News Release
Target 2 Point 5 - The Bank of England/Times Interest Rate Challenge, Results of the Regional Heat in Stratford upon Avon on 22 November 2002
22 November 2002
This year's Target 2 Point 5 Interest Rate Challenge is now underway with regional heats taking place at 40 locations around the United Kingdom.
From 18 to 29 November teams of four students from more than 230 schools and colleges are taking on the role of the Bank of England's Monetary Policy Committee, selecting what they see as the most appropriate interest rate to achieve the Government's inflation target of 2.5%. A panel of judges at each centre will be asking them about their choice, looking for the team which shows the clearest understanding of the issues and makes the best-argued case for their decision. The winning team from each regional heat goes on to one of the area finals to be held in February 2003, with the national final to be held in March at the Bank of England in London.
The team from Stratford-upon-Avon Grammar School for Girls in Stratford-upon-Avon won the regional heat held at The Falcon Hotel in Stratford-upon-Avon on 22 November. They recommended an interest rate of 4% compared with the Bank of England's official rate of 4%, set by the Monetary Policy Committee on 7 November.
The team from Kenilworth School in Kenilworth were runners-up, recommending an interest rate of 4%.
The other teams in the heat were Bablake School in Coventry, Heart of England School in Coventry, King Edward VI Grammar School in Stratford-upon-Avon and Rugby School in Rugby.
Note to Editors
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.
