A review of things you need to know before you go home on Friday. Wellingtonians the most confident about the economy, Aucklanders verging on pessimistic, NZ King Salmon announces share price, Warehouse profit up, Hallenstein profit down.

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

TODAY'S MORTGAGE RATE CHANGES
There were no mortgage rate changes today.

TODAY'S DEPOSIT RATE CHANGES
ANZ increased its 240 day term deposit interest rate by 10 basis points to 3.60%.

WELLINGTONIANS THE MOST CONFIDENT
Wellington is the most confident region in the country as rising house prices in the capital lift its mood, according to the Latest Westpac McDermott Miller Regional Economic Confidence Survey. The survey also found that confidence had lifted in regions where dairying was prominent such as Southland, Taranaki and Manawatu. However confidence dropped in Auckland making it the second least confident region in the country with only Northland being less confident.

NEW ZEALAND KING SALMON ANNOUNCES $1.12 SHARE PRICE FOR IPO 
New Zealand King Salmon will offer shares at $1.12 each in an Initial Public Offering that will see it listed on the NZX and ASX next month.The Nelson-based company will offer up to 69.2 million shares, raising $30 million of new capital with another $45 million going to cornerstone shareholder Direct Capital which will exit the business.  

VERITAS FORECASTS REVENUE DROP 
Veritas Investments said it expects revenue to fall in 2017 as a result of declining sales at its Mad Butcher stores. It expects revenue to be between $50 million and $55 million in the year to June 2017 compared to $56.5 million last year, with Mad Butcher sales expected to fall to $7-8 million compared to $9.8 million last year. Sales at its Better Bar Company operation were also expected to be down while sales from its Nosh outlets were expected to be flat.

RESERVE BANK PROPOSES "DASHBOARD" REPORTING FOR BANKS
The Reserve Bank has proposed publishing quarterly information from locally incorporated banks on its website in a standardised and easily comparable manner referred to as Dashboard reporting. This would replace the requirement for banks to prepare off-quarter disclosure statements, but they would still need to produce full year and half year disclosure statements. "The Dashboard will enhance market discipline by bringing key information about different banks together in one place and presenting that information in a standardised manner," the Reserve Bank said. Information for the Dashboard will largely be drawn from information the banks report privately to the Reserve Bank, keeping their compliance costs to a minimum.

WAREHOUSE GROUP POSTS STRONGER RESULT
The Warehouse Group announced pre-tax profit of $106.3m for the year July 31, up 49.1% compared to the previous year. That was on the back a 6.1% increase in revenue to $2.945 billion. The company said all of its retail chains' profit growth with its Warehouse and Warehouse Stationery chains posting a consistent performance and Noel Leeming and Torpedo 7 showing strong improvements. 

HALLENSTEIN GLASSON SALES UP, PROFIT DOWN
Hallenstein Glasson Holdings achieved sales of $223.51 million for the year to August 1, up 0.9% compared to the previous 12 months. But audited net profit was down 21.3% to to $13.679m. The company said a lower exchange rate had eroded margins and mild temperatures in early winter had adversely affected sales. Management difficulties at the Glassons chain prior to the appointment of new CEO Di Humphries in April had also affected the chain's performance.

WHOLESALE RATES FALL
Bond and swap yields continued to fall in the wake of the RBNZ message that further easing was likely. NZ government bond yields opened sharply lower while swap rates were down approximately 2 basis points across the curve. Demand for the latest government bond tender saw $811 million of bids received for the $150 million on offer. The average weighted accepted yield rose from 2.56% (July auction) to 2.75%. There has been constant demand for our relatively high yielding debt and the government bond tenders over the last month or so have been well supported.

NZ DOLLAR DOWN
The NZD has been in a downward trend since very early this morning. There have been a few stages to the decline with patches of consolidation thrown in between the sell-offs. The largest downward movement occurred this afternoon as Australian and Asian markets came online. Many Asian stock markets were lower on opening and many of the Asia-Pacific currencies are weaker against the US dollar. After trading most of the day in the 73 to 73.2 cents range, sellers managed to push the NZD/USD down to 72.9. Check our real-time charts here.

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