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Home > News and Publications > News Release - Target Two Point Zero results for 24 November 2014
 

News Release - Target Two Point Zero results for 24 November 2014

24 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.

Birmingham | Leicester | London | Luton | Winchester

Regional heat results from Birmingham

The team from Wolverhampton Girls’ High School, won the regional heat held at the Aston Business School Conference Centre, Birmingham on 24 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 Aldridge School, Walsall were runners up.  The other schools in the heat were:  Bablake School, Coventry, Bishop Vesey’s Grammar School, Sutton Coldfield, Concord College, Shrewsbury, King Edward VI Camp Hill School for Boys, Birmingham, King Edward VI College, Stourbridge and Southam College.

The chair of the judging panel, Graeme Chaplin, said “Once again extremely impressed by the knowledge of all the teams.  Some fascinating ideas”.

Regional heat results from Leicester

The team from Oundle School, Nr Peterborough, won the regional heat held at the Leicester Marriott Hotel on 24 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 Stamford Endowed Schools, were runners up.  The other schools in the heat were:  Leicester Grammar School, Northampton High School, Uppingham School, Oakham and Wyggeston & Queen Elizabeth I College, Leicester.

The chair of the judging panel, Alastair Cunningham, said “Some very strong presentations – it was a tough judging decision which is testament to all who took part”.

Regional heat results from London

The team from Queen Elizabeth’s School, Barnet, won the regional heat held at the Prudential Regulation Authority on 24 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 Nonsuch High School for Girls, Cheam were runners up.  The other schools in the heat were:  North London Collegiate School, Edgware, Northwood College, Putney High School, Queen’s College, London and Sacred Heart Catholic School, Southwark.
 
The chair of the judging panel, Will Dowson, said “Well done to all of the teams today, they covered a wide range of data and had done a lot of research to support their presentations”.

Regional heat results from Luton

The team from Saffron Walden County High School, won the regional heat held at the Putteridge Bury Conference Centre, Luton, on 24 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 Sandringham School, St Albans, were runners up.  The other schools in the heat were:  Haberdashers’ Aske’s Boys’ School, Elstree, Haileybury, Hertford, Kimbolton School, Huntingdon, Sir John Lawes School, Harpenden, The King’s School, Peterborough and Verulam School, St Albans.

The chair of the judging panel, Joe Ganley, said “A very high standard of presentations overall across all 8 schools today”.

Regional heat results from Winchester

The team from Peter Symonds College, Winchester, won the regional heat held at  the Holiday Inn Winchester on 24 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 The Portsmouth Grammar School, were runners up.  The other schools in the heat were:  Churchers’ College, Petersfield, Parkstone Grammar School, Poole Grammar School, Poole, St Swithun’s School, Winchester and The Wellington Academy, Tidworth.
 
The chair of the judging panel, Chris Piper, said “The judges were impressed with the quality of presentations and the teams’ understanding of the balance of risks for the UK economy”.

Notes for 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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