Macquarie Group chief economist buys in Bronte

Macquarie Group chief economist Ric Deverell has spent $6.35 million in Bronte.

The grand family home dates back to the 1930s. It has five bedrooms, four bathrooms and a saltwwater pool.

The home was offered for the first time in 20 years.

Deverell was previous a managing director at Credit Suisse before joining Macquarie late last year. He once worked as the Reserve Bank of Australia and also in Treasury during the 1990s, where he was head of the Asian section during the Asia crisis.

He got his economics degree at the University of Tasmania.

Built on a 570 square metre holding, the freestanding home has views over Bronte to North Bondi and also to Coogee from the upper level deck.

Last month Deverell indicated the bank expected the RBA to remain on hold until early 2019.

While the economy was improving, the unemployment rate remained too high, and wages and price inflation too low for the 25 basis points of rate hikes they had pencilled in for August and November this year.

This article first appeared in the Sunday Telegraph.