4Īfter years of near-zero deposit rates, many banks were compelled to offer higher rates as the recent fed funds rate hike cycle kicked in.
In fact, recent Deloitte research shows that savings intentions have become stronger, suggesting consumers are focused on replenishing depleted savings.
Even as fears around banks’ stability seems to have subsided and overall deposit outflows have declined, 3customer demand for higher deposit rates is expected to remain elevated, possibly for a long time.
