Just how many lanes does York Street have?

This afternoon I drove over a shiny new painted white arrow in York Street just outside the turn to the new flats. I'm guessing people are driving out and trying to turn right down the one-way system.

However a white arrow, just the one painted in the middle of the road. So is this an official statement that York Street is in fact just one lane?

If so then who has priority at its entrance Lion Hill or Lichfield Street/Mart Lane?

If not whose authorised only one arrow to be painted when there should be two?