RBA boss buys $2m luxury holiday house on rate hike day
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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.

The Reserve Bank of Australia’s website recently updated its material interests declaration, revealing a new property acquisition by Bullock, announced 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 is a $2.05 million residence that features four bedrooms, two bathrooms, and a wine cellar, offering ample space and luxury.

This expansive home, situated approximately 1.5 hours from Byron Bay, was marketed by its agent as epitomizing “luxurious coastal living.”

The RBA document also details Bullock’s property portfolio, which includes her main home in Russell Lea and two investment properties located in Chiswick and Drummoyne, all in 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 Reserve Bank of Australia has chosen not to provide any comments on the matter.

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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