Reserve Bank Governor Philip Lowe has discharged the half-price home loan he took out with the RBA to buy his five-bedroom home in Sydney’s eastern suburbs.
Sky News revealed that Dr Lowe – who started working at the central bank in 1980 – took up a staff offer of a concessional loan in 1997, pegged at half the standard variable interest rate.
The scheme was scrapped in 2001, but Sky News revealed that 11 staff still enjoy discounted mortgages.
This comes as the RBA board on Tuesday decided to leave the interest rate at 3.6 per cent after a year of consecutive hikes.
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