current account


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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 an account which keeps a record of individual partner's share of profits or losses, and amounts withdrawn, in a PARTNERSHIP.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 objective of this study is to explore the dynamic relationship between current account and exchange rate and to analyse the effect of oil price innovation on their relationship for D-8 countries.
But the reality is that people who are in credit in their current accounts may be missing out on the returns that they could make if they shifted their money elsewhere.
Helen Bierton, head of Santander current accounts, said: "For many people enjoying a successful long term relationship in whatever form is more rewarding than chopping and changing.
3) The method used to measure the current account follows that of Humpage (2001).
When the dollar depreciates, it actually narrows our net liability position instead of increasing it and this tends to stabilize the net international liability position even in the face of large current account deficits.
com, Stuart Glendinning says: 'Any product to stimulate market activity is welcome, but Alliance & Leicester has had the best current account proposition for the last couple of years and remains the best.
The BOJ uses the outstanding balance of the current account deposits as a monetary adjustment target instead of the overnight call money rate, which has been near-zero.
When the BOJ first adopted "quantitative easing" in 2001, its focus for monetary policy shifted from interest rate targets to current account balances and other liquidity targets.
This inflow of foreign capital has kept America's current account deficit stable and U.
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.
Canadian current account resulted in increases in the U.