This time yesterday, we were wondering if a Melbourne Cup Day rate rise was likely given the risk of persistently high inflation.

Well those fears were confirmed when quarterly inflation came in higher than expected .. hours after Reserve Bank governor Michele Bullock said she wouldn't tolerate the risk of an outbreak.

But in addition to Melbourne Cup Day .. could there also be a followup in December?

Also corporate regulator ASIC to run cinema ad ahead of Dumb Money warning if investment risk.

A Melbourne Cup Day interest rate rise is looking more likely after official inflation data came in slightly hotter-than-expected in the most recent quarter. The Consumer Price Index jumped by 1.2 percent in the September quarter making 5.4 percent over the year in the latest sign that inflation remains stubborn and risks rebounding. Analysis from ABC's Peter Ryan.

For more I'm joined now by the ABC's senior business correspondent

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Michele Bullock, Reserve Bank governor

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If you thought the new Reserve Bank governor was about to ease off in the fight against inflation - perhaps it's time to think again.

With key inflation numbers out later this morning expected to be hotter than expected, Michele Bullock has made it clear she has "zero tolerence" to hold back on rate rises if inflation remains high.

The ABC's senior business corresopondent Peter Ryan listened to Ms Bullock's first official speech since taking the reins.

A Melbourne Cup day interest rate rises remains a "live possibility" with new Reserve Bank governor Michele Bullock warning she'll do whatever it takes to tame inflation. While a 13th interest hike is far from locked in next month, Ms Bullock says that if inflation looks like becoming entrenched the RBA board will need to push the rates button once again.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Michele Bullock, Reserve Bank governor

At the moment it's still a long shot .. but bets are rising for another interest rate rise on Melbourne Cup Day.

That would make the 13th hike since May last year .. adding to the stresses on household budgets hurting badly from the Reserve Bank's battle to tame inflation.

Ordinary Australians continue to be hit by the rising cost of living.

But it's a lot worse for Pacific Island workers who are being slugged with big fees to send money back home to their families.

A paper out this morning from the Lowy Institute warns urgent action is needed to cut the costs of these overseas transfers given the reliance of families back home for life's essentials.

The "blame game" is well and truly underway as senate hearings into the tax leak scandal at the consulting giant PWC reveal a firm in deep damage control.

But is that damage control working?

It's getting tougher as current and former PWC bosses copped intense grillings about the breach of confidential information where the firm developed a "work around" of plans for a multinational tax avoidance crackdown back in 2015.

Former PwC Australia chief executive Luke Sayer tells a senate inquiry he was unaware of confidentiality breaches over multinational tax avoidance that triggered a scandal earlier this year. But Mr Sayers has apologised for the breaches conceding they happened on his watch as CEO. Earlier, new CEO Kevin Burrowes named Mr Sayers and another former CEO Tom Seymour when grilled about "failures of leadership" at PwC.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Deborah O'Neill, Labor senator; Kevin Burrowes, PwC Australia CEO; Luke Sayers, former PwC CEO.

It was a horror ride on the sharemarket yesterday for Bank of Queensland after its full year profit plunged by a massive 70 percent with signs of stress emerging in its mortgage business.

The regional bank has also been plagued by reputational problems after its high-flying chief executive George Frazis suddenly left the company late last year.

I speak with former chair Patrick Allaway who's now the new CEO.

After weeks of pressure, Qantas chairman Richard Goyder has announced he'll step down and leave the airline some time next year. The decision follows growing anger from Qantas customers and shareholder groups demanding his retirement and greater accountability for members of the Qantas board. Mr Goyder's pending departure comes amid allegations that Qantas sold tickets for flights that didn't exist and a High Court ruling that the airline unlawfully sacked 17-hundred ground workers at the height of the pandemic.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Richard Goyder, Qantas chairman; Rachel Waterhouse, Australian Shareholders Association

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