Euro offshore savings rate gap with ECB

A gap of 0.89% between the returns on European offshore savings accounts and the European Central Bank (ECB) rate has been identified in Investec Private Bank's Euro Offshore Savings Index. 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 a...