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Home > News and Publications > News Release - Target Two Point Zero results for 17 November 2014
 

News Release - Target Two Point Zero results for 17 November 2014

17 November 2014

The fifteenth annual Target Two Point Zero – Bank of England and The Times Interest Rate Challenge is now underway, with 307 teams across the United Kingdom competing for the Challenge Trophy and £5,000 for their school or college.

During the 42 regional heats, teams of four students, aged 16 to 18, will analyse UK and global economic data and their possible impact on inflation and the economic outlook for the UK - just as the Bank of England Monetary Policy Committee does each month. The team must then decide if current monetary policy is appropriate or needs to be adjusted, to meet the 2.0 per cent inflation target set by the Government. In a presentation to a panel of Bank of England judges the team explains their decision then justifies it through their answers to questions from the panel. The winning team from each regional heat goes on to one of the six area finals to be held in February 2015, with the national final to be held in March at the Bank of England in London.

Chester | Crawley | London | Newmarket
 
  

Regional heats results from Chester

The team from The King’s School, Chester won the regional heat held at the DoubleTree Chester Hotel on 17 November. They recommended an interest rate of 0.5% compared with the Bank of England’s official rate of 0.5% set by the Monetary Policy Committee on 6 November 2014. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 6 November 2014.
 
The team from Sale Grammar School were runners-up.  The other teams in the heat were:  Birkenhead School, Coleg Cambria – Yale (Grove Park), Wrexham, Ruthin School, Wirral Grammar School for Boys and Ysgol Eirias, Colwyn Bay.

The chair of the judging panel, Neil Ashbridge, said “The decision was a difficult one, but the judges were swayed by the quality of the winning team’s answers to the questions”.
 
Regional heats results from Crawley


The team from St Bede’s School, Redhill won the regional heat held at the Arora Hotel, Gatwick on 17 November.  They recommended an interest rate of 0.5% compared with the Bank of England’s official rate of 0.5% set by the Monetary Policy Committee on 6 November 2014. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 6 November 2014.
 
The team from Hurtwood House, Dorking were runners-up.  The other teams in the heat were:  Cranleigh School, Glyn School, Epsom, Reigate Grammar School, The Ashcombe School, Dorking and The Weald School, Billingshurst.

The chair of the judging panel, Chris Piper, said “I have been a judge in this competition for 6 years and I never cease to be amazed at the quality of the presentations”.

Regional heats results from London


The team from Fortismere School, Muswell Hill, won the regional heat held at the Prudential Regulation Authority on 17 November.  They recommended an interest rate of 0.5% compared with the Bank of England’s official rate of 0.5% set by the Monetary Policy Committee on 6 November 2014. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 6 November 2014.
 
The team from Kingsbury High School were runners up.  The other schools in the heat were:  Greenford High School, Southall, Hampton School, Harrow College and Harrow School, Harrow on the Hill.

The chair of the judging panel, Stephen Collins, said “We were extremely pleased with the quality of the presentations and the judges found it very hard to distinguish between the leading teams”.
 
Regional heats results from Newmarket


The team from Watford Grammar School for Boys won the regional heat held at the British Racing School conference facilities on 17 November.  They recommended an interest rate of 0.5% compared with the Bank of England’s official rate of 0.5% set by the Monetary Policy Committee on 6 November 2014. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 6 November 2014.
 
The team from The Stephen Perse Sixth Form College, Cambridge were runners-up.  The other teams in the heat were:  Norwich School, King Edward VI School, Bury St Edmunds, Haberdashers’ Aske’s School for Girls, Elstree, Framlingham College and City of Norwich School.
 
The chair of the judging panel, Joe Ganley, said “The teams presented interesting and innovative views on forward guidance for future monetary policy”.
 
 
Notes to Editors
 
If you would like to take a photograph of the team(s) from your area or would like to interview team members, please call the Bank of England Press Office on 020 7601 4411 for contact details.

For further Challenge information see Target Two Point Zero.
 
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