A review of things you need to know before you go home on Monday; no-interest credit card, retailers bridle at card fees, Hisco's pay rise, visiting but not staying, swap rates jump, NZD holds

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

TODAY'S MORTGAGE RATE CHANGES
There were no rate changes announced today and none over the weekend.

TODAY'S DEPOSIT RATE CHANGES
There were no changes here either.

'NO INTEREST' CREDIT CARD
But there is a change we should have noted last week and will make up for that here. Westpac has launched a 'no interest on a new MasterCard credit card' plan. The promotion runs from 1 November until 31 March for all new cards signed up to before December 31. Existing Westpac customers who have a MasterCard can't qualify, but everyone else can. It applies to cards that 'earn' Airpoints Dollars or Hotpoints, or you can choose their Low Rate card. But it does not apply to their BusinessCard. It is not a 'balance transfer rate' as such - it applies to all purchases. You will still be expected to make the minimum payment, but they are hoping you will load it up in such a way that you can't pay it all off after March to avoid their interest charges.

RETAIL NZ SEEKS BETTER PAYMENTS DISCLOSURE
Retail NZ says research it commissioned by Covec shows NZ retailers and consumers "appear to pay substantially more" than retailers and consumers in the UK and Australia for credit and debit card transactions. Contactless debit card transactions cost merchants an average 1% in fees, while credit card transactions cost, on average, 1.4%, according to Retail NZ. In comparison EFTPOS transactions are free. Retail NZ wants a comprehensive information disclosure regime to be introduced so "everyone can understand the fees charged, and the total cost to the economy every year."

6.1% PAY RISE FOR DAVID HISCO TAKES HIM TO NZ$4.8M
ANZ NZ CEO David Hisco has received a A$257,073, or 6.1%, rise in his annual remuneration to A$4,465,851 (about NZ$4,807,655), according to the ANZ Group's annual report. A major factor in the increase was higher share based payments. 

STAYING IN CLOSE TOUCH
John Key is on the road again, this time to Viet Nam, the Philippines and Malaysia for a series of meetings aimed at "boosting New Zealand’s trade, political and security links in the region". The Asia-Pacific region is a significant driver of global economic growth with massive demand for New Zealand products - around 70% of our total trade now takes place with APEC economies alone.

COMINGS AND GOINGS
For the first time since September 2003, the number of New Zealand citizens moving to Australia permanently fell below 1000 in a month according to the September data released by the Australian statistics agency today. This same data release shows that visitor arrivals into Australia grew +10.4% pa in September with the largest number coming from New Zealand (121,000 or +6.9%) followed by China (76,600 or +23.9%).

IMPROVEMENT CONFIRMED
Silver Fern Farms today 'confirmed' a net tax-paid profit of $24.9 mln, up from break-even a year ago and a $30 mln loss the previous year. Net debt is down to $121 mln, down from $289 a year ago.

POLLUTION DISASTER
Air quality reached extremely hazardous levels in the northeastern Chinese city of Shenyang as northern China began to burn coal to heat homes for winter. Sunday data showed the density of the poisonous airborne particulate PM2.5 was more than 1,000 micrograms per m3. The World Health Organisation considers the safe level of PM 2.5 to be 25 micrograms per cubic meter on a 24-hour average basis.

WHOLESALE RATES JUMP
Local wholesale swap rates rose strongly today following Wall Street signals. They are up +4 to +8 bps in s strong steepening bias. But the 90 day bank bill rate slipped -1 bp, and now at 2.90%.

NZ DOLLAR HOLDS
Our currency has crept marginally higher again today from this morning, clawing back a minor amount that it lost to the greenback when it jumped following the strong US non-farm payrolls report on Saturday. It is now at 65.3 USc, at 92.8 AUc and 60.8 euro cents. The TWI-5 is at 71.6. Check our real-time charts here.

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