According to Jin10, Barclays economist Brian Tan said in a report that although the Philippines' September CPI rose unexpectedly more than expected, the Philippine central bank is unlikely to raise its policy rate by 50 basis points later this month. The Philippines' overall CPI rose 7.2% year on year in September, up from 6.1% in August. Tan said the Philippine central bank remains hawkish, but concerns about weak domestic growth prospects will prompt policymakers to avoid a large rate hike. Philippine second-quarter GDP growth slowed to 2.3% from 2.8% in the first quarter. Barclays kept its previous forecast, expecting the Philippine central bank to raise rates by 25 basis points in October and to add another 25-basis-point hike in December to its latest outlook.