RBA boss Michele Bullock settled on luxury $2 million holiday home on same day as the latest cash rate hike
Reserve Bank governor Michele Bullock settled on a $2 million holiday home on the same day the RBA increased the cash rate.
Bullock and her husband Ian, who jointly own two other investment properties, bought the four-bedroom home in Yamba in NSW's Northern Rivers region on February 3 and finalised the transaction on the day the RBA board hiked interest rates to 4.1 per cent.
The purchase was noted in Bullock's updated declaration of material interests on the RBA's website, published on March 17.
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Michele Bullock bought the four-bedroom home in Yamba in February and settled on the purchase on March 17. Alex Ellinghausen
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On that same day, the RBA informed Australian borrowers that it had lifted the cash rate for the second time in as many months.
Bullock's new $2.05 million home includes four bedrooms, two bathrooms and a wine cellar.
The spacious home, located around 1.5 hours from Byron Bay, is described as "luxurious coastal living" by the agent who sold the home.
The RBA document also lists Bullock's three other homes in Sydney, including her primary residence in Russell Lea and two other investment properties in Chiswick and Drummoyne.
The RBA voted to raise the cash rate by 0.25 per cent to 4.10 per cent on March 17. 9News
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Bullock earns $1.195 million per year in her taxpayer-funded role.
The RBA declined to comment.
RBA's monetary policy board decided to increase the cash rate by 0.25 percentage points to 4.10 per cent, citing high inflation and the oil price spike caused by the war in the Middle East as deciding factors.
Australia's big four banks have predicted triple rate hike pain, with economists forecasting yet another cash rate increase at the RBA's meeting in May.
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