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 an account which keeps a record of individual partner's share of profits or losses, and amounts withdrawn, in a PARTNERSHIP.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 ?
The current account deficit can be financed only through foreign inflows," Chidambaram said.
So financing a continued PIGS current account deficit of about 100 billion [euro] a year would consume the entire stock of base money within another six or seven years.
The current account deficit stood around 800 billion dollars, or approximately 6.
The expansion in the current account deficit stemmed from a surge in the trade deficit, which was traced to a higher crude oil bill and increased imports.
The issuance of financial claims creates a net flow of foreign savings into the United States that, absent measurement error, exactly equals our current account deficit.
Finnish central bank, the Bank of Finland, reportedly said on Monday (14 June) that Finland's current account deficit decreased to EUR0.
The EPI economists conclude that bringing the current account deficit into balance would require a 10-percent drop in America's GDP.
The European Union's external current account deficit almost quadrupled in the first quarter of 2000 to Euro 24.
Britain's current account deficit with the world jumped to pounds 12.
predicted that the current account deficit would set a record this year just above the old mark of $166 billion set in 1987 and would surge even higher to $201 billion in 1997.
current account deficit widened only slightly in 1995 following three years of substantial increases.
China, for example, is estimated to be financing between 10% and 20% of the US current account deficit.