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Where I would invest $10,000 in the ASX

Earlier today the Australian consumer price inflation (CPI) report came in below expectations at 1.9%. While this was an improvement on the 1.8% level reported for the September quarter, economists had been expecting it to increase to 2%.

In light of this, an interest rate rise appears to be off the table for some time to come. Which means that the low interest rates on offer from savings accounts are likely to be around for a little while longer than savers had hoped.

Because of this I think anyone that has $10,000 sitting in a savings account ought to consider putting it to work in the market.

Here are three shares which I would consider investing this money into today:

A2 Milk Company Ltd (ASX: A2M)

In my opinion this dairy company would have to be the ultimate growth share on the Australian share market. Thanks to the incredible demand for its products from the lucrative Chinese market and its expansion into the north east of the United States, I remain confident that it has the potential to be a market-beater for a number of years to come.

Nextdc Ltd (ASX: NXT)

Due to the tailwinds it is experiencing from the seismic shift to the cloud, I think this data centre operator would be a great buy and hold investment. While its shares are a little on the expensive side, I do believe that the insatiable demand for data storage will allow NEXTDC to grow its earnings at a rate that more than justifies the premium.

Telstra Corporation Ltd (ASX: TLS)

Investors that are interested in dividend shares could do a lot worse that this telco giant. Although 2017 was a bit of a dud year, I think the changes the company made have positioned it well for the future. Furthermore, the drop in its share price means that its proposed 22 cents per share fully franked dividend provides a yield of over 6% currently.

Looking for even more ideas? Then why not invest that $10,000 into one of these top quality growth shares.

Top 3 ASX Blue Chips To Buy In 2018

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Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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