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in si de ha lto n. co m O ak vi lle B ea ve r | T hu rs da y, M ay 5, 20 22 | 6 ABOUT US This newspaper, published every Thursday, is a division of the Metroland Media Group Ltd., a wholly-owned subsidiary of Torstar Corporation. The Metroland family of newspapers is comprised of more than 70 community publications across Ontario. This newspaper is a member of the National NewsMedia Council. Complainants are urged to bring their concerns to the attention of the newspaper and, if not satisfied, write The National NewsMedia Council, Suite 200, 890 Yonge St., Toronto, ON M4W 2H2. Phone: 416-340-1981 Web: www.mediacouncil.ca insidehalton@metroland.com facebook.com/OakvilleBeav @OakvilleBeaver WHO WE ARE VP, Regional Publisher Kelly Montague Regional General Manager Jason Pehora Director of Content Lee Ann Waterman Regional Managing Editor Catherine O'Hara Managing Editor Karen Miceli Director of Distribution Charlene Hall Circulation Manager Kim Mossman Directors of Advertising Cindi Campbell and Graeme MacIntosh Director Creative Services Katherine Porcheron CONTACT US Oakville Beaver 901 Guelph Line Burlington, ON L7R 3N8 Phone: 905-845-3824 Classifieds: 1-800-263-6480 Advertising: 289-293-0620 Delivery For all delivery inquiries, please e-mail kmossman@metroland.com or call 905-631-6095. Letters to the editor Send letters to insidehalton@metroland.com. All letters must be fewer than 320 words and include your name and telephone number for verification purposes. We reserve the right to edit, condense or reject letters. Published letters will appear in print and/or online at insidehalton.com OPINION TO LEARN HOW TO SUBMIT YOUR OWN CONTENT VISIT INSIDEHALTON.COM Emergencies can hap- pen at any time, and being prepared can help protect yourself and your family. As we recognize Emer- gency Preparedness Week from May 1 to 7, I would like to thank first responders and all those working to keep Halton safe. I also encourage every- one to prepare for emer- gencies by following three easy steps: 1. KNOW THE RISKS Be aware of potential hazards -- including se- vere weather conditions such as thunderstorms, flooding and extreme wind -- that can cause or con- tribute to an emergency in your community. You can also check the Emergency Alerts and Public Information page on halton.ca to stay in- formed about potential emergencies in our com- munity. 2. MAKE A PLAN Know how to respond in an emergency. Make a plan that includes where exits are located in your home or apartment building, where you keep essential sup- plies, who to contact for help and what to do if left without power or running water. In case you need to leave your home, make a list of family and friends you can contact and note the clos- est evacuation centre. 3. GET A KIT Get an emergency kit that contains everything you need to keep yourself, your family and your pets safe during an emergency. Your kit should contain food, water and other ne- cessities required to last your household for at least 72 hours if you lose access to running water or power. You should also prepare a separate kit for your car that contains items that can help you stay safe dur- ing emergencies on the road. To learn more about what to include in your emergency kit, visit the Get a Kit section on halton- .ca. By completing these three steps, you and your family will be prepared for an emergency. That way, first responders can focus on the emergency and as- sisting those in critical need. To learn more about how you can prepare for emergencies, visit the Pre- paring for Emergencies page at halton.ca. Emergency prepared- ness starts with you. Gary Carr is regional chair of Halton Region. To contact him, email gary.carr@halton.ca. DO YOU KNOW WHAT TO DO IN AN EMERGENCY? HERE ARE SOME STEPS TO PROTECT YOU AND YOUR FAMILY, WRITES GARY CARR The Bank of Canada (BOC) recently increased interest rates by half a per cent, the largest hike in two decades. Plus, there were warn- ings additional increases will be announced. The BOC also an- nounced it will stop buying federal government bonds, which it had been doing to keep interest rates low. That too will cause interest rates to rise. The target rate for infla- tion is between one and three per cent. As of Febru- ary, inflation was 5.7 per cent -- the highest in the last three decades. The significance of these actions is the severi- ty. My observation was the main strategy used in the past to control inflation was warning the public that higher interest rates would come. The hope was people would stop borrowing and overspending because of the threat of future higher borrowing costs. That did not work. Neither did the last rate increase of one quarter of one per cent. The question is, how do we live with significantly higher interest rates? Many live from pay- cheque to paycheque, with little to spare. Inflation meant daily living costs had already in- creased, so higher borrow- ing costs could be unman- ageable. Variable rate mortgages mean that higher costs can happen immediately. Some households will have to curb spending, which hurts many busi- nesses. We encourage you to plan how to navigate spending in this era of in- creased borrowing costs. Peter Watson is regis- tered with Aligned Capital Partners Inc. (ACPI) to provide investment advice. Investment products are provided by ACPI. ACPI is a member of the Invest- ment Industry Regulatory Organization of Canada. The opinions expressed are those of the author and not necessarily those of ACPI. Watson provides wealth management services through Watson Invest- ments. He can be reached at www.watsoninvestment- s.com. INTEREST RATE HIKE WILL BE PAINFUL PETER WATSON Column GARY CARR Column