Market dynamics have influenced deposit interest rates. The deposit interest offers from banks are on the rise. Here is the latest situation on deposit interest rates…Following the market’s activity, the tide turned in deposit interest rates. The deposit interest rates, which turned downward with the Central Bank’s interest rate cuts, started to rise due to the measures taken by the economic management. The interest rates applied to deposits by banks have exceeded the policy rate of 42.5 percent. Short-term deposit rates have risen back to the range of 45-48 percent. Last week, the interest rate for 32-day deposits was applied at 42.5 percent. The CBRT had increased the overnight borrowing rate by 2 points to 46 percent to support the Turkish Lira. Additionally, according to a report on Bloomberg, it is noted that the economic management is reconsidering a reduction in withholding tax on deposits. RETURN ON 100 THOUSAND LIRA Deposit amount: 100 thousand lira Deposit rate: 48 percent Deposit term: 32 days End of term return: 3,577 lira RETURN ON 1 MILLION LIRA Deposit amount: 1 million lira Deposit rate: 48 percent Deposit term: 32 days End of term return: 35,770 lira