Türkiye Cumhuriyet Merkez Bankasi on Dec. 20 maintained its short-term interest rates, keeping its one-week repo rate at 8%.

It also left the 8.5% overnight lending rate and the 7.25% overnight borrowing rate unchanged.

The central bank's monetary policy committee noted that economic activity decelerated in the third quarter, before posting a partial recovery for the final quarter. The recovery in economic activity is expected to continue at a moderate pace.