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Home > News and Publications > News Release - Target Two Point Zero results for 26 November 2014
 

News Release - Target Two Point Zero results for 26 November 2014

26 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.

Bristol | London | Luton | Manchester | Nottingham | Oxford

Regional heat results from Bristol

The team from Pate’s Grammar School, Cheltenham  won the regional heat held at the Avon Gorge Hotel on 26 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 Clifton College, Bristol were runners up.  The other schools in the heat were:  Cleeve School, Cheltenham, Katharine Lady Berkeley’s School, Wotton-under-edge, Sir Thomas Rich’s School, Gloucester, The Cheltenham Ladies’ College, The Cotswold School, Cheltenham and Wycliffe College, Stonehouse.
 
The chair of the judging panel, Stephen Collins, said “This was a very closely contested heat with a number of innovative suggestions for forward guidance”.
 
Regional heat results from London

The team from St Paul’s Girls’ School, Hammersmith won the regional heat held at the Prudential Regulation Authority on 26 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 Coopers’ Company and Coborn School, Upminster, were runners up.  The other schools in the heat were:  St Benedict’s School, Ealing, St Dunstan’s College, Catford, Surbiton High School, Kingston-upon-Thames, Sutton Grammar School, The Charter School, Dulwich and Thomas Tallis School, Blackheath.
 
The chair of the judging panel, Peter Andrews, said “The teams coped well with the puzzles facing monetary policy, drawing on a wide range of interesting and imaginative research work”.
 

Regional heat results from Luton

The team from Stanborough School, Welwyn Garden City won the regional heat held at the Putteridge Bury Conference Centre on 26 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 Berkhamsted School, were runners up.  The other schools in the heat were:  Abbey College Cambridge, Beaumont School, St Albans, Bedford School, Chigwell School and Dame Alice Owen’s School, Potters Bar.

The chair of the judging panel, Tim Pike, said “A very high standard all round and the judges struggled to choose the winner”.

Regional heat results from Manchester

The team from Xaverian College, Manchester won the regional heat held at DoubleTree by Hilton Hotel Manchester on 26 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 Withington Girls’ School, Manchester were runners up.  The other schools in the heat were:  Carmel College, St Helens, Great Sankey High School, Warrington, Loreto Grammar School, Altrincham, Sandbach High School and Sixth Form College, and Stockport Grammar School.

The chair of the judging panel, John Young, said “The teams had put a lot of work into their presentations and we were very impressed by their knowledge of economics and monetary policy”.

Regional heat results from Nottingham

The team from Kesteven & Grantham Girls’ School, Grantham won the regional heat held at Nottingham Racecourse on 26 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 Chesterfield College, were runners up.  The other schools in the heat were:  Bilborough College, Nottingham, East Leake Academy, Loughborough, and John Port School, Derby.
 
The chair of the judging panel, Alastair Cunningham, said “A very impressive array of data and evidence was brought together today, making it a really exciting heat to judge”.
 

Regional heat results from Oxford

The team from Headington School, Oxford won the regional heat held at the Unipart Conference Centre, Oxford on 26 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 John Hampden Grammar School, High Wycombe were runners up.  The other schools in the heat were:  Matthew Arnold School, Oxford, Ranelagh School, Bracknell, The Cherwell School, Oxford, The Royal Latin School, Buckingham and Wycombe High School.

The chair of the judging panel, Graeme Chaplin, said “Another set of enjoyable presentations;  congratulations to all participants for their hard work”.  

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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