Target 2 Point 5 - Schools Invited to Challenge Bank

The Bank of England and The Times today launch this year's 'Interest Rate Challenge', and invite 16 to 18 year old students across the UK to take on the role of the Monetary Policy Committee, to assess economic conditions and the outlook for inflation, and set an interest rate to achieve the inflation target of 2.5%.
Published on 11 June 2001

The 'Challenge' gives students a chance to get to grips with the economy, and learn how interest rates affect inflation, employment and growth. It also enables students to develop and demonstrate key skills such as team-working, communication, interpreting data and using IT - all now part of the curriculum. The winning team will receive £10,000 for their school, the runners-up £5,000, and third-placed team £2,000. Last year's Challenge was won by Harry Carlton Comprehensive School, Loughborough.

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