CB: "Since the current account deficit will fall, there is no need for a rate hike"

The current account deficit is expected to fall in the second quarter of this year while inflation has returned to normal levels, so there is no need for a rate hike in the short term, the Central Bank said on Monday. "The markets should be eased as the CB expects the current account deficit will decline in the second quarter as an outcome of a slowdown in domestic demand," the Bank told a gathering of economists. "The need for any additional monetary-tightening measures has decreased," the CB added.