VS2012, Qt5.4 and qtlogging.ini

I am trying to setup the qtlogging.ini file to setup the categorization rules in Qt. My application (Qt 5.4 and VS2012) is using various categories in the qcDebug|qcWarning etc messages and compiled in Debug mode. I created a qtlogging.ini files and put it into my application directory path\QtProject\qtlogging.ini with the following rules

Code:

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[Rules]
*.debug=true
pcwb.*=false
logger.*=true

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I have two test debug messages

Code:

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// Inside the .cpp file, but outside a function
Q_LOGGING_CATEGORY( pcwbMain, "pcwb.main" )
Q_LOGGING_CATEGORY( pcwbMainGui, "pcwb.main.gui" )
Q_LOGGING_CATEGORY( pcwbMainTest, "pcwb.main.test" )
 
// Inside the class constructor
qCDebug( pcwbMainGui, "Gui Test" );
qCDebug( pcwbMainTest, "PCWB Test Message" );

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I expect the pcwb categories to not print out, but both still do. Is there something I am missing with the whole QLoggingCategory setup? I feel like it is not finding the ini file at all despite the QStandardPaths::GenericConfigLocations returned include the directory containing the QtProject directory.

UPDATE 1: Explicitly setting the QT_LOGGING_CONF environment variable works, but I would prefer to have the logging.ini file in the application directory and always loaded from the same place.