the banking sector. He reflects on his journey in AI since the 90s and reveals his surprised reactions to recent breakthroughs. The discussion highlights agentic AI's potential to autonomously handle complex tasks, improving customer interactions. Yannick also explains how Scotiabank is leveraging AI for personalized services while ensuring client safety amid privacy concerns. The future of AI in banking looks promising!

The Bank of Canada announced that it has held its policy interest rate steady at 2.75% for the second consecutive time as tariff uncertainty continues to loom, the Canadian economy shows signs of weakness and inflation persists.   Scotiabank’s Chief Economist Jean-François Perrault is back on the show to break down the central bank’s latest decision, what’s happening with inflation and in Canada’s housing market, why he doesn’t expect any interest rate cuts this year, and much more.    For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:   1:00 — What is JF's main takeaway from the Bank of Canada's latest decision?  1:43 — JF breaks down Canada's latest GDP numbers and how that factored into the central bank's decision to hold  4:03 — A closer look at inflation in Canada and how key measures are rising  6:35 —JF's outlook for the economy in the coming months  10:00 — Why JF isn't expecting the Bank of Canada to announce a cut this year  14:06 — What's happening in the Canadian housing market? If interest rates stay put for awhile, what kind of ripple effect could that have?  16:29 — The main takeaway from the Bank of Canada's decision and outlook for Canadians 

Raeann Rideout, Director of Strategic Partnerships for Elder Abuse Prevention Ontario, discusses the growing concern of elder financial abuse, dubbed 'the crime of the 21st century.' She shares sobering statistics, emphasizing that one in six seniors has been affected. The conversation highlights common perpetrators and crucial warning signs. Raeann also breaks down the role of Power of Attorney, guiding seniors on how to protect themselves while managing their finances. Practical advice for victims and proactive measures from financial institutions round out this vital discussion.

With life expectancy on the rise, people may actually spend more time in retirement than they do working. With that in mind, this episode is the second of a two-part series we’re calling Investing Through the Ages. In it, we’ll work our way through different age groups and break down how they should be thinking about saving and investing at each stage along the way. In this instalment, we’re looking at age 50 and beyond, also known as the decumulation stage. Erin Griffiths, the Executive Vice President of Scotiabank Global Wealth Solutions, is our guest to give tips on how to age gracefully from a financial perspective in the face of recent volatility, how to best shift from saving to generating income from your assets, address some common misconceptions about this phase and much more.    For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:  1:46 – Erin introduces us to what experts call the “decumulation stage”  4:25 – How should people think about investing differently at this stage?  6:09 – How longevity has complicated retirement planning in recent years  9:35 – Addressing common misconceptions about managing money at age 50+  10:55 – How should people who are facing retirement or recently retired be navigating market volatility?   13:40 – What exactly does a financial plan look like at age 50+?  15:50 – Breaking down the two key elements around planning for retirement: financial and personal  19:13 – What challenges do women in particular at this age face when it comes to wealth management?  20:15 – What about intergenerational wealth transfer — how does that factor into financial planning?  22:09 – What Erin wants people to take away from this conversation 

The Professional Women’s Hockey League (PWHL) recently announced they'll be adding two new teams next season and league-wide attendance has now surpassed the 1 million mark. What’s been the key to this still-young league’s huge success? Jayna Hefford, the Executive Vice President of Hockey Operations for the PWHL and a four-time Olympic gold medalist with Team Canada, tells us how the business strategy behind the league helped propel it beyond a successful launch and into part of what’s becoming a cultural movement.     For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:  2:02 – Jayna's overall assessment of the PWHL’s second season so far  3:36 – What surprised Jayna about the make-up of the fans  4:23 – The strategy to sustain fan excitement for the second season  5:20 – How a mandate from leadership helped enable some of the league's innovations  7:53 – Why has this iteration of professional woman’s hockey gained traction?  10:16 – How does the PWHL attract talent?  11:25 – How viewership has changed since the league started and how that's helped growth  12:43 – The role the PWHL plays in wider societal change  15:08 – A look ahead to next season  16:32 – What the success of the PWHL means personally to Jayna 

As talk of U.S. tariffs continues to dominate headlines, one potential homegrown way to mitigate the effects keeps cropping up: interprovincial trade. But just how much impact would removing or reducing the existing barriers to trade between provinces actually have? John McNally, Economist and Senior Policy Advisor at Scotiabank, is our guest to tell us what the main roadblocks to interprovincial trade are, what the newly-elected Liberal government plans to do about the issue and give us a reality check on just how much of an impact reducing these barriers might have on the Canadian economy.   For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:  1:29 – How realistic are the estimates of the potential impact of reducing interprovincial trade barriers on GDP ?  2:01 – How much trade currently happens within Canada? And how important is it to the economy?  3:30 – How much of Canada's international trade is with the U.S.? 4:36 – Which sectors do interprovincial trade barriers impact the most?   10:04 – Some examples of the current barriers to trading between provinces  12:31 – How labour mobility is affected by interprovincial barriers  14:56 – How difficult is it to actually reduce these barriers?   17:12 – What about the EU? Is there anything we can learn from their model?  18:47 – What difference has the Canadian Free Trade Agreement made and is that something that can be built on?  20:40 – What has Mark Carney promised on the campaign trail around interprovincial trade?  24:34 – What’s a realistic boost to GDP that we might expect to see if we reduce trade barriers between provinces? And what’s stopping us from getting there?  28:10 – John gives a sense of the scale of trade between provinces vs. trade with the U.S.  30:42 – Why lowering interprovincial trade barriers isn't a silver bullet

No matter what stage you're at in life, saving and investing can seem daunting. That’s why this episode, we're bringing you the first of a two-part series we’re calling Investing Through the Ages. In it, we’ll work our way through different age groups and break down how they should be thinking about saving and investing at each stage along the way. In this installment, we’re focusing on what experts call the accumulation stage – roughly age 25 to 50. These are most people’s core working years where they accumulate the majority of their wealth. Devon Lacombe, Vice President of Retail Investments at Scotiabank, is our guest and has some practical tips on how to balance short-term and long-term savings goals during this pivotal phase.  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures  Key moments this episode: 2:05 – Devon explains what the accumulation phase is 3:44 – The start of the accumulation stage: how should people be investing and saving in their 20s and 30s 4:36 – A key tool to ensure people are hitting their saving and investment goals during this period 5:48 – The first type of account people should be thinking of during this phase 8:11 – What about people who are carrying student debt? How should they approach saving? 9:43 – The benefits of starting to save and invest early 10:53 – At what point should someone talk to an advisor when it comes to saving and investing? 11:55 – A mistake Devon made early in her accumulation stage and the lesson she learned from it 13:04 – The next potential milestone during the accumulation stage: home ownership. How does that factor into investing and saving goals? 14:06 – A primer on the First Home Savings Account (FHSA) 15:55 – How much of your income should go towards home expenses? 17:11 – What about buying a house as an investment? 18:32 – Another milestone during this phase: having children. Devon explains how an RESP works 19:27 – How to prioritize saving and investing when financial responsibilities are piling up during this phase 22:31 – How to approach investing during the next major life milestone: middle age (and a good benchmark for what you should have saved for retirement at this point) 24:50 – How should wealth transfer from parents impact financial planning? 26:02 – Planning for the next phase (and our next installment of this series): the decumulation stage 

The Bank of Canada announced that it held its policy interest rate steady at 2.75% — a pause after seven consecutive cuts — as uncertainty about tariffs and the economy continues to cloud the global outlook. Experts were split on whether the central bank would deliver a cut or a hold.  Scotiabank’s Chief Economist Jean-François Perrault returns to break down the announcement, provide some context around why the Bank of Canada went this direction, what it might say about the state of the economy, take stock of where we are with the ever-evolving global tariffs and much more.  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures  Key moments this episode:  1:11- JF’s main takeaway from the Bank of Canada’s latest decision 1:54 - Was a hold the right call? 2:45 - What did we learn from the latest inflation data for March about the impact on the economy? 3:49 - The Bank of Canada laid out two illustrative scenarios for the economy, as it is difficult to create a forecast with so much uncertainty. JF explains why this is so rare, and walks us through the central bank’s two scenarios 5:52 - What does JF forecast as the most likely scenario? 7:17 - What is the probability of a severe recession in Canada? 8:56 - An overview of the current state of tariffs in Canada and internationally 12:00 - Are higher costs for businesses and suppliers starting to pass through to consumers? 13:08 - What are the impacts on Canada’s jobs market? 14:23 - What has the ripple effect been on the country’s housing market? 16:07 - JF’s cautious outlook for upcoming Bank of Canada’s decisions 18:22 - Main takeaways for Canadians