Here are the key things you need to know before you leave work today (or if you work from home, before you shutdown your laptop).

MORTGAGE RATE CHANGES
No changes to report today. All rates are here. And note, you can compare mortgage offers with our new calculator that takes into account other costs and cashback incentives, here.

TERM DEPOSIT/SAVINGS RATE CHANGES
There are no changes to report today here either. All updated term deposit rates less than 1 year are here, for 1-5 years, they are here.

INFLATION PRESSURE RISING BIGLY
Road freight companies and their customers currently pay Auckland Council owned Port of Auckland a booking fee of $130 per container at peak times (between 5am and 6pm) which will increase to $180 in 2026 (+38%). Port of Auckland has indicated that this fee will be rise to $350 by January 2027 (up another +94% for a total indicated rise over two years of +170%). Here is a summary of the current fees paid at the ports at Auckland, Tauranga, Napier and Lyttleton to pick up cargoes. These same ports charge the shipping lines to discharge the same cargoes, recovered in the freight rate.

RECORD PROFIT
ANZ NZ reported its annual profit rose +23% to $2.7 bln (see page 4), boosted by hedging gains, impairment write-backs and a higher net interest margin which rose to 2.60% (the highest in the ANZ Group). Its chief executive said the ‘stage set’ for economic recovery. This was part of the ANZ Group result that revealed profit of A$5.9 bln, down -10%. More here.

MOVING THE NEEDLE
The ANZ Investor presentation also featured how central it is for the bank to grow its lending directory, away from the broker channel. Specific targets have been set, in-branch hiring is underway. ANZ NZ moved its broker flow for home loan origination down from 61% in 2024 to 59% in 2025. But they remain a long way behind BNZ who have their down to 41%. Westpac is at 57% and rising. (Neither ASB nor Kiwibank disclose theirs, but ASB is thought to be over 80% and Kiwibank closer to 90% home loan broker flow, including NZHL for Kiwibank.)

MORE NEW STUFF II
Interest.co.nz has teamed up with Quashed to help you track insurance premium changes for car insurance. Here’s our new tool to help you wrestle with car insurance renewals. And today we launched our new quiz feature which will challenge your knowledge and memory. You can take it here.

WE ARE HIRING
We have an opening in Wellington for a full-time Press Gallery journalist who can help us explain the New Zealand economy to New Zealanders. 2026 is Election Year, so there will be a lot to cover. See this.

NZX50 MEANDERS
As at 3pm, the overall NZX50 index is now down -0.2% so far on Monday. That puts it +0.1% higher over the past five working days. It is up just a bit less than +3.9% year-to-date. From a year ago it is now up +7.0%. Market heavyweight F&P Healthcare has dipped -0.3% so far today. Kathmandu, Gentrack, Channel Infrastructure, and Fletcher edge higher as Kiwi Property, Stride, Precinct, and Argosy weigh on the NZX50 index.

STILL WILDLY POPULAR
The NZGB’s are popular. The RBNZ weekly turnover monitoring (D9) reports more than $70.5 bln was traded last week. That wasn’t a record (the $82.4 bln in the October 3, 2025 week was) but in the same week a year ago that level was $45.5 bln, so that shows how active this market has become. As yields decline, the capital price rises generating profit for the seller.

A NEW MAIN BANK BOND OFFER
Westpac has launched a 5 year AA- bond seeking to raise $100 mln plus “unlimited oversubscriptions at the borrowers discretion – which in the past for a major bank has been many times the stated amount sought. They say the indicative margin will be about 85 bps over the five year swap rate, which is currently about 3.04%, so a targeted yield of about 3.90%. This offer will end on Wednesday, November 12, 2025.

SWAP RATES HOLD
Wholesale swap rates are probably little-changed today especially at the short end. Keep an eye on our chart below which will record the final positions closer to 5pm. The 90 day bank bill rate was unchanged at 2.48% on Friday. Today, the Australian 10 year bond yield is up +4 bps at 4.39%. The China 10 year bond rate is up +5 bps at 1.81%. The NZ Government 10 year bond rate is up +2 bps at 4.14%. The RBNZ data is now all delayed with Friday’s rate is down -5 bps to 4.08%. The UST 10yr yield is up +4 bps at 4.13%.

EQUITIES MIXED
The local equity market is little-changed in Monday trade so far. The ASX200 is up +0.7% in afternoon trade. Tokyo has risen +0.9% at its open. Hong Kong is up +0.4% at its open. Shanghai is down -0.1%. Singapore is down -0.6% at its open. Wall Street futures trade suggests the S&P500 might open tomorrow up +1.0%, on the US government shutdown news.

OIL LITTLE-CHANGED
The oil price in the US is little-changed at just on US$60/bbl and the international Brent price is still just under US$64/bbl.

CARBON PRICE FALLS HARD
There have been trades today but they have fallen sharply to just $44/NZU. So Frisday’s indication was not the outlier we thought it might be. It was last at this level, briefly, on May 2024, and prior to that July 2023. The next official carbon auction is on December 3, 2025 and likely heading for another failure. See our daily chart tracker of the NZU price for carbon, courtesy of emsTradepoint.

GOLD FIRMER
In early Asian trade, gold is up +US$44 from this morning, now at US$4043/oz.

NZD LITTLE-CHANGED
The Kiwi dollar is unchanged from this morning at just on 56.3 USc. Against the Aussie we are down -20 bps at 86.4 AUc. Against the euro we are unchanged at 48.7 euro cents. This all means the TWI-5 is unchanged at 60.8.

BITCOIN RISES
The bitcoin price is now at US$105,738 and up +2.0% from this morning. Volatility has been moderate at just over +/- 2.3%.

Select chart tabs

US$
AU$
TWI-5
Â¥en
Â¥uan
€uro
GBP
Bitcoin

Select chart tabs

1 year %
2 years %
3 years %
4 years %
5 years %
7 years %
10 years %

This soil moisture chart is animated here.

Keep abreast of upcoming events by following our Economic Calendar here ».