As RA points out, while the next move for interest rates could be down, there is no urgent rush for the trigger to be pulled again.
Firstly, because lower interest rates are having some effect on the areas of the economy which tend to be impacted, and secondly, because the drop off in mining capital investment - to date at least - has not been sharp.
The last round of ABS figures showed that mining capex may yet fall in a more measured fashion.
As a recap, these are the actual and expected figures for total capital expenditure:
And this is part of the same data set for mining only capital expenditure, actual and expected: