Central Bank governor Hector Valdez Albizu believes that the current lowest interest rates on record will foster economic growth. This statement was made during Valdez’s participation in a televised meeting with President Leonel Fernandez for the new Agenda Presidencial Sunday TV program, as reported in Clave Digital. Valdez said that the current passive interest rate is around 7%. This is the return paid by banks on their clients’ deposits. The active interest rate, for loans, is near 15%, but he warned that these could be lower as soon as next week. He attributes the new interest rates to the government’s monetary policy. The Central Bank, which paid interest rates exceeding 50% on deposits during the last government administration, has dramatically decreased its rates to an average of 13%. This rate is used as a reference point by private financial institutions.