Ian Verrender

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.

I'm not sure who the one holding that would be, possibly the Treasury Secretary, who knows?

But yeah, it's really quite an interesting situation now.

That's the thing that worries me the most out of yesterday's meeting and the press conference where all of the forecasts that they've made are predicated on the idea that the Gulf situation will be resolved within the next two months.

So we're talking six to eight weeks here and that everything will return to normal and it'll all be hunky-dory.

Well, I don't think that's going to happen.

I mean, you know, what you've seen is a continual shift from the U.S.,

Well, there's another announcement saying epic fury is over, right?

The whole war's ended.

We've achieved our objectives.

But what does that mean?

The Strait is still shut.