Annual report notes Philip Lowe and Michele Bullock’s remuneration increase was recommended by an independent committee
The Reserve Bank’s top two executives clocked up remuneration gains of more than 10% in the past year, or not far shy of twice the inflation rate.
During his final year as governor, Philip Lowe took home $1,147,465 in base pay, bonuses, superannuation and other payments. That sum was about 10.5% higher than a year earlier, according to the bank’s annual report, which released on Thursday.
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