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Isa accounts are slightly better with 23 out of 229 accounts offering rates that beat CPI.
The newly opened Hotel Cosmo off Union Square is offering rates beginning at $85 a night this fall.
He said: "While we sympathise with savers, it is not sustainable to continue offering rates significantly higher than our competitors.
Many of the high street banks, including HSBC and Barclays, are offering rates of 4.9%, but only for existing customers.
This often resulted in banks offering rates for deposits that were far higher than were justified by loan demand.
State banks had been offering rates of 14%, while those in the private sector ranged from 17%to28%8%.
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Analysts from Merrill Lynch and Morgan Stanley, which also underwrote the offering, rated the stock a midterm buy and an equal-weight, respectively.
Ski.com, which negotiates discounts with resorts, is offering rate reductions as deep as 50percentt for lodging in Steamboat Springs, Colo., over the Christmas and New Year's holidays.
Priced at 99.90, the notes float and pay interest quarterly at 25 basis points above the three-month London interbank offering rate.
Other utilities including Green Mountain Power and Central Vermont Public Service followed suit by offering rate structures and promotional programs intended to accelerate adoption of these technologies.
The London Interbank Offering Rate (LIBOR) has for most of my adult life been the world's most important private interest rate.
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