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Home > News and Publications > News Release - Target Two Point Zero results for 16 November 2015
 

News Release - Target Two Point Zero results for 16 November 2015

16 November 2015

Available as: PDF

The sixteenth annual Target Two Point Zero – Bank of England and The Times Interest Rate Challenge is now underway, with 297 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 March 2016, with the national final to be held in March at the Bank of England in London.

 

Crawley | London | Newcastle | Nottingham | Stockport

Regional heats results from Crawley

The team from City of London Freemen’s School, Ashtead, won the regional heat held at the Arora Hotel Gatwick, Crawley on 16 November 2015.  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 November 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 November 2014.
 
The team from Oxted School were runners up.  The other schools in the heat were: The Ashcombe School, Dorking, Tunbridge Wells Grammar School for Boys, Uckfield Community Technology College and Woking College.

The chair of the judging panel, Andrew Holder, said “A great start to this year’s competition.  A lot of hard work went into all of the presentations.  Congratulations to all competitors”.

Regional heats results from London

The team from Nonsuch High School for Girls, Cheam, won the regional heat held at the Prudential Regulation Authority, London on 16 November 2015.  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 November 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 November 2014.
 
The team from Newstead Wood School for Girls, Orpington were runners up.  The other schools in the heat were:  Greenford High School, Southall, Notting Hill and Ealing High School, West Ealing, Paddington Academy, Westminster, The Campion School, Hornchurch and Westminster Kingsway College.
 
The chair of the judging panel, Peter Andrews, said “The participants used their assessment of the economy to challenge conventional wisdom”.
 

Regional heats results from Newcastle

The team from Newcastle Sixth Form College won the regional heat held at the Hilton Newcastle Gateshead, Newcastle-upon-Tyne on 16 November 2015.  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 November 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 November 2014.
 
The team from Royal Grammar School, Newcastle  were runners up.  The other schools in the heat were:  Bede Academy, Blyth, Durham School, Durham City, Emmanuel College, Gateshead, Kings Priory School, Tynemouth, Newcastle High School for Girls, and  Queen Elizabeth High School, Hexham.
 
The chair of the judging panel, Mauricio Armellini, said “Congratulations to all the teams involved – as ever it was great to see the amount of hard work that went into all the presentations.  It was a really close call to pick a winner, but we know that Newcastle Sixth Form College will do the North East proud in the next round”.
 

Regional heats results from Nottingham

The team from Kesteven and Grantham Girls’ School, Grantham, won the regional heat held at the Nottingham Racecourse, Nottingham on 16 November 2015.  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 November 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 November 2014.
 
The team from Bilborough College, Nottingham were runners up.  The other schools in the heat were:  Melton Vale Post 16 Centre, Melton Mowbray, Nottingham High School and Queen Elizabeth’s Grammar School, Ashbourne.
 
The chair of the judging panel, John Young, said “The judges were genuinely impressed with the high standard of the presentations and the students’ knowledge of monetary and financial stability policy”.
 

Regional heats results from Stockport

The team from Sale Grammar School, won the regional heat held at the Cheshire Conference & Events at Edgeley Park, Stockport, on 16 November 2015.  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 November 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 November 2014.
 
The team from Withington Girls’ School, Manchester were runners up.  The other schools in the heat were:  Altrincham Grammar School for Girls, Bury Grammar School for Boys, The King’s School, Macclesfield, The Manchester Grammar School and Xaverian College, Manchester.
 
The chair of the judging panel, Alastair Cunningham, said “An inspiring start to this year’s competition and encouraging to see such a divergence of policy conclusions across the schools”.
 
 
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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