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.
