Striking inside information from Şenol Babuşçu regarding deposit interest rates

With the change in economic management, the Central Bank began interest rate hikes in June. The interest rate has been raised by a total of 31.5 points in the last 6 meetings.

The increase in interest rates is also reflected in the deposit interest rates of banks. 

According to Central Bank data, the average interest rate on deposits with a maturity of up to 1 month was 40.77 percent last week. 

An interest rate of 49.33 percent was offered for deposits with a maturity of 1-3 months, 48.87 percent for up to 6 months, and 45.12 percent for up to 1 year. 

STRIKING INSIDE INFORMATION FROM BABUŞÇU

Prof. Dr. Şenol Babuşçu, Head of the Department of International Finance and Banking at Başkent University, shared new inside information on his social media account regarding deposit interest rates, which have shown significant increases in a short period of time. 

Sharing details about the meeting held by Central Bank Governor Hafize Gaye Erkan with bank general managers, Babuşçu stated that Erkan said at this meeting that deposit interest rates should increase even further.

Here is that post:

It is being discussed in the corridors that the Central Bank Governor said at the meeting with bank general managers that deposit interest rates should increase even further.