Surging NZ CPI will prompt an "even more aggressive hiking cycle" from the RBNZ

The July - September New Zealand inflation data is here from a little earlier:

• New Zealand Q3 CPI 2.2% q/q (vs. expected 1.4% q/q)
• NZD higher after the surging inflation report

The implications for the Reserve Bank of New Zealand, this from Capital Economics via Reuters:

• "We had already expected the RBNZ to continue hiking rates despite the Auckland lockdown"
• "But the strength in consumer prices in Q3 will surely nudge the Bank towards an even more aggressive hiking cycle"