Perspectives

A few episodes back, we talked about how to broach the subject of finances with your parents. Dr. Amy D’Aprix, a consultant for The Scotiabank Women Initiative, author, and speaker, is back again, this time to help us talk about money with our kids or young family members, because they start learning about money sooner than you think. And with International Women’s Day right around the corner, she also tells us why these conversations are especially important to have with our daughters or young women in our lives. The Scotiabank Women Initiative aims to help women break down barriers – including how to manage their financial futures. For more information please visit www.scotiabankwomeninitiative.com.  Key moments this episode:  1:55 — “What are you doing leaving the fridge door open?!” How money was typically talked about in households 2:48 — How that conversation has changed over the years 3:35 — A telling stat about how talking about money early can help in adulthood 4:35 — When should you start talking to kids about money? It might be younger than you think. 5:29 — Some tips and examples on making the conversation fun for kids 6:36 — Why “more is caught than taught” when it comes to money 7:36 — What is the ultimate goal of these conversations? 7:46 — Some interesting facts on why this topic is especially important for daughters 9:22 — Confidence vs. competence when it comes to money 10:01 — How the messages to girls and women today are still different   10:55 — How to best empower young women when it comes to money 12:24 — Does it matter who the lessons come from? 13:02 — “I don’t feel confident around money, how can I teach my kids?”  14:14 — A recap of the key takeaways Here are some other resources around kids and money from Scotiabank’s Advice+ page: How to teach your kids about budgeting and saving  How to teach your kids about financial safety  Talk to your kids about money, credit and interest  5 financial tools to teach kids about money   

Illegal wildlife trade is estimated to generate more than US$20 billion every year. That adds up to a lot of illicit financial transactions. That’s why a new initiative called Project Anton brings together not only law enforcement, NGOs and governments but also banks to help clamp down on illegal wildlife trade. Stuart Davis is Executive Vice President of Financial Crimes Risk Management & Group Chief Anti-Money Laundering Officer at Scotiabank. He’s our guest this episode and tells us about this new project, what exactly wildlife crime looks like and the role a bank plays in preventing it. Read more about illegal wildlife trade and Scotiabank’s partnership with United for Wildlife.  Key moments this episode: 0:02 — The story of wildlife ranger and conservationist Anton Mzimba 1:26 — What exactly is illegal wildlife trade? 2:07 — How big the problem really is 2:51 — Why are animals illegally trafficked?  3:33 — What is a zoonotic disease?  3:56 — Where does this trade take place? What about in Canada? 4:56 — The surprising ways these animals can be smuggled 5:37 — How did the Bank become involved in preventing these crimes? 6:23 — How the Bank helps crack down on illegal wildlife trade 9:19 — What is the United for Wildlife’s financial task force? 10:33 — What exactly does Project Anton do? 12:51 — More about the late Anton Mzimba 

Stories or analysis about the economy can sometimes seem like a word soup of jargon. That’s why this episode we’re taking 11 common (and some not-so-common) economic terms and defining them in plain English. From quantitative tightening to stagflation to GDP, Scotiabank Economist Laura Gu returns to help bolster our vocabulary. Looking for another vocabulary expanding economic primer? Check out our Inflation 101 episode.  Key moments this episode: 1:36 — Term 1: GDP 3:00 — Term 2 and 3: Monetary policy vs fiscal policy 4:33 — Term 4: Output gap 6:33 — Term 5: Quantitative tightening 9:21 — Term 6: Stagflation 12:05 — The lighting round and term 7: Core inflation 12:19 — Term 8: Terminal rate 12:32 — A curveball! 12:40 — Term 9: Basis point 12:56 — Term 10: Hyperinflation 13:30 — Term 11: NAIRU 13:57 — We reveal Laura’s extremely valuable and high-tech prize 

Talking to your parents about their money isn’t easy. But many adult children find themselves suddenly in over their heads as the de facto family finance expert after an emergency. Having a conversation about finances before it’s a crisis can save a lot of trouble. And with a whole generation of parents entering old age and life expectancies on the rise, it’s a situation that’s becoming increasingly common. This episode, Amy D’Aprix, also known as Dr. Amy, is our guest. She’s an author, speaker and consultant for the Scotiabank Women Initiative. She’ll give us practical tips on how to have that dreaded money conversation with our parents regardless of your age. For further info about power of attorney, wills and more, check out our Estate planning 101 episode.  Key moments this episode: 1:30 — Why is this an issue now? 2:29 — What problems are you trying to avoid by having these conversations? 5:27 — This can be an awkward conversation. How do you start it?  6:37 — The two major fears aging parents have around bringing up finances 8:32 — A checklist of what to talk about 11:02 — Why this conversation can be especially awkward 12:06 — What are the day-to-day things to think about when helping with parent’s money? 13:19 — If you’re not a financial expert, how can you help? 14:12 — What about siblings?  15:26 — What is a ‘club sandwich’?  16:24 — How you have these conversations can matter just as much as what you say 17:57 — What if you’re the aging parent? Visit Scotiabank’s Advice+ site for more tips:Estate planning guide for seniorsWhy you need to make a willHow you can support your loved ones with a trustShould you agree to be someone’s executorGifting to grandchildren6 strategies to help protect seniors against financial fraud

This episode is the first in our occasional series where leaders at Scotiabank interview experts on an issue that resonates with them. In this instalment, you'll hear a conversation about allyship hosted by Scotiabank’s Meigan Terry with academic, author and allyship expert Kenji Yoshino. They talk about the business case for allyship, give some concrete tips to be a better ally in the workplace and much more.  Key moments this episode: 1:51 — The business case for allyship 4:01 — How allyship ties into large scale culture change 6:24 — ‘Cancel culture’ vs ‘coaching culture’ 11:20 — A useful tool for allyship in the workplace: the empathy triangle 19:38 — How to best respond to feedback when you are the one not being a good ally 20:32 — Kenji’s biggest ‘aha’ moment when it comes to being the ‘perfect’ ally 22:52 — How to have conversations about allyship with someone who is skeptical in your organization 23:42 — What is the 20/60/20 rule? 26:55 — Why all of us will be the beneficiary of allyship someday 

The Bank of Canada this week raised their policy interest rate a quarter of a percentage point to 4.5%. It’s the smallest increase since the central bank began raising the benchmark rate last March. Tiff Macklem, the Governor of the Bank of Canada, says it marks the start of a “conditional pause” on interest rate hikes. Scotiabank’s Chief Economist, Jean-François Perrault returns to the podcast to explain what this means, what it signals for the months ahead and when we might see interest rates start to come down. Key moments this episode: 00:58 — Why the Bank of Canada raised rates again after hinting at a pause in December 2:10 — Why the central bank’s pause on increases is the right move 3:32 — Inflation impacts on consumers 6:06 — Will the central bank hit its inflation target this year? 7:39 — Where will inflation be more persistent? Food? 8:49 — The economy is “stalled.” Does that mean recession? 10:50 — What everybody is wondering about: when will interest rates start to come down? 

After a wild ride in 2022, what’s in store for markets in 2023? Hugo Ste-Marie is the Director of Portfolio and Quantitative Strategy in Equity Research at Scotiabank. In other words, his job is to give investment advice to large, institutional investors and he’ll tell us what trends, potential pitfalls and opportunities he sees for the new year.  Key moments this episode: 00:59 — Recap of what 2022 looked like from an investor perspective 2:24 — A big picture look at 2023, what should investors expect? 3:33 — What are the main forces driving the market in 2023?  5:00 — When might the US Federal Reserve stop hiking interest rates? 6:34 — What about the Bank of Canada? 7:27 — What advice Hugo gives to his clients heading into 2023 8:23 — What options are best for institutional investors given how 2023 may shape up 12:47 — What about global stocks?

Personal finance expert Bruce Sellery wants Canadians to talk more about money in 2023. So, we’re kicking off the new year by doing just that. And lucky for us, that is a topic that is never dull when Bruce is doing the talking. He’s our guest this episode and has three tips for people as they look to manage their personal finances heading into 2023. A year where inflation and talk of recession are making managing household spending something that’s on everyone's resolution list. For more financial advice visit Scotiabank’s Advice+ Centre. Key moments this episode: 2:19 — Bruce’s “dorky but admirable” new year’s tradition 2:52 — Why Bruce has seen an uptick in people who need credit counselling in 2022 4:36 — The two reasons that made 2022 particularly challenging when it comes to personal finance 6:51 — Bruce’s tip #1 9:44 — How do you figure out what things you can cut out of your budget? It comes down to values 12:29 — Bruce’s tip #2 15:20 — Bruce’s tip #3 18:43 — The most important thing about this conversation: why? 20:40 — Stop the music! Bruce has one more thing! 

Artificial intelligence or AI is the science of programming computers that can reason or think like humans. But in order to really understand AI, first we need to think about cats. At least according to Scotiabank’s resident AI expert, Yannick Lallement. He’s here this episode to outline what exactly AI is and how it can change how we think about work and do our jobs.Key moments this episode: 00:16 — How cats are key to understanding AI 2:39 — A quick definition of AI 3:05 — Two examples of where you may already be using AI in everyday life without knowing it 4:48 — What is ‘augmented intelligence’ and how could it help us do our jobs more easily? 6:00 — How do banks use AI? 8:59 — What is ‘ethical AI’? 10:59 — Three ways AI could change how we approach work 

Are interest rate hikes finally coming to an end? The Bank of Canada’s latest interest rate hike of half a percentage point wasn’t unexpected, but what it said about potential future increases was surprising.   Scotiabank’s Chief Economist Jean-François Perrault is back to discuss how the central bank is signalling a pause on future hikes, when he expects interest rates to start going down, and his latest research on what factors in Canada have further contributed to the global factors driving inflation.  Read Scotiabank Economics’ research report on Canadian factors impacting inflation here.  Key moments this episode: 00:55 — How the Bank of Canada explains the latest hike 1:46 — Why the language they used (or didn’t use) indicates rates may stop rising 2:22 — Why the tone of this recent announcement seems more optimistic 3:08 — Why sometimes “good news” can actually be a pessimistic outcome for growth 3:50 — How does a potential recession fit into all this? 5:28 — Will interest rates start to come down in 2023? 6:18 — What is driving inflation in Canada and why COVID support programs may have played a role