The quarterly consumer inflation data from New Zealand released earlier today showed an increase of 0.30% for the last quarter. The data beat analyst consensus estimates which expected the consumer prices index to rise 0.20% over the quarter. On an annualized basis, inflation was up to 0.40% by the end of the third quarter, highlighting the relative successese of monetary policy in stemming the slide in inflation. While the Kiwi dollar initially managed to post some gains, the currency declined as investors start to focus on another prospective cut to the benchmark interest rate from the Reserve Bank of New Zealand largely on account of the exchange rate's appreciation in recent weeks. Analysts expect to see at least one more rate cut from the RBNZ by the end of this year just as the NZDUSD pair is trading near a 15-week high.