Squiz Today – Tuesday, 7 May

SQUIZ SAYINGS

“Listen, if you haven’t figured it out by now - maybe you never will!”

Says Vogue of its Met Gala theme - ‘Camp'. Hint: It's "in hand with pastiche, theatricality, and irony". Ah-ha… The red carpet for the fashion world's Oscars kicks off at 8am (AEST).

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IT’S A BOY

THE SQUIZ
Prince Harry and Meghan Markle have welcomed their first child into the world. Weighing 7lbs 3oz (3.2kg), the as yet unnamed child was born at 5.26am their time (2.26pm AEST). There are no details yet about where exactly the baby was born, but it was in Windsor and speculation leading up to the birth was the Duchess of Sussex preferred to have a home birth (just like the Queen did with all her four children). Other things to note: Baby Sussex is a US dual-citizen, the Queen's eighth great-grandchild, and he pushes Prince Andrew down the line of succession to become seventh in line to the throne. 

WELL, THAT’S NICE
It is, and Prince Harry was chuffed. "As every father and parent will ever say, you know, your baby is absolutely amazing, but this little thing is absolutely to-die-for, so I'm just over the moon," he said. Asked about attending the birth, he said; "I haven't been at many births. This is definitely my first birth. It was amazing, absolutely incredible, and, as I said, I'm so incredibly proud of my wife.” He added; "How any woman does what they do is beyond comprehension." Amen.

WHAT HAPPENS NEXT?
There won’t be a Kate Middleton-style mum and new baby picture opportunity within 24 hours of the birth. That’s something the couple were said to be keen to avoid so they could spend time as a family (including with Meghan’s mother Doria Ragland) immediately after the birth. The British media are reporting there will be a controlled media event tomorrow with just one photographer, one camera and one journo at Windsor Castle. For now, it’s a full-time job keeping track of the good wishes…

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SQUIZ THE REST

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TO CUT OR NOT TO CUT?

That is the question - up until the Reserve Bank’s decision on interest rates is announced at 2.30pm (AEST) today. Any cut to the 1.5% official cash rate would take it to a new all-time low. And sensitivities are heightened because you might have noticed, we're in the middle of an election campaign. Why is this a thing? Well:

• Our rate of inflation is low, and that's a problem because, like a car that's in pretty good nick but has a clunking noise coming from the engine, it's a sign of some issues in our economy. What's been keeping the Reserve Bank at bay is our low unemployment rate and record jobs growth - a good economic sign.

• Our lack of growth in prices and wages can make it harder for us to pay off debt. And it can lead to putting off making decisions to spend and invest. That's bad for economic growth (which has also slowed).

• So the idea is a cut to interest rates will get us spending and investing.

Pundits say there’s close to a 50:50 chance of a rate cut. All we know is it will be a big issue on the election campaign trail today.

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WORLD’S NATURAL ENVIRONMENT AT RISK

A big new United Nations report has been released saying a million species of plants and animals are at risk of extinction. And it’s our quest for food, fibre and energy that’s behind it. The report says the global population has doubled since 1970; the urban land area has doubled since 1992; and pollution from plastics has increased tenfold since 1980. That and many other factors have led to the threatening of 25% of out plants and animals. “These trends can be halted, the study says, but it will take "transformative change" in every aspect of how humans interact with nature,” reports the BBC.

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QUICK WORLD NEWS WRAP

BALI PEACE PARK SITE OFFERED UP - A lengthy meeting between the owners of the former Sari Club site in Bali and advocates for a Peace Park to commemorate the victims of the 2002 bombing did bring about something of a breakthrough… The owners are offering to sell it to the Peace Park Association for $4.9 million. The deal hasn't been finalised, and the Association said it's not optimistic of raising the funds.

BRUNEI BACKS DOWN - It looks like the international celebrity pressure piled on by the likes of George Clooney, Ellen DeGeneres and Elton John has worked. Brunei's Sultan Hassanal Bolkiah has extended a moratorium on the death penalty by stoning for gay sex and adultery. The death penalty hasn't been applied under common law in Brunei, and the Sultan says that approach will be extended to cases under the new sharia-influenced laws.

AMERICA TROUBLED BY IRAN - Although National Security Adviser John Bolton isn’t saying exactly what it is about Iran that’s got America’s goat, but the US is sending an aircraft carrier and a bomber task force to the area to send a message. “The United States is not seeking war with the Iranian regime, but we are fully prepared to respond to any attack, whether by proxy, the Islamic Revolutionary Guard Corps, or regular Iranian forces.” Yikes...

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TELE APPEALS RUSH VERDICT

The media company will appeal last month's court verdict that Sydney's Daily Telegraph defamed actor Geoffrey Rush. As a reminder, Justice Michael Wigney found the Tele failed to prove claims that Rush harassed former colleague Eryn Jean Norvill were true. The Tele's lawyers say there are 16 grounds of appeal, including that Justice Wigney appeared to be biased. Rush won the case and was awarded $850,000 in initial damages. The final compensation figure is likely to be higher and is due to be revealed this week.

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BACKPACKS ARE BACK

We thought our elevation into Dagsville was complete when we ditched our handbag and bought a backpack a couple of months ago. It turns out it’s a thing…

SQUIZ THE DAY

2.30pm (AEST) - Reserve Bank’s decision on interest rates announced

ABS Data Release - International Trade in Goods and Services, March; Retail Trade, March

World Asthma Day

International Tell Your Crush Day

Anniversary of the birthday of Eva Peron (1919)

Anniversary of the launch of the Honda Accord (1976)