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Home > News and Publications > News Release - Target Two Point Zero results for 24 November 2015
 

News Release - Target Two Point Zero results for 24 November 2015

24 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.

Birmingham | Bristol | London | Luton

Regional heats results for Birmingham

The team from Wolverhampton Girls’ High School won the regional heat held at the Aston Business School Conference Centre on 24 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 Shrewsbury School were runners up. The other schools in the heat were: Bablake School, Coventry, Edgbaston High School for Girls, Birmingham, King Edward’s school, Birmingham, King Henry VIII School, Coventry, Queen Mary’s Grammar School, Walsall and Warwick School.

The chair of the judging panel, Graeme Chaplin, said “The judges were impressed by the high quality of today’s presentations and the level of economic understanding exhibited by the teams”

Regional heats results for Bristol

The team from Sir Thomas Rich’s School, Gloucester won the regional heat held at the Avon Gorge Hotel on 24 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 Churchill Academy and Sixth Form Centre, Winscombe were runners up. The other schools in the heat were: Cirencester College, Midsomer Norton Sixth Form, Radstock, Parkstone Grammar School, Poole, Sherborne School for Girls and St Laurence School, Bradford-on-Avon.

The chair of the judging panel, Stephen Collins, said “The judges were presented with a wide variety of policy proposals which reflected credit on the schools participating”.

Regional heats results for London

The team from London Academy of Excellence, Stratford won the regional heat held at the Prudential Regulation Authority on 24 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 2015.

The team from The Henrietta Barnett School, Hampstead Garden Suburb were runners up. The other schools in the heat were: Alleyn’s School, Dulwich, The Coopers’ Company and Coborn School, Upminster, Townley Grammar School, Bexleyheath and Waldegrave School, Twickenham.

The chair of the judging panel, Will Dowson, said “The presentations were of a high quality drawing on a wide range of information and a range of policy decisions were proposed. Enjoyable to judge!”.

Regional heats results for Luton

The team from Sandringham School, St Albans won the regional heat held at the Putteridge Bury Conference Centre on 24 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 n additional asset purchase £125bn, compared with the £375bn agreed by the MPC on 5 November 2015.

The team from Kimbolton School, Huntingdon were runners up. The other schools in the heat were: Dame Alice Owen’s School, Potters Bar, Davanant Foundation School, Loughton, Rickmansworth School and St Albans High School for Girls.

The chair of the judging panel, Phil Eckersley, said “A very tight contest with a real array of differing policy recommendations covering a broad range from tightening to accommodative”.


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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