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Home > News and Publications > News Release - Target Two Point Zero results for 28 November 2014
 

News Release - Target Two Point Zero results for 28 November 2014

28 November 2014

Target 2.0 logo
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 | London | Manchester | Reading | Tonbridge

Regional heat results for Birmingham


The team from King Edward VI Handsworth School, Birmingham  won the regional heat held at The Aston Business School Conference centre, Birmingham on 28 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 Edgbaston High School for Girls, Birmingham were runners up.  The other schools in the heat were:  King Henry VIII School, Coventry, Old Swinford Hospital, Stourbridge, The King’s High School for Girls, Warwick, Warwick School, Wolverhampton Grammar School and Wrekin College, Telford.

The chair of the judging panel, Graeme Chaplin, said “We were very impressed once again by the enthusiasm of the teams and their innovative approaches to monetary policy”.
 
Regional heat results for London

The team from University College School, Hampstead won the regional heat held at the Prudential Regulation Authority, London, on 28 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 Tiffin Girls’ School, Kingston-upon-Thames, were runners up.  The other schools in the heat were:  The St Marylebone CofE School, Westminster, Townley Grammar School, Bexleyheath, Twyford Church of England High School, Acton, Westminster Kingsway College, and Whitgift School, South Croydon.

The chair of the judging panel, Peter Andrews, said “Several strong presentations showing a sophisticated understanding of the interrelationship between monetary policy and financial stability”.
Regional heat results for Manchester


The team from Bury Grammar School, won the regional heat held at the DoubleTree by Hilton Hotel Manchester on 28 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 Oldham Hulme Grammar Schools, were runners up.  The other schools in the heat were:  Bolton School Girls’ Division, Holy Cross Sixth Form College, Bury, North Chadderton School, Oldham, Rochdale Sixth Form College, and Wilmslow High School.

The chair of the judging panel, John Young, said “Today’s teams were particularly good at discussing their views and we had some lively debate on monetary policy”.
 
Regional heat results for Reading
 

The team from Reading School, won the regional heat held at the Hilton Reading Hotel on 28 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 Sir William Perkins’s School, Chertsey were runners up.  The other schools in the heat were:  Burnham Grammar School, Slough, St George’s School, Ascot and The Downs School, Compton.

The chair of the judging panel, Chris Piper, said “It’s good to hear the teams bring out their disagreements over their policy decisions followed by a balance of their arguments”.
 
Regional heat results for Tonbridge


The team from Cranbrook School won the regional heat held at the River Centre, Tonbridge, on 28 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 selling £75bn of Assets reducing the amount held under the Asset Purchase Facility to £300bn, compared with the £375bn agreed by the MPC on 6 November 2014.
 
The team from Caterham School, were runners up.  The other schools in the heat were:  Eastbourne College, Imberhorne School, East Grinstead, Oxted School, St Lawrence College, Ramsgate and The King’s School Canterbury.

The chair of the judging panel, Andrew Blake, said “Judging by today’s presentations the future economy is in safe hands”.
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