In the Philippines, the central bank redefined real estate activities to lessen the bank’s exposure to the sector. In Indonesia, a more stringent rule on down payments was announced in mid-2012 to slow credit growth for the purchase of housing and automobiles. Similarly in Malaysia, asset price build-ups in certain sectors have been dealt with by using macroprudential measures rather than changes in the policy rate. In this regard, low interest rates helped not only to sustain the growth of bank loans but also to slow potential capital inflows.