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Home > News and Publications > News Release - Target Two Point Zero results for 27 November 2014
 

News Release - Target Two Point Zero results for 27 November 2014

27 November 2014

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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.

Cardiff | Lancaster | London | Luton

Regional heat results from Cardiff


The team from Stanwell School, Penarth won the regional heat held at the New House Country Hotel, Cardiff on 27 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 other schools in the heat were:  Llandovery College and Ysgol Gyfun Cwm Rhymni, Blackwood.

The chair of the judging panel, Neil Ashbridge, said “This was a good group of presentations, with the winners’ presentation being particularly forward looking”.
 
Regional heat results from Lancaster

 
The team from St Bees School, Whitehaven, won the regional heat held at the Lancaster House Hotel & Conference Centre, Lancaster on 27 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 Ripley St Thomas Church of England Academy, Lancaster were runners up.  The other schools in the heat were:  Bolton School Boys’ Division, Merchant Taylors’ Boys’ School, Liverpool, Range High School, Liverpool, Rossall School, Fleetwood, Runshaw College, Preston and St Mary’s College, Blackburn.

The chair of the judging panel, John Young, said “We saw a consistently high level of presentations and it was very difficult to separate the teams”.
 
Regional heat results from London

 
The team from The Latymer School, Edmonton won the regional heat held at the Prudential Regulation Authority, London on 27 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 Henrietta Barnett School, Hampstead Garden Suburb were runners up.  The other schools in the heat were:  Notting Hill and Ealing High School, West Ealing, The John Lyon School, Harrow-on-the Hill, Woodford County High School for Girls, Woodford Green and Wren Academy, Barnett.

The chair of the judging panel, Peter Andrews, said “Some impressive presentations explored the critical issues in the labour market and the global economy”.
 
Regional heat results from Luton


The team from The Perse School, Cambridge  won the regional heat held at Putteridge Bury Conference Centre, Luton on 27 November 2014.  They recommended an interest rate of 0.75% 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 St Clement Danes School, Chorleywood were runners up.  The other schools in the heat were:  CATS College Cambridge, St Albans School, St Francis’ College, Letchworth, St George’s School, Harpenden and The Bishop’s Stortford High School.

The chair of the judging panel, Tim Pike, said “The judges were very impressed with the extremely high standard of the presentations they saw today”.

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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