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Location: Investing.com - The Kiwi fell on a rate cut by the central bank with the prospect of more to come in a busy Asian data day with Chinese prices due and later on in Europe a rate announcement from the ECB. NZD/USD traded at 0.6634, down 0.27%. Elsewhere, AUD/USD changed hands at 0.7472, down 0.16%, while USD/JPY changed hands at 113.32, down 0.02%. The Reserve Bank of New Zealand Thursday cut the official cash rate 25 basis points to 2.25%, and signaled further easing may be needed to ensure future inflation settles near the middle of the target range. At the OCR review which was also accompanied by a full quarterly Monetary Policy Statement, the signaled more easing may be required with the 90-day bill track suggesting a projection of one more 25 basis points cut. "Further policy easing may be required to ensure that future average inflation settles near the middle of the target range. We will continue to watch closely the emerging flow of economic data," the RBNZ said. "Today’s 0.25% cut in interest rates in New Zealand, to 2.25% from 2.50%, will have been a surprise to most analysts and the financial markets," Capital Economic said in a note to clients. "But as early as July last year we forecast that rates would be cut to 2.0% this year and in the RBNZ Watch we published a week ago we said “there’s a real chance it [the RBNZ] will surprise the market and cut interest rates by 0.25% at the policy meeting on Thursday 10th March”. Interest rates will soon be cut to 2.0% and there’s a real possibility that they will fall below 2.0%." In Japan, CGPI data is due with a 0.3% drop seen in February month-on-month and a year-on-year decline of 3.4%.