Investec reveals offshore savings rate gap

The index reveals that between 31 October 2006 and 31 January 2007 the average return on these accounts increased by 0.26% compared to a rise in the ECB rate of 25 basis points. On 31 October 2006 the average return on the euro offshore savings accounts reviewed was 2.36% gross interest which was 0.89% below the ECB rate of 3.25%. By 31 January 2007, the corresponding figures were 2.61% gross interest and 3.50%, a difference of 0.89%.