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Home > News and Publications > News Release - Target Two Point Zero area final results
 

News Release - Target Two Point Zero area final results

12 February 2015
From a field of 288 teams, the 42 winning teams from the regional heats of the Interest Rate Challenge, held in November, are now undertaking their next test, the area finals, which are taking place on 12, 25 and 26 February, in five locations around the UK.

As in the heats, the area finals have the teams of four students taking on the role of the Bank of England’s Monetary Policy Committee and making a presentation to a panel of Bank of England judges.  Each team must assess economic conditions and the outlook for inflation and then decide what level of interest rate, or other monetary policy measure, is necessary in order to meet the Government’s inflation target of 2.0%.

The winning team at each area final receives a trophy. The winners then go forward to compete for the Challenge Trophy and the £5,000 prize at the national final to be held at the Bank of England on 20 March.

London | Scotland, Northern Ireland and North West England |
East Midlands and Eastern EnglandWales, South West and Central Southern England

Area final results from London
Available as: PDF


The team from University College School, Hampstead won the London area final held today at the Prudential Regulation Authority, London.  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 5 February 2015. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 5 February 2015.

The team from St Paul’s Girls’ School, Hammersmith were runners up and in third place was Wilson’s School, Wallington. The other teams in this area final were City of London School, Fortismere School, Muswell Hill, Latymer Upper School, Hammersmith and The Latymer School, Edmonton.

The chair of the judging panel, John Young, said “We were very impressed with the students' knowledge of economics and the close attention they had paid to recent economic developments”.

Area final results from Scotland, Northern Ireland and North West England held in Manchester 
Available as: PDF


The team from Stewart’s Melville College, Edinburgh won the Scotland, Northern Ireland and North West England area final held today at the DoubleTree by Hilton Hotel, Manchester.  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 5 February 2015. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 5 February 2015.

The team from The King’s School, Chester were runners up and in third place was
St Bees School, Whitehaven. The other teams in this area final were Bury Grammar School Boys, St Patrick’s High School, Keady and Xaverian College, Manchester.

The chair of the judging panel, Juliette Healey, said “Some excellent presentations demonstrating strong understanding of the economic issues of the day, clarity of thinking and a grasp of the challenges the MPC face”.


Area final results from East Midlands and Eastern England held in Newmarket 
Available as: PDF

The team from The Perse School, Cambridge won the East Midlands and Eastern England area final held today at the The British Racing School Conference Facilities, Newmarket. 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 5 February 2015. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 5 February 2015.

The team from Nottingham High School, were runners up and in third place was
Oundle School, Nr Peterborough. The other teams in this area final were Ipswich School, Kesteven & Grantham Girls’ School, Grantham, Saffron Walden County High School and Stanborough School, Welwyn Garden City.

The chair of the judging panel, Phil Eckersley, said “The judges were impressed by highly original and innovative presentations in what was a very close area final”.

Area final results from Wales, South West and Central Southern England held in Bristol
Available as: PDF 
 


The team from Pate’s Grammar School, Cheltenham won the Wales, South West and Central Southern area final held today at the Avon Gorge Hotel, Bristol. 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 5 February 2015. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 5 February 2015.

The team from Stanwell School, Penarth were runners up and in third place was Millfield School, Street. The other teams in this area final were Headington School, Oxford; Peter Symonds College, Winchester, Reading School and Torquay Boys’ Grammar School.

The chair of the judging panel, Simon Price, said “The teams impressed the judges with their careful analysis at a difficult time for the world economy but the winner stood out with their masterful consideration of the conflicting forces pushing on current UK inflation”.

 

Notes to 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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