The head of Australia’s central bank was paid almost $1.2 million last financial year, more than three times her US counterpart and almost twice as much as Anthony Albanese.

Reserve Bank of Australia governor Michele Bullock received a base salary of $987,132, which increased to $1,195,275 when the central bank’s generous superannuation scheme and other allowances were included, according to its annual report.

For presiding over official interest rates and helping supervise the financial system, Ms Bullock received less than a fifth of Commonwealth Bank chief executive Matt Comyn’s $7.018 million pay. Unlike her commercial counterparts, she has a fixed contract that runs until 2030 and cannot be fired.

Appointed by a Labor government, she oversaw cuts to interest rates in February, May

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