Perspectives

The Bank of Canada has lowered its key policy interest rate for a second consecutive time by 25 basis points to 2.25% amid ongoing weakness in the economy and as inflation pressures ease.   Governor Tiff Macklem said the current policy rate is “at about the right level” to keep inflation in check near 2% while helping the economy through this period of “structural adjustment.”  Scotiabank’s Chief Economist Jean-François Perrault returns to the podcast to break down this decision and what it says about the economy, as well as provide a preview of the upcoming federal budget and explain how it factors into the rate announcement, and much more.  To learn more about the upcoming federal budget and what to look for, read Scotiabank Economics’ report: The Cost of Ambition: Anticipating Canada’s Federal Investment and Austerity Budget.    For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures  Key moments this episode:  00:52 - JF’s main takeaway from the Bank of Canada’s decision to cut its key policy rate for a second time  02:32 - What drove the central bank’s decision to cut?  04:01 - The upcoming federal budget and how it factors into the Bank of Canada’s rate decisions  5:51 - What to expect and look for in the upcoming federal budget announcement in November  7:06 - What does this cut and the overall outlook mean for Canadians?   9:00 - What does this cut, and the central bank’s message that it will be the last cut for a while, mean for those wanting to buy a home? What does this mean for the Canadian housing market?  10:30 - Governor Tiff Macklem said that the weakness in the Canadian economy is “more than a cyclical downturn. It is also a structural transition.” JF breaks down what this means. 14:05 - JF on where the economy goes from here  16:03 JF on the main takeaways from the Bank of Canada’s decision for Canadians 

Amber Kanwar, a seasoned business journalist and host of the podcast In the Money with Amber Kanwar, discusses the unique financial challenges women face. She highlights how motherhood influences money management and the generational shifts in women's investment approaches. Amber shares insights on the risk dynamics for female investors, advocating for better engagement from financial firms. She also reflects on her transition from TV to podcasting, emphasizing the importance of flexibility and creating relatable content.

Sustainability has long been part of agriculture, by necessity and design, but what does it mean for today's modern growers? For Dr. Sally Flis, the Director of Sustainable Ag Programs at Nutrien Ag Solutions, sustainable practices can help producers be more resilient in the face of global economic uncertainty. Sally is our guest along with Janice Holzscherer, the Managing Director and Head of Agricultural Banking at Scotiabank. They’ll explore what sustainability means when it comes to agriculture, how it plays an important role in the story that modern farmers and growers tell the public and more.    For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:  1:13 – Sally tells us about Nutrien Ag Solutions  3:06 – Some context around Scotiabank’s partnership with Nutrien  5:22 – What Sally mean by “cutting through the noise of sustainability” in agriculture  9:46 – How has the notion of sustainability evolved over the last few decades?  12:19 – What about the consumer side? Is there added pressure on growers and producers to adopt more sustainable practices?   14:13 – What is the story growers want to tell the public when it comes to sustainability?   16:37 – Final thoughts on the state of sustainability and where it’s heading in agriculture 

From the impact of the pandemic to AI, security to quantum computing, this episode two industry veterans will walk us through the state of technology in banking. Inci Akpinar, Senior Vice President & Chief Information Officer for Canadian Banking Engineering at Scotiabank, and Sebastian Blandizzi, the Senior Vice President & Chief Information Officer for Data & Global Wealth Technology at Scotiabank, explore how far the field has come, where it might be going and what challenges and opportunities lie ahead.  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:  2:17 – Inci and Sebastian look back on technology in banking when they started their careers vs where it is now  7:27 – What pressures does a bank face when it comes to the evolution of technology?  10:50 – What are the next big challenges and opportunities on the horizon?  12:53 – What keeps Sebastian up at night and why that’s recently changed  16:47 – How AI has changed how Inci and Sebastian look at their work and what clients expect  22:50 – What is banking technology going to look like in the next ten years?

Just over a decade ago, the Truth and Reconciliation Commission (TRC) released its Final Report into Canada’s Residential School System, including its 94 Calls to Action and 10 Principles of Reconciliation. This episode we’ll hear about the legacy of the TRC 10 years later with one of the three commissioners, Marie Wilson. She’ll tell Myan Marcen-Gaudaur, Scotiabank’s Director of Indigenous Relations and Reconciliation, about her time as a commissioner, the state of reconciliation over the past 10 years, the progress on the 94 Calls to Action and more.  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:  3:05 – Marie describes the work she did with the TRC and explains why 10 years later many might be unaware  10:09 – The importance of starting with the ‘why’ when it comes to reconciliation  13:57 – What did Marie see as the potential for her work 10 years ago?  18:17 – How much progress has Marie seen in the last 10 years?  27:48 – Where the title of Marie’s book, North of Nowhere: Song of a Truth and Reconciliation Commissioner came from  29:55 – Where the inspiration for writing a book came from  32:27 – What role Marie sees her book playing in Canada’s collective commitment to reconciliation   38:47 – What advice Marie would give to Scotiabank as they continue on the path of reconciliation 

In this episode, we have two experts to break down the latest scams and tell us how to avoid falling victim. From bank impersonation scams to AI and even old-fashioned door-to-door grifts, Detective Constable Valerie Dahan from Toronto Police Service and Aaron McAllister, Vice President of Fraud Threat Management at Scotiabank, run down the red flags and what to do if you suspect you, a loved one or a neighbour might be a victim. For more fraud prevention resources, check out Scotiabank’s Cybersecurity and Fraud Hub.  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:  2:02 – Val tells us about her role at Toronto Police Services and an overview of the scams landscape right now  3:23 – Aaron gives us his overall take on the current state of scams  4:11 – Broader context about scams and how they are often perpetrated by overseas victims of human trafficking   8:07 – A deeper dive into specific scams starting with impersonation scams, specifically bank impersonation scams  13:24 – Val breaks down romance scams and the psychology behind them that makes them so potent  20:07 – What are home improvement scams and what should people look out for?  22:26 – Are seniors targeted more often with scams?  23:13 – Some final tips on how people can protect themselves 

Some welcome relief has come for consumers and businesses as the Bank of Canada has decided to lower its key policy rate by 25 basis points to 2.5%, marking the first cut since March.   Scotiabank’s Chief Economist Jean-François Perrault is back to explain what drove the central bank’s decision, what it says about the state of the economy, why we “aren’t out of the woods” yet on inflation, the odds of another cut this year, and much more.  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:  00:53 - JF’s main takeaway from the Bank of Canada’s decision to cut its key policy rate  1:53 - What does this say about the state of the economy?  2:28 - How much of an impact does a cut of 25 basis points have on the economy? (And why another cut is likely)  5:08 - With counter-tariffs on the U.S. largely eliminated, what is driving inflation in Canada now? What is keeping inflation higher than hoped?  7:39 - What does JF see for the economy ahead, given all the uncertainties?  9:14 - With a federal budget to be announced in November, what could this influx of government spending mean for the economy and inflation?  12:33 - How will this 25 basis point cut impact households, individuals, and businesses? And why mortgage borrowers are most likely to feel the impact  14:14 - Will lowering interest rates and making it easier for consumers to buy a house drive up prices and inflation?  15:16 - Why JF expects the Bank of Canada to cut again before the end of the year – but then possibly start to reverse them next year  16:26 - JF’s main takeaways for Canadians from the central bank’s announcement 

Farah Omran, a Senior Economist at Scotiabank, dives into the crucial economic indicators that matter for Canadians today. She highlights the significance of understanding inflation, GDP growth, and unemployment rates to decode the economy. The discussion unveils how the Bank of Canada's policy rate influences consumer behavior and housing prices. Additionally, Farah emphasizes the role of productivity as a key driver of economic growth and living standards, urging listeners to grasp these metrics for a clearer financial outlook.

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