NAB’s CEO Cameron Clyne claims the mining boom is far from over, telling guests at a Sydney luncheon yesterday that significant investments were “in the pipeline”
He acknowledged commodity prices had peaked and were falling off slightly, but “were still quite high.”
"There is no suggestion that we have seen that people are going to stop that investment. But the other side is that commodity prices are coming off.”
Clyne also allayed fears of a housing market crash, telling the lunch guests “nothing we have seen would suggest that there is a precipitous collapse about to happen.”
He said there was a "floor underneath property prices" which would prevent a collapse.
His comments echo those of RBA
governor Glenn Stevens
, who last month said the housing bubble was yet to pop.