The Bangko Sentral kept interest rates at record lows but tightened control on bank lending. The BSP raised banks' reserve requirements or the percentage of deposits banks cannot lend to 20 percent from 19 percent. Reducing the amount of money banks can lend has many of the same effects as the BSP raising its interest rates but it doesn't cost the BSP anything. Mornings@ANC, May 9, 2014