HomeAURBA Governor Acquires $2 Million Luxury Vacation Home Amid Interest Rate Increase...

RBA Governor Acquires $2 Million Luxury Vacation Home Amid Interest Rate Increase Announcement

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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.

Details of Bullock’s recent property acquisition have emerged in her updated declaration of material interests, as seen on the Reserve Bank of Australia’s website, released on March 17.

Michele Bullock bought the four-bedroom home in Yamba in February and settled on the purchase on March 17. (Alex Ellinghausen)

Bullock’s latest purchase, a $2.05 million home, boasts four bedrooms, two bathrooms, and features a wine cellar.

The expansive property, situated approximately 90 minutes from Byron Bay, is marketed by the selling agent as offering “luxurious coastal living.”

The RBA document also provides information on Bullock’s other real estate holdings, which include her main residence in Russell Lea and two investment properties located in Chiswick and Drummoyne, Sydney.

Small business owners react to RBA decision
The RBA voted to raise the cash rate by 0.25 per cent to 4.10 per cent on March 17. (9News)

In her role, funded by taxpayers, Bullock earns an annual salary of $1.195 million.

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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