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Home > News and Publications > News Release - Target Two Point Zero results for 21 November 2014
 

News Release - Target Two Point Zero results for 21 November 2014

21 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.

Belfast | London | Newcastle upon Tyne | Tonbridge |  York

Regional heat results from Belfast
  

The team from St Patrick’s High School, Keady won the regional heat held at the Ramada Plaza Belfast on 21 November 2014.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 Ballymena Academy were runners up.  The other schools in the heat were: Campbell College, Belfast and Portadown College.

The chair of the judging panel, Frances Hill, said “It has been a great heat, we’ve seen very good presentations and heard really interesting ideas.  All teams should be very proud of what they have achieved”.
 
Regional heat results from London


The team from Wilson’s School, Wallington, won the regional heat held at the Prudential Regulation Authority on 21 November 2014.  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 Highgate School, were runners up.  The other schools in the heat were:  Heston Community School, Hounslow, Ilford County High School, James Allen’s Girls’ School, Southwark, and Jo Richardson Community School, Dagenham.

The chair of the judging panel, Peter Andrews, said “A strong and interesting set of presentations with some schools recognising dissenting views on monetary policy”.

Regional heat results from Newcastle upon Tyne


The team from Royal Grammar School, Newcastle Upon Tyne, won the regional heat held at the Hilton Newcastle Gateshead on 21 November 2014.  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 Newcastle High School for Girls, were runners up.  The other schools in the heat were:  Durham School, Hartlepool Sixth Form College, Newcastle Sixth Form College, Queen Elizabeth High School, Hexham, and Yarm School, Stockton-on-Tees.

The chair of the judging panel, Mauricio Armellini, said “We were very impressed by the quality of the presentations today.  It’s clear that an awful lot of hard work had gone into preparing them.  As ever it was difficult to choose a winner.  We are confident that the Royal Grammar School will do the North East proud in the next round”.

Regional heat results from Tonbridge


The team from Sackville School, Hildenborough won the regional heat held at the River Centre, Tonbridge on 21 November 2014.  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 Benenden School, Cranbrook, were runners up.  The other schools in the heat were:  Gravesend Grammar School, Sir Joseph Williamson’s Mathematical School, Rochester, Tunbridge Wells Grammar School for Boys and Wilmington Grammar School for Boys, Dartford.

The chair of the judging panel, Phil Eckersley, said “A day of incredibly high standard of presentations with a difficult decision between the two top teams”.

Regional heat results from York


The team from Fulford School, York won the regional heat held at the York Marriott Hotel on 21 November 2014.  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 Wyke Sixth Form College, Hull, were runners up.  The other schools in the heat were:  Huntington School, York, Joseph Rowntree School, York, and Scarborough VI Form College.

The chair of the judging panel, John Young, said “The teams showed a real knowledge of economics and monetary policy in some very effective presentations”.
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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