current account

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Related to Current account deficit: Capital account deficit, Fiscal Deficit

Current account

Net flow of goods, services, and unilateral transactions (gifts) between countries.

Checking Account

An account at a bank in which a customer deposits money for immediate use. For example, one may utilize a checking account for one's monthly expenses, such as a mortgage payment or groceries. Because most customers keep money in a checking account for a shorter period than in a savings account, a current account pays a slightly lower interest rate. Typically, one can write a check or use a debt card on a checking account, and banks expect customers to do so. The term "checking account" is more common in the United States. In the United Kingdom, the common term is "current account."

current account

  1. an individual's or company's account kept at a COMMERCIAL BANK or BUILDING SOCIETY into which the customer can deposit cash or cheques and from which he or she can draw cheques or make withdrawals on a day-to-day basis.
  2. a financial record of a country's trade in GOODS and SERVICES with the rest of the world (see BALANCE OF PAYMENTS).
  3. an account which keeps a record of individual partner's share of profits or losses, and amounts withdrawn, in a PARTNERSHIP.

current account

  1. 1a statement of a country's trade in goods (visibles) and services (invisibles) with the rest of the world over a particular period of time. See BALANCE OF PAYMENTS.
  2. an individual's or company's account at a COMMERCIAL BANK or BUILDING SOCIETY into which the customer can deposit cash or cheques and make withdrawals on demand on a day-to-day basis. Current accounts (or sight deposits as they are often called) offer customers immediate liquidity with which to finance their transactions. Most banks and building societies pay INTEREST on current account balances that are in credit. See BANK DEPOSIT, DEPOSIT ACCOUNT.
References in periodicals archive ?
Interestingly, the PIGS' cumulative current account deficits from 2008 through 2010 were of roughly the same order of magnitude--365 billion [euro], to be precise.
The recent research suggests this increase in household wealth may cause a decrease in the private savings rate, and thus contribute to the current account deficit experienced by the U.
At that time, the current account deficit adjusted to the growing financial inflows.
Foreign banks and other lending institutions still possess pools of liquid capital to invest in the United States, keeping America's current account deficit afloat.
current account deficit in 1995 was balanced by a large recorded net capital inflow and by a positive statistical discrepancy in the international transactions accounts, which comprises both unrecorded net capital inflows and unrecorded current account transactions (table 10).
A marked improvement in the availability of external financing has allowed Lithuania to register substantial current account deficits since the beginning of 1993, while strengthening the country's international reserve position.
The average of the 18 economists' expectations for the year-end current account deficit is US$48.
Turkey's Central Bank is anticipated to release data concerning the current account deficit on 4 April 2014.
The apex bank in Mexico has said that the nation's current account deficit has decreased.
1 ( ANI ): Senior Bharatiya Janata Party (BJP) leader Yashwant Sinha on Friday said that that there cannot be economic stability unless the Current Account Deficit (CAD) is reduced.
Summary: India's current account deficit grew less than expected in the June quarter and is tipped to ease in coming months as a pick-up in exports and lower gold imports improve the trade balance, offering relief to the battered rupee.
Turkey's high current account deficit is the economy's chronic Achilles' heel, leaving it reliant on hot-money flows to fund a large part it.