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Home > News and Publications > News Release - Target Two Point Zero results for 19 November 2014
 

News Release - Target Two Point Zero results for 19 November 2014

19 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.

Exeter | Leeds

Regional heats results from Exeter

 
The team from Torquay Boys’ Grammar School, won the regional heat held at the Best Western Tiverton Hotel on 19 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 Torquay Girls’ Grammar School, were runners up. The other schools in the heat were: Blundell’s School, Tiverton, Devonport High School for Boys, Plymouth, Exeter School, South Dartmoor Community College, Newton Abbot, Taunton School and Truro School.

The chair of the judging panel, Stephen Collins, said “The teams were of a high standard throughout and it was a difficult decision to select the winner”.
 

Regional heats results from Leeds

The team from Queen Elizabeth Grammar School, Wakefield, won the regional heat held at the Weetwood Hall Conference Centre & Hotel on 19 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 Bradford Grammar School, were runners up. The other schools in the heat were: Ackworth School, Pontefract, Horsforth School, Leeds, John Leggott Sixth Form College, Scunthorpe, Notre Dame Catholic Sixth Form College, Leeds and Tapton School, Sheffield.

The chair of the judging panel, Fergal Shortall, said “A day with a really high standard of presentation. The judges were really impressed with the creativity, originality of thought and economic knowledge shown by the teams”.
 
 
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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