Target Two Point Zero - Interest Rates, Inflation and the Economy

This week marks the launch of the sixth year of the Interest Rate Challenge, a competition designed to give economics and business studies students across the UK the opportunity to take on the role of the Bank’s Monetary Policy Committee (MPC) and set the official interest rate for the UK to meet the inflation target of 2.0%.
Published on 23 May 2005

The Challenge involves teams of 16 to 18-year-olds assessing a wide range of economic data and issues to consider the outlook for the economy and inflation before deciding on the appropriate interest rate.

Mervyn King, the Bank’s Governor, launched the 2006 competition saying: ‘The Interest Rate Challenge is an excellent opportunity for students to demonstrate their understanding of the economy and key economic issues and the policy process involved in targeting inflation. Furthermore, the competition encourages team members to develop other important skills such as making a presentation and speaking in public, so I hope that schools and colleges will take up this invitation to participate in the Challenge.’

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