Good morning. It’s Wednesday 4th May, and here’s a round up of the latest news.
Major banks take up interest rate hike
Australia's four major banks have announced they're following the Reserve Bank's interest rate rise.
Commonwealth Bank, ANZ Bank, NAB and Westpac have all passed on the full 0.25 per cent increase.
Such an increase will add .
Australia's central bank lifted its benchmark interest rate for the first time in more than 11 years. Source: AAP / Mark Baker
"It is now time to begin withdrawing some of the extraordinary monetary policy support that was put in place to help the Australian economy during the pandemic," Mr Lowe said.
"The economy has been very resilient - unemployment is low, and economic growth is expected to be strong this year.
"Inflation has picked up more quickly, and to a higher level than we had expected."
Mr Lowe said it is possible the rate could eventually rise to 2.5 per cent in the short to medium term.
Financial markets are expecting a rate of more than 0.6 percent after the next Reserve Bank board meeting, to be held next month.
Government responds to interest rate rise
by guaranteeing the level of income payments for around 900,000 Australians.
The government is pledging that, if re-elected, . This is known as the deeming rate.
The lower deeming rate will be frozen at 0.25 per cent for financial investments up to $53,600 for single pensioners, and $89,000 for couples.
The upper deeming rate will remain at 2.25 per cent on investment assets over those amounts.
Russia attacks again in Mariupol
The United Nations World Health Organization (WHO) says they are awaiting more evacuees from the Azovstal steel plant in Mariupol in Ukraine.
Ukrainian fighters say in Mariupol after a ceasefire broke down with about 200 civilians trapped underground despite a United Nations-brokered evacuation.
The UN and Red Cross are leading the evacuation, after negotiating with Russian and Ukrainian authorities.
Civilians pulled by Azov Regiment fighters from the rubble at the Azovstal plant on Monday. Source: AAP / Azov Regiment / Cover Images
Ms Nizan says she doesn't know exactly when they will arrive, but says she knows they are on the way, and is confident medical teams will be able to help them.
"What is awaiting on the buses, we do not know. We are ready for burns, fractures, and wounds, as well as infections, diarrhea, respiratory infections. And we are also ready to save the pregnant women, children, malnutritioned."
Roe v Wade: Joe Biden blasts 'radical' draft US Supreme Court ruling overturning abortion rights
A leaked draft from the US Supreme Court suggests the 1.
If the right is overturned, it would mean individual US states would be able to make their own rules regarding abortion.
Speaking from Air Force One, White House Press Secretary Jen Psaki reiterated a statement from Mr Biden, saying if Roe falls, abortion could be illegal in about half of the states in the country.
"It is often shorthanded not by any of us, but in public discourse as a political issue, as a wedge issue. It is not a wedge issue," she said.
"The majority of the public supports women's fundamental rights, and the people who would be impacted overwhelmingly are on lower income and are people of colour."
A final decision is expected in June or early July.
Kate Jenkins rejects law reforms to protect women's sports
Sex Discrimination Commissioner Kate Jenkins has .
Ms Jenkins said sporting codes are already abiding by the laws and have shown a "real commitment" to being inclusive.
Sex Discrimination Commissioner Kate Jenkins. Source: AAP
“I think those laws have served us well and continue to do so.”
Ms Jenkins was last year tasked by the Coalition government to conduct an independent review into the culture of Parliament House.
for Liberal Senator Claire Chandler and .
Senator Chandler and Ms Deves have promoted a campaign to make it easier for sporting groups to .
Teachers strike in NSW - again
, calling for increased pay and reduced workloads.
seeking two extra hours of planning time and a pay rise between five and 7.5 per cent to attract and retain workers.
New analysis by the McKell Institute shows if NSW teachers were to accept the state government's current offer, salaries would fall by more than $2,000 over the next two years.
Schools will remain open, with principals advised to communicate the impact the strikes could have on student supervision.
With AAP, AFP, Reuters.
