Although there has been speculation that interest rates could rise in the not too distant future, I'm yet to be convinced that this will be the case.
Especially considering the recent strengthening of the Australian dollar. If the local currency stays above 80 U.S. cents then I imagine the Reserve Bank would be all the more reluctant to raise interest rates in the near future.
In light of this, I think there's every chance that the paltry interest rates on offer from savings accounts are here to stay for a little while longer.
As a result, if I had $10,000 sitting in a savings account today, I would consider putting that money to work in the share market.
Here are two shares I would look at investing it into:
Nextdc Ltd (ASX: NXT)
I think this leading data centre operator would be a fantastic buy and hold investment option. As the migration to the cloud gathers pace, I expect demand for NEXTDC's data centre services will grow substantially. Pleasingly, management appears to believe this to be the case as well and plans to expand its capacity significantly in FY 2018. I expect this will lead to bumper earnings growth in FY 2019.
Ramsay Health Care Limited (ASX: RHC)
This leading private hospital operator's shares have fallen almost 10% since the release of its full-year results last month. The market appears to have been disappointed that core earnings are expected to grow between 8% and 10% this year, compared to 13% in FY 2017. But I think that this guidance was reasonably conservative and there is a chance the company will outperform it. Furthermore, I feel Ramsay is in a great position to grow at an above-average rate in the long-term due to ageing populations and increased chronic disease burden. Buying on this recent weakness could prove to be a smart move.
