World Bank report says US deficit to fall slowly

The US current account deficit is expected to decline gradually over the next three years, according to the World Bank's annual Global Development Finance report.

"A gradual pick-up in activity outside of the US, coupled with higher US interest rates and a limited tightening of fiscal policy should reverse the rising trend in the US current account deficit," the bank said in its annual Global Development Finance report.

The dollar is expected to continue to decline but only modestly, losing a