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