Let [B0,B1] be a complex
interpolation pair and T : B0+ B1→ B0+ B1 be a linear map whose restriction to
each interpolation space [B0,B1]s is a bounded operator on that space with
spectrum SpsT. Under mild conditions on T it is shown that the set-valued map
λ →Sp(Reλ)T is an analytic multivalued function. This fact is used to unify and
generalise a number of previously known results about the spectrum of an
interpolated operator, and also to motivate some new ones.