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Home > News and Publications > News Release - Target Two Point Zero results for 18 November 2015
 

News Release - Target Two Point Zero results for 18 November 2015

18 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 | Leeds | London | Luton | Nottingham

Regional heats results from Crawley

The team from St Bede’s School, Redhill won the regional heat held at Arora hotel Gatwick on 18 November 2015.  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 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 Imberhorne School, East Grinstead were runners up.  The other schools in the heat were:  George Abbot School, Guildford, Glyn School, Epsom and The Skinners’ School, Tunbridge Wells.

The chair of the judging panel, Andrew Holder, said “A really fascinating set of creative policy proposals, which gave the judges a lot to think about.   Well done to all the teams who took part”.

Regional heats results from Leeds

The team from Greenhead College, Huddersfield  won the regional heat held at Village Urban Resort Leeds North on 18 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 Horsforth School, Leeds were runners up.  The other schools in the heat were:  Ackworth School, Pontefract, Elliott Hudson College, Leeds, Giggleswick School, Settle and Woodhouse Grove School, Bradford.

The chair of the judging panel, Juliette Healey, said “Another good day.  Plenty of independent thinking with several teams challenging the status quo”.

Regional heats results from London

The team from Queen Elizabeth’s School, Barnet won the regional heat held at the Prudential Regulation Authority on 18 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 Wilson’s School, Wallington were runners up.  The other schools in the heat were:  Bishop Ramsey Church of England School, Ruislip, City of London School for Girls, Barbican, Harrow College and The Latymer School, Edmonton.

The chair of the judging panel, Peter Andrews, said “Some impressive presentations, and the judges were delighted to see schools attempting their own “agents’ survey” to assess business prospects

Regional heats results from Luton

The team from Beaumont School, St Albans won the regional heat held at the Putteridge Bury Conference Centre on 18 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 Watford Grammar School for Boys were runners up.  The other schools in the heat were:  Bishop’s Stortford College, Goffs School, Cheshunt, Luton Sixth Form College, St George’s School, Harpenden and The Bedford Sixth Form College.

The chair of the judging panel, Phil Eckersley, said “There were a variety of interesting debates including a few new angles on forward guidance.  Fascinating heat resulting in a tight decision”.

Regional heats from Nottingham

The team from Loughborough Grammar School won the regional heat held at the Nottingham Racecourse on 18 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 The West Bridgford School, Nottingham were runners up.  The other schools in the heat were:  Ashby School, Ashby de la Zouch, Chesterfield College, Repton School Derby and The Boston Grammar School.

The chair of the judging panel, Alastair Cunningham said “It’s always encouraging to see teams defending novel policy conclusions as robustly as they did today – there was more to the decisions than interest rates alone”.


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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