Unfortunately for savers it appears unlikely that the Reserve Bank of Australia will increase interest rates in the near future.
In fact, some economists don't expect a rate rise until the end of next year at the earliest.
Because of this I would suggest savers consider putting their money to work in the share market, rather than leaving it in a bank account gathering dust.
If I had $10,000 in a savings account I would consider investing it in these three shares:
Collins Foods Ltd (ASX: CKF)
Collins Foods is one of Australia's largest operators of KFC restaurants. Thanks to its expansion plans both at home and in Europe I believe it is in a great position to deliver strong earnings and dividend growth over the next decade. In light of this, I think now could be an opportune time to snap up its shares and its trailing fully franked 2.9% dividend.
Domino's Pizza Enterprises Ltd. (ASX: DMP)
Like Collins Foods, Domino's also has ambitious expansion plans. At present Domino's has 2,135 stores in operation, but aims to more than double its footprint to 4,650 stores by 2025. I expect that this and its aim to expand its margins greatly through technology and operating efficiencies should result in above-average earnings growth over the next eight years.
Nextdc Ltd (ASX: NXT)
Thanks to the seismic shift to the cloud I believe this leading data centre operator is in a great position to deliver strong earnings growth over the next decade. NEXTDC plans to open three new state of the art data centres this year, boosting its overall capacity greatly. I expect this to lead to bumper profit growth in FY 2019.
