CFR is Council of Financial Regulators (CFR). The coordinating body for Australia's main financial regulatory agencies.

Made up of:

  • the Australian Prudential Regulation Authority (APRA)
  • the Australian Securities and Investments Commission (ASIC)
  • the Australian Treasury
  • and the Reserve Bank of Australia

They'll be a clever lot I am sure. All are on the public payroll though, we might get better indications on how the economy is faring from private sector folks. Dunno.

Anyway, comments from the CFR:

  • the outlook, including the nature and speed of the expected recovery, remains uncertain
  • financial institutions entered with a high level of resilience, will continue to experience the flow-on effects of stress
  • encourage institutions to make use of their capital buffers to continue to support businesses and households
  • economic activity is now beginning to recover in some sectors