Rise in returns on euro savings

The average return on euro offshore savings accounts increased by 0.39% between 22 March and 3 July, according to the Investec Private Bank's Euro Offshore Savings index. This compares with a rise of 0.25% in the European Central Bank's (ECB) rate during this time period. Anna Malcolm, spokeswoman for Investec, said: "On 22 March 2006, the average return on the euro offshore savings accounts reviewed was 1.65% gross, which was 0.85% below the ECB rate of 2.5%. By 3 July 2006, the corresponding figures were 2.04% gross and 2.75%, which represented a significant closing of the gap between ...