Wednesday, 6 May - See them long trains runnin'

Good morning, it’s Wednesday, 6 May. In your Squiz Today…

• Interest rates go up for the third consecutive time

• Author Craig Silvey pleads guilty to possession of child exploitation material

• and we have a gallery of all the Met Gala looks

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Squiz the Weather

Squiz Sayings

Said 19yo French cyclist Paul Seixas to his grandparents, in a video posted to social media yesterday. Seixas is seen as a cycling prodigy, and there will be a lot of eyes on him in July, because the race he’s talking about is a little thing called the Tour de France…

Rates on the rise

The Squiz

As most experts were predicting, the Reserve Bank raised the nation’s cash rate by 0.25% to 4.35% yesterday. It’s the third rate rise in a row this year - and it’s likely to pile more pressure on Aussies already struggling to afford steeper fuel and grocery prices. The RBA’s Governor Michele Bullock says she understands “this is a really difficult time for households … but we must get on top of inflation now so that it doesn’t get away from us”.

What’s the thinking there?

Bullock says rising oil prices due to the war in the Middle East are making us “poorer” but the risk of uncontrolled inflation is much worse. And she noted that even without the effects of the war, the trimmed mean - the rate of inflation without the extremes - is still sitting at 3.3%, which is above the RBA’s target range of between 2-3%. The big banks have already begun passing on the increase, which analysts say will add around $91 to monthly repayments on a $600,000 mortgage over 25 years. Here’s a calculator to do your own sums…  Household spending is something the federal government is looking at closely ahead of next week’s Budget, and reports say a possible tax cut could be in the works, to lighten the load…

What’s in the wind?

The Australian reported yesterday that Treasurer Jim Chalmers will announce a tax cut of between $200 and $300 for every Aussie worker. That idea has not calmed the Coalition’s criticism that the Albanese Government is spending too much, which it says has added to our inflation headaches… Coalition Treasury spokesman Tim Wilson said he’d wait until he had details, but the measure would likely “fuel inflation” and “give with one hand and then take even worse and harder with another”. Bullock too noted that handing out money at Budget time to cover shortfalls for households “makes it harder to dampen demand”. Both the PM and Chalmers are staying tight-lipped on that, so workers will have to sit tight until 12 May for any sweeteners…

Rates up again - but maybe that’s it…

After the RBA decision to lift rates yesterday, CommBank economists are already looking ahead to what happens next. They reckon the RBA hinted that might be the last rise for 2026… what was the clue? Find out at CommBank Newsroom.

Squiz the Rest

Craig Silvey pleads guilty

The author of Jasper Jones and Honeybee admitted to possessing and distributing child exploitation material in a Western Oz court yesterday. Back in January, police raided Silvey’s home, seized his electronic devices and charged him with possession, distribution and production of the material - they’ve since dropped the production charge. Beyond the seriousness of the charges, this has been such a big story because Silvey was one of our most respected authors for young Aussies - his work was on school syllabuses (it isn’t any more) and plenty of bookstore shelves, and he was a patron of an award for young writers. He’ll next be in court for sentencing in July.

Cabin fever

At least 4 Australians are aboard a cruise ship being held off the coast of Cabo Verde in West Africa, which is at the centre of a deadly hantavirus outbreak. Three people have died from the suspected cluster on MV Hondius, and 4 more are receiving treatment. The virus is spread by rodent droppings, urine and saliva - you might remember it was in the news after the deaths of Hollywood actor Gene Hackman and his wife Betsy Arakawa last year. In this case, the Oceanwide Expeditions cruise was sailing from Antarctica when it asked for medical help on Sunday. Reports say passengers and crew are staying in their cabins until they get the all-clear - but with symptoms taking up to 45 days to show, it could be a while…

No longer in train

The long-running and controversial Inland Rail project had a big haircut yesterday - it’s not going to Brisbane anymore. Over 10 years ago, the then-Coalition government announced a plan to link Melbourne to Brisbane via a rail line running through regional NSW - but the project has had all sorts of trouble since. The original idea was that it would run 1,600km and cost about $10 billion - so far, 436km are done and the cost has blown out to $45 billion. So the Albanese Government has scrapped the northern section - instead of Melbourne to Brisbane, it’ll go to Parkes in NSW - and the government will divert the rest of the money to other projects. It’s the incredible shrinking railway - in everything but cost… 

Body-ody-ody-ody

The Met Gala is over for another year, but it definitely gave us some memorable moments… This year’s theme, “Costume Art”, inspired nods to famous art movements, like Anne Hathaway’s ancient Grecian-style gown, as well as celebrations of the human body, like Beyoncé’s skeletal outfit. But not everyone was celebrating - the role of Amazon founder Jeff Bezos and his wife Lauren Sánchez Bezos as honorary co-chairs (and the main funders of the Costume Institute’s exhibition) copped some criticism over Amazon’s alleged mistreatment of workers. The event did raise a record $58 million for the Metropolitan Museum of Art - you can check out Vogue’s gallery (what else?) to see all the looks the night had to offer…

It may be time to look up…

…because there’s lots of good stuff in the skies over the coming month. Today and tomorrow, the Eta Aquariid meteor shower could be visible in the sky - although it will be a little harder to see than last year, due to the full moon we just had. If you like your chances though, you’ll need to get up around 4.00am (like we do) to see them. Also this month, the comet C/2025 R3 PanSTARRS (or CRP to its friends) is visible just after sunset - if you’ve got a good set of binoculars and you’re not in the middle of the city, you’re a chance to see its blueish green shape in the sky. And just to spoil us, there’s a second full moon on its way on 31 May - which is known as a blue moon. It’s a rare treat…

Apropos of Nothing

Conservationists in Zambia are taking care of orphaned baby elephants and helping to return them to the wild once they’re old enough. We think we’ve found our new career calling…

Even after the Met Gala was done and dusted, our socials were still lighting up with photos - but it was these fun takes from the CSIRO, Delicious, and Streets that stole the show…

Not content with just an Oscar nomination this year, Aussie actor Rose Byrne has now picked up a Tony Award theatre nomination for her role in Noël Coward’s comedy Fallen Angels. She’s having some kind of a year…

Squiz the Day

9.00am (AEST) - Forbes Australia Women's Summit. Speakers include the President of BHP Australia, Geraldine Slattery, CBA Executive General Manager Susie Grehl and eSafety Commissioner Julie Inman Grant - Sydney 

12.00pm (AEST) - Victorian State Budget lunch with state Treasurer Jaclyn Symes in partnership with the Victorian Chamber of Commerce and Melbourne Press Club - Melbourne

12.30pm (AEST) - CEO of Lynas Rare Earths Amanda Lacaze to address the National Press Club on “An historical perspective on the slow awakening of the West to the importance of the rare earths industry and challenges for governments today” - Canberra 

8.00pm (AEST) - Boxing: Australian boxer Nikita Tszyu v Spain's undefeated Oscar Diaz, Newcastle Entertainment Centre - Newcastle, watch on Kayo 

ABS data release: selected living cost indexes, March 2026

48th ASEAN Leaders' Summit - Philippines (until 8 May)

International No Diet Day

🤓 No Homework Day

Birthdays for former UK PM Tony Blair (1953), actor George Clooney (1961) and Prince Archie (2019)

Anniversary of:

• George V being made King of Great Britain after the death of his father Edward VII (1910)

• the Jackson 5 and the Bee Gees being inducted into the Rock & Roll Hall of Fame (1997)

• the founding of SpaceX by Elon Musk (2002)

• King Charles III and Queen Consort Camilla being crowned in the first coronation service in the UK in 70 years (2023)