Perspectives

Black Friday marks the unofficial start of the holiday shopping season. So, we're taking the pulse of Canadian consumers and retailers. John Zamparo, Analyst in Retail and Consumer Products at Scotiabank is our guest and will tell us why Canadian retailers and consumers are feeling cautious, where bargain hunters may (or may not) find some deals, what trends he’s seeing and much more.  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:  1:15 – Why the headline for this year’s Black Friday is “proceed with caution”   2:01 – Why good economic news isn’t translating to increased consumer spending  3:56 – The most common question John gets from family and friends on pricing  4:33 – How consumer sentiment might affect Black Friday trends  6:11 – What does John mean when he says we might see a more “traditional” Black Friday?  6:25 – How the postal worker strike may affect Black Friday and holiday purchasing  6:54 – Where consumers will likely see some deep discounts this Black Friday (and where they won’t)  7:44 – Canadians love a deal. And that’s backed by research  9:00 – What about trends when it comes to Canadians dining out vs. dining in?  10:01 – What is the state of food prices in grocery stores now vs. a year ago?  11:36 – How Canadian consumers compare to the rest of the world when it comes to online shopping and how that changes on Black Friday  12:48 – What’s John splurging on for himself this holiday?

Do you have a will? For almost half of Canadians, the answer is no – and the task of creating one is likely at the bottom of their to-do list. The process can seem complicated or even intimidating. So, this episode we’re going to help make things less daunting by debunking some common misconceptions around wills and other end-of-life documents. Erin Bury, Co-founder and CEO of Willful, a Canadian, do-it-yourself online will platform is our guest and has ten common myths around this topic that she’ll dispel once and for all.  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:  2:15 – How did Erin come up with this list of myths around estate planning?  3:45 - Myth 1: I’m too young to need a will   5:19 - Myth 2: I don’t have enough assets to warrant getting a will   6:35 - Myth 3: I don’t need a will, everything will just go to [insert family member’s name] anyway   9:00 - Myth 4:  I can just tell my family my wishes   9:55- Myth 5: I have to visit a lawyer to create a will   12:13 - Myth 6: A will is a one-and-done document   14:24 – Bonus myth: where should you keep the paper copy of your will?  15:05 - Myth 7: I’ve got a will, now I’m done with estate planning.   17:35 - Myth 8: Creating a will is extremely time-consuming   19:05 - Myth 9: I need to list out all my assets in my will  21:45 - Myth 10: My spouse and I only need one will

In this episode, we bring you a live discussion all about what might be in the cards for the next few months and into 2025 when it comes to the Canadian economy and beyond. Jean-François Perrault, the Chief Economist at Scotiabank, and Myles Zyblock, Chief Investment Strategist at Scotia Global Asset Management, are our guests and discuss everything from what the results of the U.S. election might have on stock markets and investors, how AI is reshaping companies and workforces, and much more.   For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures     Key moments this episode:  1:46 – Has the Bank of Canada stuck the “soft landing”?   5:33 – From a layperson’s perspective, stock markets seem to be doing pretty well. Is it as rosy as it looks?  8:27 – How the outcome of the U.S. federal election will factor into their latest economic outlook  11:55 – What impact will the U.S. federal election have on markets, if any?  16:15 – What impact might Trump’s potential tariffs have on the economy?  18:00 – Broadly speaking, what might be ahead in terms of global economic growth?  20:28 – What does the success or failure of China mean from an investor perspective?  21:49 – Looking under the hood at U.S. markets  24:24 – What about Canadian markets?   25:45 – What effect might the Canadian government’s latest announcement about scaling back immigration numbers have on things like the labour market or housing?   32:28 – Why Myles thinks gold has been so puzzling lately and how you may be able to use it in a portfolio  34:31 – Has AI created a market bubble?   37:17 – Wrapping up, what are the big risks and opportunities investment wise over the next year and how can people mitigate those risks?

In this episode, we’re highlighting five more missteps that investors seem to make time and time again. Yuko Girard, Portfolio Manager on the Multi Asset Management Team at Scotia Global Asset Management returns to cover everything from ETFs vs. mutual funds, passive vs. active management and even how psychological factors like loss aversion or FOMO can hamper your investments.   Check out Yuko’s first installment for more common mistakes to avoid.  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:   1:36 - Common investing mistake #1: Not fully understanding what it is that you’re buying. For example, what's the difference between an ETF and a mutual fund?  7:07 - Common investing mistake #2: Being impatient  8:52 - Common investing mistake #3: Letting your emotions drive your decision making. For example, the phenomenon of loss aversion  11:54 - Common investing mistake #4: Falling for the FOMO trap  13:30 - Common investing mistake #5: Overestimating your ability to invest on your own

The Bank of Canada has announced yet another interest rate cut and this time, it’s a big one: a 50-basis-point reduction that brings the policy interest rate to 3.75%. As always, here to tell us what this latest announcement means for Canadians is Scotiabank’s Chief Economist Jean-François Perrault.   For an up-to-date breakdown of the Bank of Canada’s key interest rate and its change over time alongside inflation numbers, visit our interest rate page.  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures    Key moments this episode:  00:59 - JF’s initial thoughts of the Bank of Canada announcement.  2:03 - How unusual is a 50-basis-point cut for the central bank?  2:55 - Why did the Bank of Canada push forward with a large cut?  4:20 - JF weighs in on whether this was the right move.  6:00 - How will Canadians feel the impact of this interest rate cut?  7:54 - How will businesses feel the impact?  8:44 - How long does it take for these cuts to have a tangible impact?  9:37 - What are the risks that could drive inflation back up?   11:43 - What’s the impact of inflation becoming too low?  12:33 - What does JF expect from the Bank of Canada’s next decision in December?  13:50 - What is the current outlook for the economy in 2025?  15:44 - What are the key takeaways for Canadians from this announcement?

Cedar Leaf Capital is the first Indigenous-led, Indigenous-owned investment dealer in Canada. Our guests today describe that as unprecedented, disruptive and a step towards empowerment and economic reconciliation in Canada. Mindy Wight, CEO of Nch’ḵay̓ Development Corporation — one of the three Indigenous shareholders which own the majority of Cedar Leaf — and Cedar Leaf CEO Clint Davis are here to tell us all about this latest venture and what it means for access to capital for Indigenous communities and beyond.  Want to read more about Cedar Leaf Capital? Check out our full story here.   Key moments this episode:  1:39 – What exactly is Cedar Leaf Capital?  2:21 – Why underrepresentation of Indigenous groups in capital markets particularly interest one of the shareholders, Nch’ḵay̓ Development Corporation   3:17 – How did Cedar Leaf come together?  4:50 – Why Mindy found the proposition to be a part of Cedar Leaf so compelling  5:30 – What does an Indigenous-led, Indigenous-owned investment dealer bring to the table that other ventures may not?  6:40 – The feedback Mindy has been hearing from her community and why it’s an opportunity to educate  7:38 – Why Mindy thinks there is underrepresentation of Indigenous Peoples in finance  9:13 – What progress has been made on economic reconciliation in Canada in the last decade?  12:30 – How Cedar Leaf may help with access to capital for Indigenous communities  13:55 – How the unique ownership structure of Cedar Leaf and the plan to be wholly Indigenous-owned sets a ‘new standard’  17:12 – How did Cedar Leaf select its three Indigenous partners: Nch’ḵay̓, Des Nedhe and the Chippewas of Rama First Nation?  19:08 – What's next for Cedar Leaf Capital?   21:36 – Why this venture is such a personal mission for Clint and Mindy    For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures

When it comes to online scams, people not only need to remain vigilant to protect themselves, they have to look out for a parent and maybe even kids who are just starting to go online. So, this episode our fraud expert, Scotiabank’s Vice President of Cybersecurity Operations Louise Dandonneau, breaks down the latest cyber scams and offers tips on how you can keep your family safe.    Key moments this episode:  1:54 – A quick snapshot of what the cyber crime landscape looks like  2:37 – The most common cyber crime according to statistics  3:58 – Are individuals (in addition to large organizations) being extorted by criminals locking down their data?  4:20 – Louise runs down an increasingly common online fraud: gift card scams  5:35 – The big reason scammers are becoming more sophisticated: AI  6:15 – Why phone scams are still prevalent   7:01 – What is spear phishing?  7:58 – In what ways are older people specifically targeted for cyber fraud?  9:22 – What should you tell an older parent to avoid being a victim of cyber fraud?  10:41 – How online security can take a cue from old school safety techniques   11:11 – How are kids targeted online and how can we help prevent them from becoming victims?  13:33 – One key tip that can help prevent cyber crime    For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures

Carbon capture sounds like a simple solution to a complex problem like climate change. And it’s especially appealing for a country like Canada with ambitious emission reduction targets. But does it work? John McNally, the Senior Advisor for Climate and Socio-Economic Policy at Scotiabank, recently wrote a report on the topic and is our guest this episode. He’ll give us a primer on this emerging technology and outlines the promise and potential hurdles it presents.     Key moments this episode:  1:23 – A quick overview of what carbon capture is  2:26 – Why is there so much talk about carbon capture right now?  3:26 – What is done with the carbon after it’s captured?  5:12 – What do carbon removal or capture facilities look like?  6:11 – Why Canada has an advantage when it comes to storage  6:40 – The most common question John gets asked: does carbon capture really work?  8:15 – How realistic is this technology when it comes to curbing climate change?  9:58 – What is the current global carbon capture capacity?  10:30 – Why Canada has the ‘bronze medal’ when it comes to carbon capture  10:47 – How big of a role does carbon capture play when it comes to Canada’s strategy to hit its climate goals?  12:11 – What are the biggest hurdles in ramping up carbon capture?  14:12 – The risks around carbon capture technology  16:03 – Why put the effort towards carbon capture and storage rather than focusing on reducing emissions?   17:25 – What the future has in store when it comes to carbon capture    For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures

When it comes to estate planning, most people’s first thoughts are about creating a will. But there’s another important document that only about one third of Canadian adults currently have in place. And that’s a power of attorney or POA. Laura Tamblyn Watts, Author and CEO of Canada’s National Seniors Advocacy Organization, CanAge, and Rob McGavin, the Managing Director at Scotiatrust give us the ins and outs of this sometimes intimidating, but essential document.  Key moments this episode:  1:44 – So what is a power of attorney?  2:50 – The various names for these documents in different provinces   3:28 – How POA for property can be used to help a family member who would rather have someone else handle those decisions and tasks before its necessary  4:15 – Why POA is a critical part of the estate planning conversation  4:50 – How many Canadians actually have a POA?  7:20 – Why POAs are important for people of all ages  8:21 – What are the responsibilities for someone acting as an attorney?   11:12 – When POA for personal care kicks in and how is that determination made?   14:34 – The limitations of managing a loved one's finances without a POA  17:37 – When should someone get a POA?  20:00 – How to start a conversation with a parent about POA  22:32 – Addressing the common misconceptions around POAs  22:38 – Who should or shouldn’t you appoint as your POA?  28:20 – What role Scotiatrust can play when it comes to estate planning    For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures

This episode, we’re breaking down five missteps that our guest Yuko Girard, Portfolio Manager on the Multi Asset Management Team at Scotia Global Asset Management has seen investors make time and time again. From following fads to trying to time the markets and much more.  Key moments this episode:   1:19 - Common investing mistake #1: Not diversifying beyond tech  3:39 - Common investing mistake #2: Trying to time the market  8:16 - Common investing mistake #3: Chasing returns  10:08 - Common investing mistake #4: Not understanding that the market is different from the economy  13:05 - Common investing mistake #5: Investing based on potential election results    For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures

The last time you borrowed money, there’s a good chance you were also offered insurance on that loan. Something that will pay off the debt or keep up with payments if anything happens to you. And you might have thought, “But, I already have insurance from my job or my partner’s job.” Well, it’s likely not sufficient, according to our guest this episode. Wayne Hewitt is the Senior Vice President of Insurance Canada at Scotiabank. And he’s here to shed some light on creditor insurance, an often-overlooked type of coverage that can provide a crucial safety net.       Key moments this episode:  1:27 – What exactly is creditor insurance?   4:00 – Why creditor insurance is important even if you’re not the main income earner in your family  5:40 – What are the options when it comes to coverage?  6:35 – What is the difference between term insurance and creditor insurance?  10:03 – What Wayne has to say to someone who thinks it’s just an unnecessary extra expense  11:17 – How does where you are in life affect considering creditor insurance?  12:34 – Why insurance coverage through your job (or a spouse’s job) may not be sufficient  14:00 – What does it mean to be ‘underinsured’ and how do you know?  15:35 – Key tips when getting creditor insurance  17:22 – What revolving and non-revolving line of credit and how does that play into creditor insurance?  18:35 – Addressing two big misconceptions about insurance  19:44 – The main takeaway from this interview    For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures

The Bank of Canada made yet another 25-basis-point cut to its benchmark interest rate, marking its third in a row and bringing the rate to 4.25%.  This move was largely expected, but still welcome news for Canadians and a reflection of easing inflation.   Scotiabank’s Chief Economist Jean-François Perrault is back to break down this latest announcement and the impact of the central bank’s cutting cycle so far, and provide his take on the current state of the Canadian economy.  For an up-to-date breakdown of the Bank of Canada’s key interest rate and its change over time alongside inflation numbers, visit our interest rate page.    Key moments this episode:  1:01 - JF's reaction to the latest central bank decision to cut its key interest rate by 25 basis points  1:27 - What can we glean from the Bank of Canada's comments?  2:24 - What JF expects for the Bank of Canada's two decisions in 2024 and 2025  3:13 - What imnpact has the two previous interest rate cuts had on Canada's housing market?  5:20 - The U.S. Federal Reserve is expected to start cutting rates this month. How does that factor into the Bank of Canada's decisions and how does it impact the broader economy?  6:17 - Risks to inflation, and the current state of the Canadian economy  9:48 - A closer look at GDP data - should we be concerned about weak household and per capita spending?  11:17 - Will already high unemployment in Canada rise further?  12:48 - How could trade tensions with China and tariffs on electric vehicles, steel and aluminum impact inflation?  14:42 - Three key takeaways for Canadians    For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures

The Bank of Canada has cut its benchmark interest rate by 25 basis points, marking the second cut in as many months, to 4.5%. Scotiabank’s Chief Economist Jean-François Perrault returns once again to break down the decision and its implications.  For an up-to-date breakdown of the Bank of Canada's key interest rate and its change over time alongside inflation numbers, visit our interest rate page.     Key moments this episode:  1:00 – Why Canadians should “take a lot of comfort” from the latest announcement   1:42 – What might have given the Bank of Canada assurance to make a cut  3:13 – Will we see back-to-back cuts in the next two meetings as well?  4:21 – What are the biggest risks that could keep inflation from coming down?  6:20 – The state of the housing market – a large factor when it comes to inflation in Canada  8:06 – What about risk around a potential recession? Are we out of the woods?  9:37 – What is the impact of the U.S. and Canadian central banks diverging?  11:30 – The 3 key takeaways for Canadians from this announcement

This episode we have a very special guest: award-winning author Michelle Good. Michelle is a writer of Cree ancestry and a member of the Red Pheasant Cree Nation in Saskatchewan. Her books include Five Little Indians and Truth Telling. Her writing takes an unflinching look at our nation’s past and how it still affects the present. So, she’s here today to give us a bit of a history lesson ahead of Canada Day. You’ll hear a conversation between Michelle and Myan Marcen-Gaudaur, Scotiabank’s Director of Social Impact and Reconciliation. They talk about the motivation behind Michelle’s writing, the state of reconciliation in Canada, the concept of “radical hope” and more.   This episode contains accounts of violence and mention of suicide.    Key moments this episode:  3:00 – Why Canada’s colonial history is still very much part of the present  4:00 – Michelle gives some insight into a very personal chapter of her latest book, Truth Telling  6:21 – What the relationship between Michelle’s mother and her grandmother can tell us about how challenging it can be being Indigenous in a non-Indigenous world  8:10 – How colonial perceptions can be passed down to subsequent generations  9:10 – The meaning behind the chapter titled $13.69 and what it says about restoration for the past  12:00 – Michelle defines her concept of “radical hope”   13:20 – How the crisis around missing and murdered Indigenous women, girls and Two-Spirit peoples is rooted in history  17:31 – The decimation of the buffalo and the impact that had on Indigenous communities  21:35 – Why is the truth part of “truth and reconciliation” so important?   25:03 – How can Canadians move from knowledge to action when it comes to reconciliation?   27:54 – Michelle reflects on the changes she has seen in thoughts and attitudes among non-Indigenous people in her lifetime

The Bank of Canada has cut its key interest rate for the first time in more than four years, marking a pivot in its long fight to tamp down inflation. After a quarter-percentage-point cut, the central bank’s benchmark rate now sits at 4.75% — welcome relief for variable-mortgage holders, businesses and others feeling the pinch of higher interest rates. Scotiabank’s Chief Economist Jean-François Perrault is back to discuss the central bank’s decision to cut, what this means for Canada’s housing market and the broader economy, and what Canadians can expect in the months ahead.  For an up-to-date breakdown of the Bank of Canada's key interest rate and its change over time alongside inflation numbers, visit our interest rate page.  Key moments this episode:   1:21 – JF's initial take on the central bank’s decision to cut its key rate  1:50 – Why did the Bank of Canada decide to cut today?  2:31 – Will inflation get back down to the Bank of Canada’s target?  3:45 – What does this cut mean for Canadians? How will they feel the difference?  5:00 – How many more cuts can we expect this year? How fast or slow will this process be?  5:45 – What can we expect to see next year based on this latest cut?  6:15 – Is this the ‘soft landing’ we’ve been hoping for?  7:45 – What are the indicators that Canadians should be looking for to tell us the path ahead for future cuts?  8:43 – The three key takeaways for Canadians from this latest decision

People are living longer, but the cost of caregiving is something many Canadians don’t plan for. Our guest this episode is Dr. Zahinoor Ismail. He’s a dementia expert and Clinician Scientist at the Hotchkiss Brain Institute at the University of Calgary. He’ll tell us all about the often overlooked emotional and financial impacts of caring for those with dementia as well as the research he’s doing with the help of charity Gordie Howe CARES.  For more information on the University of Calgary CAN-PROTECT caregiver study and for caregiver resources visit Gordie Howe CARES.  Key moments this episode:  1:27 – What exactly is dementia and how it is different from Alzheimer's?  3:23 – What is meant by the term “caregiver”? How has the definition evolved?  5:46 – Three major factors that can contribute to the burden on a family/friend caregiver  10:19 – The financial and emotional cost of caring for a loved one  11:20 – How Gordie Howe CARES is helping caregivers  14:20 – An example of the financial burdens of caregiving  15:14 – What about the taboo around having a loved one with cognitive decline? How does that affect caregivers?  15:56 – The two things Dr. Ismail finds rewarding about this work  17:33 – How can caregiving be made a positive experience?

Generative AI, the kind of artificial intelligence that creates content for you or answers questions based on a prompt, is already changing many aspects of our lives. But according to our guest this episode, that’s just the tip of the iceberg, especially when it comes to businesses taking advantage of this new technology. Divya Goyal is an Analyst in Global Equity Research at Scotiabank and will give us a birds-eye view of how Canadian businesses are approaching and adopting this revolutionary technology. She’ll tell us what sectors are ripe for disruption, what role Canada could play when it comes to homegrown innovation, some unintended consequences of this new technology and much more.    Key moments this episode:  1:27 – A quick snapshot of the state of AI  3:25 – How have technologies like generative AI changed things for business?  5:38 – Why we are just at the ‘tip of the iceberg” with generative AI adoption in business  8:04 – How businesses have started to use these AI technologies already  10:11 – Which industries are most “ripe for disruption” when it comes to AI  12:29 – Is AI going to take away jobs?  12:49 – What about the increased demand for electricity and electrical grids driven by AI’s increased usage?  15: 33 – Where does Canada stand in terms of its adoption of these technologies in business?  17:05 – What is the state of AI technology development in Canada?  19:27 – How will AI reshape our world ten years from now?  21:38 – What's the next big thing when it comes to AI tech?

Scotiabank Senior Economist Farah Omran is back this episode to give us her take on the state of the Canadian housing market. She'll break down the latest numbers, explain the high stakes and “suspense” she’s seeing, tell us what might play out in the next six months and much more.    Key moments this episode:  1:10 – Farah catches us up on the market since her last podcast appearance in the fall  2:41 – What Farah means when she says “stakes are high”   3:42 – The mystery behind why we’re seeing a relatively slow spring real estate season  5:38 – Are there any markets that are especially hot in Canada?  6:45 – Are people waiting for rate cuts before entering the market?  8:12 – How the housing market impacts the interest rate outlook and vice-versa   10:02 – An update on housing shortages and what governments (including the recent federal budget) are doing  15:18 – Digging into the psychology around the housing market  17:03 – Farah breaks out her non-existent crystal ball: what might the next six months look like?

This episode is a handy primer for anyone looking to get started in investing, or even those looking to refresh their knowledge. Our guest Craig Maddock, Vice President and Senior Portfolio Manager with Scotia Global Asset Management, breaks it all down in plain language. Everything from GICs, to stocks and bonds, to ETFs and mutual funds. It even addresses some common misconceptions and provides some questions to ask yourself before you visit an advisor.    Key moments this episode:  1:30 – What is the difference between investing and saving?  2:49 – Why are people intimidated by investing when they first start out?    5:17 – The most common misconception people have about investing (and how to avoid it)  6:47 – What should someone ask themselves before they see an advisor?   9:56 – How does time horizon factor into investing?  11:17 – What is a GIC?  13:44 – What are stocks and bonds?  20:56 – How is investing more than just ‘gambling’?  23:18 – What are mutual funds? How are they different from ETFs?  30:09 – How is investing like fixing your car?  32:16 – Some final advice for someone who is just getting started investing

Talking about money with loved ones can be difficult. So in order to make those tricky conversations a little easier, a new project has broken down how we relate to money into six different Money Styles. Think love languages, but for finances. Tanya Eisener, the Senior Vice President of Retail Customer Value at Scotiabank, and Adam Palanica, the Senior Manager of Global HR insights and People Analytics at Scotiabank, are our guests this episode. They tell us how this tool works, why it’s needed and how you can use it to get a better handle on the emotions around money.  To take the quiz and find your Money Style, check out the Money Style by Scotia Advice+ page.    Key moments this episode:   1:47 — So what is a Money Style?    2:14 — How did behavioural science inform the creation of Money Style?  2:53 — Why is money so difficult to talk about?  4:29 — Getting to the root of the feelings around money  5:13 — How does the Money Style quiz help make money conversations easier?  6:23 — Why taking the stress out of financial conversations is especially important now  7:17 — Some fascinating numbers around money and relationships  7:46 — Breaking down the six Money Styles  10:11 — How to interpret the quiz results  11:24 — What to do once you’ve figured out your Money Style  12:07 — How long does the quiz take?  12:37 — One final behavioural science tip to help your relationship with money  12:46 — Tanya’s takeaways around what she’s learned about our sometimes thorny relationship with money