Federal Treasurer Wayne Swan expects lower interest rates will work their way through the economy and stimulate growth in non-mining sectors.

Reacting to the Reserve Bank of Australia's (RBA) quarterly monetary policy statement, Mr Swan said: "There are some encouraging signs in the statement from the Reserve Bank today that we are seeing a revival, particularly when it comes to investment in housing."

"So the lower interest rates will work their way through our economy and they will stimulate the non-mining sector of the economy."

Mr Swan said while the crest of the mining investment boom was approaching, there was still a very substantial pipeline of investment locked in or under way.

"This investment will boost volumes in terms of production or export volumes for years to come with the production phase of boom only just starting to ramp up," he said.