2215 GMT - New Zealand's NZX-50 slips 0.3% to 12762 in early trading, which puts the index on pace for its third consecutive weekly decline as market interest rates track higher. NZD/USD has traded as high as 0.7054 after a jump in inflation expectations in RBNZ's regular survey renewed speculation of a 50bp rate increase next week. Among stocks, Auckland International Airport falls 1.1% after being downgraded by Jefferies, which says eventual recovery in air travel is factored into the share price following its recent gains. Retirement-village operator Ryman Healthcare drops 1.0% after lowering its dividend payout range. Power utilities are weaker and a2 Milk, which is set to be removed from the MSCI New Zealand index, sheds 1.0%. (stephen.wright@wsj.com)