SYDNEY, Feb. 22 (Xinhua) -- Australian Reserve Bank governor Glenn Stevens said on Friday that mining investment in the country is nearing its peak levels.
"Looking ahead, it appears that the peak in the level of resource sector investment is now close," Stevens told a parliamentary committee in Canberra.
"It is a very high peak, but we do not think that there will be a rapid decline in the near term after the peak."
He said investment spending by business in other sectors of the Australian economy remained relatively subdued.
"There are good reasons to expect it will strengthen in due course, but the available indicators at present do not suggest that is going to happen in the very near term," he added.