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Home > News and Publications > News Release - Target Two Point Zero results for 26 November 2015
 

News Release - Target Two Point Zero results for 26 November 2015

26 November 2015

Target Two Point ZeroAvailable 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.

Leicester | Oxford | Warrington | Worcester | York

Regional heats results for Leicester

The team from Oundle School, Nr Peterborough won the regional heat held at the Leicestershire County Cricket Club on 26 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 Stamford Endowed Schools, were runners up.  The other schools in the heat were:  Leicester Grammar School, Oakham School, Spalding Grammar School, The Beauchamp College, Leicester, Uppingham School, Oakham and Wellingborough School.

The chair of the judging panel, Alastair Cunningham, said “An exciting heat – while all but one team came to the same policy decision, the breadth and diversity of evidence brought to bear was impressive”.

Regional heats results for Oxford

The team from Magdalen College School, Oxford won the regional heat held at the Unipart Centre on 26 November 2015.  They recommended an interest rate of 0.25% 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 Royal Latin School, Buckingham were runners up.  The other schools in the heat were:  Denbigh School, Milton Keynes, Headington School, Oxford, Sir William Borlase’s Grammar School, Marlow, The Hazeley Academy, Milton Keynes and Wycombe Abbey School, High Wycombe.

The chair of the judging panel, Graeme Chaplin, said “Another enjoyable, thought-provoking group of presentations.   Really impressed by the hard work of the students”.

Regional heats results for Warrington

The team from Hutton Church of England Grammar School, Peston won the regional heat held at the Centre at Birchwood Park on 26 November 2015.  They recommended an interest rate of 0.375% 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 Clitheroe Royal Grammar School, were runners up.  The other schools in the heat were:  Bolton School Boys’ Division, Bolton School Girls’ Division, North Chadderton School, Oldham and Stretford Grammar School, Manchester.

The chair of the judging panel, John Young, said “Today I was particularly impressed with the ability of the teams to analyse economic data and draw from its conclusions for policy”.

Regional heats results for Worcester

The team from King Edward VI School, Stratford-upon-Avon won the regional heat held at the Worcester Rugby Club – Sixways Conference Centre on 26 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 Alcester Grammar School, were runners up.  The other schools in the heat were:  Droitwich Spa High School and Sixth Form Centre, Hereford Cathedral School, Pershore High School, and Stratford Girls’ Grammar School, Stratford-upon-Avon.

The chair of the judging panel, Steve Hicks, said “The judges were impressed with the delivery of the presentations and innovative policy recommendations”.

Regional heats results for York

The team from Hymers College, Hull won the regional heat held at the York Marriott Hotel on 26 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 Tadcaster Grammar School, were runners up.  The other schools in the heat were:  Fulford School, York, Richmond School and Wyke Sixth Form College, Hull.

The chair of the judging panel, Juliette Healey, said “Another excellent day with enthusiastic presentations and strong team efforts”.


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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