Bank of Canada lowers rate again, but don’t expect more cuts
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
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Business journalist Amber Kanwar on why ‘investing changes lives’ — especially for women
In partnership with the Scotiabank Women Initiative, business journalist Amber Kanwar, host of the In the Money with Amber Kanwar podcast, is our guest to talk about women’s relationship with money, how motherhood affects that, her personal journey from TV host to being her own boss and what she’s learned about investing and finance along the way. There is a lot to consider when planning for your future. Discover Scotia Wealth Management’s Total Wealth Planning process and how it can benefit you. Learn more at https://www.scotiawealthmanagement.com/ca/en/about-us.html
For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures
Key moments this episode:
2:01 – Amber walks us through the decision to focus as a reporter on money and business journalism
3:16 – What it was like learning the ropes in a largely male-dominated industry
5:56 – How women tend to approach investing differently and why
11:00 – The generational difference on how women approach money
13:49 – Amber's biggest tip for women who are interested in starting to invest
15:28 – What Amber's learned from the latest chapter in her career: leaving TV and starting her own podcast
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What does sustainability mean when it comes to agriculture?
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
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The evolution of technology in banking
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?
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The Truth and Reconciliation Commission ten years out: A conversation with commissioner Marie Wilson
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
Each week we help break down the important economic issues on Canadians’ minds. With our unique access to leading experts, timely insights and helpful explainers, we navigate the latest in the world of finance, housing, business, the markets — and more.
For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures
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