Westpac Half-Year Profit Rose by 8%

The video discusses Westpac's earnings report, highlighting an 8% increase in the second half, resulting in a full-year profit of $7.62 billion. The bank's success is attributed to controlled costs, reduced bad debt charges, and strong mortgage lending, driven by low interest rates and a hot housing market. Westpac's CEO anticipates continued growth in housing credit and business lending. Shareholders receive a 92 cent dividend, with shares slightly up. The video also covers Australia's inflation figures, noting a 0.2% rise in October, driven by automotive fuel prices, despite falling oil prices. Inflation remains within the RBA's target range, unlikely to impact the cash rate decision.

What was the inflation rate in Australia for October?

What are the key drivers behind the increase in inflation?