On Tuesday the Reserve Bank of Australia opted to put the cash rate on hold at the record low of 1.5% for yet another month.
Judging by the central bank's rhetoric, I think this will be the case until 2019 unless the Australian economy improves ahead of expectations.
In light of this, if I had $10,000 sitting in a supposedly high interest savings account, I would look at putting it to work in the share market.
Here are three shares which I would consider buying today:
BHP Billiton Limited (ASX: BHP)
Investors interested in gaining exposure to the resources sector might want to consider this mining giant's shares. I expect the strong global economy to support demand for commodities and the favourable prices that BHP is commanding currently. This should ultimately lead to strong profits and allow the miner to pay a generous dividend to shareholders. Income investors may want to act fast as BHP Billiton's shares go ex-dividend on Thursday for its 55 U.S. cents per share interim dividend.
CSL Limited (ASX: CSL)
I think that this biotherapeutics company is a standout pick in the healthcare sector. Although CSL's shares have rallied strongly after delivering an impressive half-year result, I still think they are great value and would be an excellent buy and hold investment option. Especially given the early success of its fledgling influenza business and the continued strength of the company's core business.
Webjet Limited (ASX: WEB)
Another company which I thought delivered a stellar half-year result was Webjet. As well as outperforming expectations, the online travel agent reaffirmed its full-year guidance of EBITDA of $80 million. I have confidence that it will at least achieve this guidance, but suspect that it has the potential to outperform it. Especially when its bookings growth continues to outpace the industry average by a decent margin.
