Earlier today I mentioned that the Westpac Banking Corp (ASX: WBC) Weekly economic report revealed that its economists expect the cash rate to remain on hold at the record low of 1.5% until at least December 2020.
In light of this, if I had $10,000 sitting in a supposedly high interest savings account I would consider taking it out and putting it to work in the share market instead.
Three shares that I would consider investing these funds into are listed below, here's why I like them:
Aristocrat Leisure Limited (ASX: ALL)
I think that this gaming technology company could be a great place to invest that $10,000. Its shares have fallen significantly from their 52-week high and are trading at a level that I think is very attractive. Especially given the enormous potential of the company's Digital segment. This segment now has 8.1 million daily active users and appears well-positioned to underpin the company's growth over the next decade.
CSL Limited (ASX: CSL)
If you plan to invest this $10,000 for the long term then I think CSL would be a great option. In my opinion the global biotech giant is one of Australia's highest quality companies and the perfect buy and hold investment. This is due to CSL having strong long term growth potential thanks to the strength of its core business and the numerous lucrative products that it has in its development pipeline.
Xero Limited (ASX: XRO)
Another great buy and hold option for investors to consider is this cloud-based business and accounting software provider. Xero has been growing its subscriber numbers and top line at an impressive rate in recent years. This has continued in FY 2019 with Xero delivering a 37% jump in first half revenue to NZ$256.5 million and a 40% lift in its annualised monthly recurring revenue to NZ$589.1 million. This was driven by the addition of 193,000 net subscribers. The good news is that I feel confident it is well-positioned to continue this strong growth for the next few years due to its significant market opportunity.
