A review of things you need to know before you go home on Friday; Consumer confidence up, Kathmandu forecasts flat result, PM John Key heads to South America, Kiwi dollar down, higher mortgage interest rates looking more likely

Here are the key things you need to know before you leave work today.

MORTGAGE RATE CHANGES
There were no mortgage rate changes today.

DEPOSIT RATE CHANGES
Kiwibond (NZ Debt Management Office) reduced its 6 and 12 month rates from 2.00% to 1.75%.

CONSUMER CONFIDENCE TURBO-CHARGED
The ANZ Roy Morgan Consumer Confidence Survey rose 4 points in November to its highest level since early last year. Confidence was up in all regions with Wellington at the front of the pack. However the survey was carried out prior to this week's earthquakes so it was too soon to say how they could effect confidence in the capital going forward. "Strong levels of confidence reflect an economy that is performing well. The labour market is strengthening and cost of living changes remain low, so every dollar earned goes further. Dairying is no longer facing the risks it was and home owners have had a decent wealth boost, though the housing market now looks to be slowing," ANZ chief economist Cameron Bagrie said.

MORE ASB NOTES
ASB announced that it's increasing the size of the subordinated unsecured convertible note issue the bank detailed on November 3 by $25 million to $400 million.

KATHMANDU FORECASTS FLAT PROFIT - SHARES DROP
Shares in Kathmandu Holdings dropped to their lowest level in three months after the company announced it expected first half profit to match the same period last year. The company said sales in the first 15 weeks of its financial year had been affected by the strengthening US dollar and the closure of stores in the UK. 

MOTOR TRADE FINANCE PROFIT DOWN 2.3%
Vehicle financier Motor Trade Finance reported underlying profit after tax of $7.9 million for the year to September, down 2.3% compared to the previous year. The company said the car lending market remained very competitive and its market share for the year was 11.6%, compared to 11.9% for the previous year.

PM JOHN KEY JETTING OFF TO PERU
The Prime Minister is heading to Peru today to attend the Asia Pacific Economic Cooperation leaders meeting in Lima, after initially delaying his trip because of the earthquakes that affected Kaikoura and Wellington. 

GOVERNMENT ANNOUNCES $5 MILLION SUPPORT PACKAGE FOR EARTHQUAKE AFFECTED FARMERS
The government is making at least $5 million available for earthquake affected farmers, fishers, growers and the wine industry. The bulk of the money ($4m) will go to Mayoral Disaster Rural Relief Funds in Hurunui, Kaikoura and Marlborough to help reinstate non-insurable assets such as tracks, farm bridges, and water infrastructure.

STATISTICS NZ WEBSITE STILL DOWN
Statistics NZ's website remained down today (Friday) after the organisation was unable to re-enter its earthquake damaged headquarters in central Wellington. 

SWAP RATES ROCKET HIGHER
The NZ swap rate curve continues to steepen with some substantial yield rises in the 5-10 year space. The short end of the curve remains reasonably well contained for now. NZ banks use the swap market as a pricing guide for their mortgage rate offers. With the swap rates heading north it would be fair to expect higher mortgage rates over the coming weeks, assuming the trend continues. The US benchmark Treasury yield went from 2.20% to 2.33% overnight. Bucking the trend were domestic government bonds which opened the day lower by between 3-6 basis points. Ninety day bank bills have remained unchanged for the past couple of days at 2.05%.

KIWI DOLLAR OUT OF FAVOUR 
The NZ dollar sell off continues. It continues to trend lower and sits at just about US70c where there is some technical support. The moves are more about US dollar strength than anything else. Bets on an interest rate rise from the US Federal Reserve next month have cemented the greenback's dominance. Janet Yellen has not quelled expectations that a rise in US interest rates will finally be delivered in December. Check our real-time charts here.

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