Ian Verrender

But as some commentators point out, there's only one price of gas.

There's not the Norway price of gas, which is gas plus 78% tax.

So it would be the companies that would have less profits rather than the buyers being forced to pay more.

So anyway, we've gone down this path, but the details of this have yet to be fully worked out because how does Santos provide a 20% of its uncontracted

Thanks, Keratin.

See you later.

And I'm Ian Verinder, the ABC chief business correspondent.

I think it was a really quite important and, in fact, a monumental meeting yesterday outlining where they think the economy is headed because what it proves or what it shows is that nobody's got the faintest idea.

Seriously, I mean, there are so many parameter shifts, both to the negative and both to the positive, and they even admit in the statement that the uncertainty parameters have just blown right out, that no one knows...

has the foggiest idea of where this is going.

What we do know is that the choices that the Reserve Bank have to make are becoming far more difficult than they've been for many, many years.

I mean, normally a central bank has to decide, do we fight inflation or do we try and stave off a recession?

In this case, they've got both dilemmas.

One in either hand, which way do you go?

Now, that meeting last month, where you had a pretty much an even split on the board, clearly half the board was there going,

we're worried about a recession.

And the other half were going, well, we're worried about inflation.

And it was a very lineball decision.

I would imagine that as the governor, Michelle Bullock probably made the call as the ninth voting member to actually tip it over the line for an interest rate hike.

This time, as you say, it was a much more definite decision from the board, much more unanimous, eight to one.