Laurent Ferreira said at the bank’s annual general meeting on Friday that the government should accelerate mining, defence and infrastructure projects amid rising trade geopolitical tensions. (The Logic)

Talking point: He warned inflation could remain volatile in the coming quarters as global shocks strain supply chains, and urged caution from the Bank of Canada in responding to externally driven price pressures. Ferreira singled out Quebec as at risk of falling behind other provinces despite its strong energy and resource base. “More than half of the natural gas consumed in Quebec and Ontario comes from the United States. This makes no sense,” he said. He also called for the two provinces to build an “integrated northeast grid” combining hydro and nuclear power. Even as some peers—like RBC and Scotiabank—scale back their ESG ambitions, he said National Bank remains in an “excellent position” to meet its target of $20 billion in renewable energy lending by 2030.