SBS On the Money

Telstra posts a $2.4 Billlion dollar annual profit, and docks CEO Vicky Brady $607,000 over July's nationwide outage; More CBA profit-taking; Federal and NSW governments split a $2.5 Billion bailout of Tomago aluminium smelter; Mathan Somasundaram, CEO of Deep Data Analytics, gives his take on the day, speaking to Rena Sarumpaet.

Australia's biggest home lender, Commonwealth Bank, has beaten forecasts with a near $11 billion dollar annual profit. At the same time it warns of how cost-of-living pressures, a slowing Australian economy and global uncertainties are starting to show up in its loan book. Stephanie Youssef speaks to Francesco De Stradis, Investment Advisor at Ord Minnett.

Home borrowers are breathing another sigh of relief, as the Reserve Bank leaves the cash rate at 4.35% for a second consecutive meeting. But a hawkish RBA Governor Michele Bullock makes no bones about the Board's willingness to hike again, to control "still too high" inflation. Rena Sarumpaet speaks to Ebury economist Anthony Malouf. Then Stephanie Youssef gets the views of MIke Jenneke of UBS Global Wealth Management.

A jolt for banking investors, as Westpac flagged a 20-percent drop in Q3 mortgage applications, blaming the combined effects of three interest rate rises this year, and Federal Budget tax changes. Westpac shares slid nearly 6 per cent. David Scutt of StoneX Group tells Rena Sarumpaet, that should CBA offer similar disappointment in Wednesday's annual result, the best days of the month long banking rally may be past.

Ongoing hopes of a US-Iran deal to re-open the Strait of Hormuz have sent the ASX to a second consecutive closing high. The S&P/ASX 200 added 43.8 points, or 0.5%, for a close of 9271.6. Rena Sarumpaet spoke to Hugh Lam, Investment Strategist at Betashares, on a corporate reporting season just heating up, and broader market gains.