There are so many potential motives behind upticks in cash withdrawal and deposit. Its difficult to pinpoint a prime mover or single cause.

Greater cash deposit could be one indication that more side jobs and freelancing gigs are being taken on in response to rising inflation. There could also be greater transaction volume in second hand markets. More garage and bake sales. Which could be another reactionary movement to inflation.

Greater cash withdrawal could be linked to concerns of electronic payment outage. Recent bank runs abroad. Consumers needing more cash on hand to cover rising prices due to inflation.

I would be interested to know the real reasons behind these trends.