Offshore banking investment popular as 'base rate will not change'?

Offshore banking investment may be a popular choice for those with private wealth, as one expert has predicted the base rate will not change "for a long time".

Michael Baxter, editor of InvestmentandBusinessNews.co.uk, claims the current 0.5 per cent level is unlikely to alter in the near future, which suggests alternative wealth management strategies - such as offshore banking investment - could be more attractive than ever.

He argues quantitative easing (QE) measures will only be effective if the Bank of England "starts spreading the net" beyond buying only government bonds.

Corporate banking may benefit from this, as the wealth management specialist advises buying securities from financial services providers "more advertently geared towards lending [for] business".

Last week's gross domestic product data showed the economy expanded 0.8 per cent in the three months to September 30th.

The strong result suggests the bank will hold off QE easing measures in the hope British industries will be strong enough to drive the economy without fiscal assistance.  ADNFCR-2318-ID-800208598-ADNFCR