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Home > News and Publications > News Release - Target Two Point Zero results for 20 November 2015
 

News Release - Target Two Point Zero results for 20 November 2015

20 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.

Chelmsford | Oxford

Regional heats results for Chelmsford

The team from Colchester County High School for Girls won the regional heat held at the Essex County Cricket Club on 20 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 2015.
The team from King Edward VI Grammar School, Chelmsford were runners up.  The other schools in the heat were:  Chigwell School, Framlingham College, Southend High School for Boys and Southend High School for Girls.

The chair of the judging panel, Andy Murfin, said “An excellent day with lots of innovative policy ideas”.

Regional heats results for Oxford

The team from Beaconsfield High School won the regional heat held at the Unipart Conference Centre on 20 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 2015.

The team from Wycombe High School were runners up.  The other schools in the heat were:  John Hampden Grammar School, High Wycombe, Matthew Arnold School, Oxford, Ousedale School, Newport Pagnell, Stowe School, Buckingham and The Cherwell School, Oxford.

The chair of the judging panel, Fergal Shortall, said “Great to see the enormous amount of hard work all teams have put in today – all able to back up their view with clear evidence on the economic outlook”.

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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