On Tuesday 22 March six finalists will compete in the national final of Target 2.0: the Bank of England and The Times Interest Rate Challenge. The six teams are from: Kesteven & Grantham Girls’ School, Loreto College, Coleraine, Magdalen College School, Oxford, Pate’s Grammar School, Cheltenham, Saffron Walden County High School and The Tiffin Girls’ School, Kingston-upon-Thames.
The teams take on the role of the Monetary Policy Committee (MPC). They present their assessment of the economy and the outlook for inflation to justify their monetary policy decision to a panel of four judges, three of whom sit on the MPC. Ben Broadbent, Deputy Governor for Monetary Policy, will chair the panel and will be joined Andy Haldane, Chief Economist and Member of the MPC, Martin Weale External Member of the MPC and Philip Aldrick, Economics Editor, The Times.
Looking ahead to the 16th national final of the competition, Ben Broadbent said: "I’m looking forward to hearing how the six finalist teams judge the outlook for growth and inflation, the balance of risks in the economy, and the implications for monetary policy. The presentations at the Target 2.0 Final never fail to impress and it is always an enjoyable day for the judges – I’m sure this year will be no different.”
Mr Broadbent will present the Interest Rate Challenge Trophy to the winning team along with a cheque for £5,000 for their school or college.