Skip to main content
  • This website sets cookies on your device. To find out more about how we use cookies please refer to our Privacy and Cookie Policy. By continuing to use the site, we’ll assume that you are content for us to set these on your device.
  • Close
Home > News and Publications > News Release - Target Two Point Zero results for 17 November 2015
 

News Release - Target Two Point Zero results for 17 November 2015

17 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.

 

Belfast | Chester | Leeds | London | Winchester

Regional heats results from Belfast

The team from Loreto College, Coleraine, won the regional heat held at the Holiday Inn Express on 17 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 Ballymena Academy were runners up.  The other schools in the heat were:  Methodist College, Belfast,  Portadown College and St Patrick’s High School, Keady.

The chair of the judging panel, Frances Hill, said “Today we saw an exceptionally high level of presentations that demonstrated very sound economic knowledge”.

Regional heats results from Chester

The team from Range High School, Liverpool won the regional heat held at the DoubleTree Chester Hotel on 17 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 Sandbach High School and Sixth Form College were runners up.  The other schools in the heat were:  Carmel College, St Helens, Ruthin School, Rydal Penrhos School, Colwyn Bay, The Blue Coat School, Liverpool and The Grange School, Northwich.

The chair of the judging panel, Steve Hicks, said “We were particularly pleased with the range of information that was drawn upon by the teams, including an international perspective, when making their policy conclusions”.

Regional heats results from Leeds

The team from Birkdale School, Sheffield won the regional heat held at the Village Urban Resort Leeds North on 17 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 The Grammar School at Leeds were runners up.  The other schools in the heat were:  Fulneck School, Leeds, Heckmondwike Grammar School, John leggott Sixth Form College, Scunthorpe, Queen Elizabeth Grammar School, Wakefield and Tollbar Academy, Grimsby.

The chair of the judging panel, Juliette Healey, said “The quality of presentations was even higher this year, with some great one-liners ‘ - forecasting oil prices is like sewing a button onto custard”.

Regional heats results from London

The team from Ilford County High School, won the regional heat held at the Prudential Regulation Authority on 17 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 The Charter School, Dulwich were runners up.  The other schools in the heat were:  Chadwell Heath Academy, Romford, Pimlico Academy, and Twyford Church of England High School, Acton.

The chair of the judging panel, Peter Andrews, said “The judges were impressed by the way the schools integrated the uncertain global outlook into the domestic policy decision”.

Regional heats results from Winchester

The team from Sir William Perkins’s School, Chertsey won the regional heat held at the Holiday Inn Winchester on 17 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 Peter Symonds College, Winchester were runners up.  The other schools in the heat were:  Gordon’s School, Woking, Ryde School with Upper Chine, St Peter’s School, Bournemouth, The Portsmouth Grammar School, and Twynham School, Christchurch.

The chair of the judging panel, Andrew Holder, said “An impressive group of presentations with some really excellent contributions which made the judges’ decision very difficult.  Well done to everyone!”.

 

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.

Share