Hi there. It's Wednesday, May 4 …
… and you're reading The Loop, a quick wrap-up of today's news.
Let's start here
The Commonwealth Bank, ANZ and Westpac all say they will increase mortgage interest rates, matching the Reserve Bank's 25-basis-point increase that was announced yesterday.
CBA and ANZ are set to pass on the cash rate lift in full to variable borrowers while Westpac says it will also pass on the full increase to certain deposit accounts.
However, both CBA and ANZ haven't announced any changes for savers, and RateCity research director Sally Tindall says that's "a worrying sign".
"It could signal the bank may not pass on this hike in full to its millions of savings customers," she says.
NAB just announced its decision this morning, saying it will join the other three big banks in passing on the Reserve Bank's 25 basis point interest rate rise in full.
Something you'll be hearing about today
Protests are continuing in the US after a leaked document was published by Politico suggesting the US Supreme Court could soon vote to overturn a landmark ruling that grants Americans the constitutional right to an abortion.
In a move that is unprecedented in the Supreme Court's modern history, a secret draft ruling written by one of the judges was leaked — and if few or no amendments are made to that draft and it becomes the majority opinion, the effect on abortion access in the US will be swift and dramatic.
The document, published by Politico, suggests five of the nine judges on the bench privately voted to strike down a 49-year-old decision that makes abortion legal at a national level.
The document, current law and what could happen next are all explained here — but there will be more to come on this, so stay tuned.
News while you snoozed
- Ukrainian authorities say Russian forces have stormed the Azovstal steelworks in Mariupol where at least 200 civilians remain. The move comes almost two weeks after Russian President Vladimir Putin ordered his military not to storm the plant, but rather block it off.
- The Kid LAROI was named Songwriter of the Year at last night's APRA Awards, adding to the teenager's impressive list of accolades, which includes Grammy nominations, a NIMA and two ARIAs to name a few. The Kamilaroi artist also picked up Peer-Voted Song of the Year and Most Performed Hip Hop/Rap Work, with artists like Tones And I, Genesis Owusu and The Wiggles also picking up awards.
- The US government has determined that WNBA star Brittney Griner is being wrongfully detained in Russia, with officials now saying it will more aggressively work to secure her release even as the legal case against her plays out. Ms Griner was detained at a Russian airport in February but officials had stopped short of classifying the Phoenix Mercury player as wrongfully detained until now.
What Australia has been searching for online
- Priscilla Presley. In case you missed it, the 76-year-old was at the Met Gala yesterday and had good words to say for the long-awaited Baz Luhrmann film Elvis, starring Austin Butler as her late husband.
- Liz Cambage. The Aussie basketballer is about to begin the WNBA season with her new team, the Los Angeles Sparks, and told the ABC yesterday that she now feels "protected on a level that the Opals or the Australian team never gave to me".
You're up to date
Thanks for reading.
The Loop will be back later on today for another quick look at the headlines.
ABC/wires
