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Home > News and Publications > News Release - Target Two Point Zero results for 25 November 2014
 

News Release - Target Two Point Zero results for 25 November 2014

25 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 | Bristol | Farnborough | London | Luton

Regional heat results from Birmingham

The team from Kenilworth School and Sports College, won the regional heat held at the Aston Business School Conference Centre, Birmingham on 25 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 King Edward’s School, Birmingham  were runners up.  The other schools in the heat were:  King Edward VI Five Ways School, Birmingham, Queen Mary’s Grammar School, Walsall, Rugby School and Stafford Grammar School.
 
The chair of the judging panel, Graeme Chaplin, said “An exceptionally strong heat:  great presentations and innovative ideas”.
 

Regional heat results from Bristol

The team from Millfield School, Street won the regional heat held at the Avon Gorge Hotel, Bristol on 25 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 Marlborough College, were runners up.  The other schools in the heat were:  Kingswood School, Bath, Midsomer Norton Sixth Form, Radstock, Sherborne School, Sherborne School for Girls, St Laurence School, Bradford-on-Avon and The Royal High School Bath.
 
The chair of the judging panel, Stephen Collins, said “The teams presented some interesting charts and ideas which made the job of the judges all the more difficult”.

Regional heat results from Farnborough

The team from Guildford High School, won the regional heat held at the Holiday Inn Farnborough on 25 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 Sixth Form College Farnborough were runners up.  The other schools in the heat were:  Charterhouse, Godalming, Lord Wandsworth College, Hook, Reed’s School, Cobham, Royal Grammar School, Guildford and  Woking College.
 
The chair of the judging panel, Chris Piper, said “The judges were impressed by the interesting creative ideas to enhance forward guidance”.

Regional heat results from London

The team from Latymer Upper School, Hammersmith won the regional heat held at the Prudential Regulation Authority on 25 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 Merchant Taylors’ School, Northwood were runners up.  The other schools in the heat were:  Dulwich College, Leyton Sixth Form College, Mill Hill County High School, Morpeth School, Tower Hamlets and Newstead Wood School for Girls, Orpington.
 
The chair of the judging panel, Mark Cornelius, said “It is impressive the effort the young students are able to put in at one of the busiest times of their lives”.
 

Regional heat results from Luton

The team from Immanuel College, Bushey won the regional heat held at the Putteridge Bury Conference Centre on 25 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 Reepham High School and College, were runners up.  The other schools in the heat were:  Goffs School, Cheshunt, Monk’s Walk School, Welwyn Garden City, Redborne Upper School and Community College, Bedford, Richard Hale School, Hertford and Samuel Whitbread Academy, Shefford.
 
The chair of the judging panel, Alastair Cunningham, said “Some really innovative approaches to the policy challenge today – it was quite exciting to see such a range of approaches to gauging the outlook for the 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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