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Cooling the commodity market

Cooling the commodity market

Bank of England warns banks over data deficiencies

  • #China plans its first public auction of state crude #oil reserves to a select group of domestic refiners, the reserve's administration announced, as Beijing looks to cool high raw material costs for manufacturers.
  • Some #banks and building societies are failing to supply reliable data for regulators to spot threats to the financial system, the Bank of England has warned.
  • #GBP/USD firmed to a one-week high against the dollar to close the week, shrugging off Britain's weak economic data on expectations the Bank of England was set to hike interest #rates well ahead of its U.S. counterpart.

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