RBA Governor's $2m Coastal Property Purchase Raises Questions

Reserve Bank governor Michele Bullock has purchased a $2 million plus coastal property in Yamba, New South Wales, just days after raising interest rates for the second consecutive month.

The four-bedroom house was bought on February 17 and exchanged on March 17, the same day that the RBA raised its cash rate by 0.25 of a percentage point to 4.1 per cent.

Bullock declared the transaction as required in her declaration of material personal interests, stating that it is jointly owned with her husband and listed as an investment.

The property features a glass-encased wine cellar, feature granite stone wall, state-of-the-art kitchen with French-imported handmade basin, dual Miele ovens, and a home office and media room with bar and fridge.