Peter Costello has ruled out a challenge for the Liberal leadership but left the party none the wiser about whether he could be drafted into the top job some other way.
On the day Opposition Leader Brendan Nelson gave a major speech on the challenges facing the nation, the recently reclusive Mr Costello stole the limelight with a rare public appearance.
At the opening of new Victorian senator Helen Kroger's electorate office, the former treasurer denounced the economic performance of his successor, Wayne Swan, accusing him of taking the nation backwards.
Senator Kroger is the former wife of Victorian Liberal powerbroker and Costello ally, Michael Kroger.
During his cryptic appearance, Mr Costello ruled out a challenge but gave no clarification about whether he might enter the fray if ambitious treasury spokesman Malcolm Turnbull put his hand up for the leadership or if he could be drafted if Dr Nelson stepped aside.
Asked if he intended to challenge for the leadership, Mr Costello said: "Well I am not. Everybody knows that."
Speculation about Mr Costello's future remains intense ahead of the release of his memoirs next month, when he is expected to make clear whether he will stay or leave politics.
The day after the federal election - as he made it clear he wouldn't be seeking the Liberal leadership - Mr Costello announced his plan to leave politics and pursue a corporate career.
But nine months after the Howard government was dumped from office, Mr Costello remains on the backbench without any clear indication of his future plans.
While his leadership has been shadowed by poor opinion polls and some clumsy policy moves, Dr Nelson remained sanguine about the focus on Mr Costello.
"We had a chat about his future and what we're doing and he'll announce that when he's ready to do. It won't be long," Dr Nelson told the Ten Network.
This week the opposition leader vowed it was his intention to still be in the job come 2010, when the next federal election is due.
Expectations within the Liberal Party appear to favour a Costello departure.
While admitting a desire for a Costello return to the frontbench, senior Liberal Nick Minchin expects he is likely to leave.
"I have always since the election assumed that what he said after the election was true and he was more likely to leave politics than he was to stay," he told AAP.
"I'm still assuming that he's likely to leave politics in the near future but given his talent and everything it would be terrific if he did decide to stay."
A long-time Costello supporter, who declined to be named, says he doesn't believe anything has changed since the election.