Target Two Point Zero

Target Two Point Zero was an interest rate challenge for students in the UK set by the Bank of England and The Times. Students aged 16 to 18 were asked to analyse the economic outlook and recommend what interest rate should be set. The students made a 15-minute presentation and were judged by Bank of England staff, through three rounds with an ultimate winner being selected in a national final. The Bank of England announced that 2017 was the last year of the competition{{Citation needed|date=April 2024}}.

The challenge

Target Two Point Zero invited students aged 16 to 18 to take on the role of the Monetary Policy Committee to analyse current economic conditions in the UK and the outlook for inflation. Teams of four students created a formal presentation that was delivered to a panel of judges from the Bank of England. The presentations were concluded with a recommendation on exactly what interest rate the team would set in order to achieve the UK government's inflation target of 2.0% CPI.

Following the initial presentation, which lasted a maximum of 15 minutes, the judges had the opportunity to ask questions about what had been said. They might have asked the students to justify or clarify certain aspects of their interpretation of the economic conditions.

Structure of the competition

The challenge had three identical rounds: regional heats, area finals and the national final. There was a sufficient time lapse between rounds to compel teams to change and update their presentation to take into account of new economic statistics, or the MPC’s own interest rate decisions.

Winners of the competition

border="0" cellpadding="4" cellspacing="1" style="margin-left:1em; background:#C0C0C0;"

!No.

!Year

!Winning school

!Runner(s) Up

!Other Finalists

bgcolor="#FFFFFF"

| style="text-align:center" |1

| style="text-align:center" |2001

|Harry Carlton Comprehensive School, Loughborough{{Cite web |date=2024-04-04 |title=Target 2 Point 5 - Harry Carlton Comprehensive School Wins National Final |url=https://www.bankofengland.co.uk/news/2001/march/target-2-point-5-winners |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|The Perse School, Cambridge

|Wimbledon High School, Wimbledon
Queen Elizabeth's Grammar School
St Patrick's Grammar School
Torquay Boys' Grammar School

bgcolor="#FFFFFF"

| style="text-align:center" |2

| style="text-align:center" |2002

|Blackpool Sixth Form College{{Cite web |date=2024-04-04 |title=Target 2 Point 5 - The Blackpool Sixth Form College Wins National 'Challenge' |url=https://www.bankofengland.co.uk/news/2002/march/target-2-point-5-blackpool-sixth-form-college-wins-national-challenge |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|The Perse School, Cambridge

|Wolverhampton Girls' High School, Wolverhampton
Eton College, Windsor
Highgate School, London
Nottingham High School for Girls, Nottingham

bgcolor="#FFFFFF"

| style="text-align:center" |3

| style="text-align:center" |2003

|St Paul's School, Barnes{{Cite web |date=2024-04-04 |title=Target 2 Point 5 - Bank's Interest Rate Challenge Winner Announced Today |url=https://www.bankofengland.co.uk/news/2003/march/target-2-point-5-winner-announced |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|Eton College, Windsor

|The Perse School, Cambridge
Churston Ferrers Grammar School, Brixham
The Beauchamp College, Leicester
The Blackpool Sixth Form College, Blackpool

bgcolor="#FFFFFF"

| style="text-align:center" |4

| style="text-align:center" |2004

|Highgate School, London{{Cite web |date=2024-04-04 |title=Target Two Point Zero - Interest Rate Challenge Winner Announced Today |url=https://www.bankofengland.co.uk/news/2004/march/target-2-0-winner-announced |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|The Grange School, Northwich

|Torquay Boys' Grammar School & Torquay Grammar School for Girls
Brighton College

John Leggott Sixth Form College, Scunthorpe
The Perse School, Cambridge

bgcolor="#FFFFFF"

| style="text-align:center" |5

| style="text-align:center" |2005

|Cranbrook School{{Cite web |date=2024-04-04 |title=Target Two Point Zero - Interest Rate Challenge Winner Announced Today |url=https://www.bankofengland.co.uk/news/2005/march/target-2-0-winner-announced |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|The Cheltenham Ladies’ College, Gloucestershire

|Highgate School, London
Royal Grammar School, Newcastle upon Tyne
Wirral Grammar School for Boys, Merseyside
Verulam School, St Albans

bgcolor="#FFFFFF"

| style="text-align:center" |6

| style="text-align:center" |2006

|Tonbridge School{{Cite web |date=2024-04-04 |title=Target Two Point Zero - Interest Rate Challenge Winner Announced Today |url=https://www.bankofengland.co.uk/news/2006/march/target-2-0-interest-rate-challenge-winner-announced-today |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|Haberdashers’ Aske’s School for Boys, Elstree, Hertfordshire

|Nottingham High School for Girls
Leeds Grammar School
The Blackpool Sixth Form College
Wilson’s School, Wallington

bgcolor="#FFFFFF"

| style="text-align:center" |7

| style="text-align:center" |2007

|Leeds Grammar School{{Cite web |date=2024-04-04 |title=Target Two Point Zero - Interest Rate Challenge Winner Announced |url=https://www.bankofengland.co.uk/news/2007/march/target-2-0-interest-rate-challenge-winner-announced |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|Haberdashers' Aske's School for Boys, Elstree, Hertfordshire

|Royal Grammar School, Newcastle-upon-Tyne
Peter Symonds' College, Winchester
Wilson's School, Wallington, Surrey
Bablake School, Coventry

bgcolor="#FFFFFF"

| style="text-align:center" |8

| style="text-align:center" |2008

|The Tiffin Girls' School, Kingston-upon-Thames, Surrey{{Cite web |date=2024-04-04 |title=Target Two Point Zero - Interest Rate Challenge Winner Announced |url=https://www.bankofengland.co.uk/news/2008/march/target-2-0-interest-rate-challenge-winner-announced |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|Loreto College, Coleraine, County Londonderry

|Leeds Grammar School
Peter Symonds College, Winchester
Tonbridge School, Kent
Wolverhampton Girls' High School

bgcolor="#FFFFFF"

| style="text-align:center" |9

| style="text-align:center" |2009

|Peter Symonds College, Winchester{{Cite web |date=2024-04-04 |title=Target Two Point Zero - Interest Rate Challenge Winner Announced |url=https://www.bankofengland.co.uk/news/2009/march/target-2-0-interest-rate-challenge-winner-announced |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|Nottingham High School

|George Watson’s College, Edinburgh
Haberdashers’ Aske’s Boys’ School, Elstree
Ilford County High School
King Edward VI Grammar School, Stratford-uponAvon

bgcolor="#FFFFFF"

| style="text-align:center" |10

| style="text-align:center" |2010

|Dulwich College{{Cite web |date=2024-04-04 |title=Target Two Point Zero - The Bank of England and The Times Interest Rate Challenge |url=https://www.bankofengland.co.uk/news/2010/march/target-2-0-the-boe-and-the-times-interest-rate-challenge |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|Royal Grammar School, Newcastle upon Tyne

|North London Collegiate School, Edgware
King Edward's School, Birmingham
The Blue Coat School, Liverpool
Peter Symonds College, Winchester

bgcolor="#FFFFFF"

| style="text-align:center" |11

| style="text-align:center" |2011

|The Sixth Form College Farnborough{{Cite web |date=2024-04-04 |title=Target Two Point Zero - Interest Rate Challenge winner announced today |url=https://www.bankofengland.co.uk/news/2011/march/target-2-0-interest-rate-challenge-winner-announced-today |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|Dame Allan's Schools, Newcastle Upon Tyne

|Hutchesons' Grammar School, Glasgow
King Edward's School, Birmingham
Stamford Endowed Schools
Merchant Taylors' School, London

bgcolor="#FFFFFF"

| style="text-align:center" |12

| style="text-align:center" |2012

| St Paul’s School, Barnes{{Cite web |date=2024-04-04 |title=Interest Rate Challenge winner announced today |url=https://www.bankofengland.co.uk/news/2012/march/interest-rate-challenge-winner-announced-today |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|The Grammar School at Leeds

|Queen Mary’s Grammar School, Walsall
Brighton College
Haberdashers’ Aske’s Boys’ School, Elstree
Merchiston Castle School, Edinburgh

bgcolor="#FFFFFF"

| style="text-align:center" |13

| style="text-align:center" |2013

| The Grammar School at Leeds{{Cite web |date=2024-04-04 |title=Interest Rate Challenge winner announced today |url=https://www.bankofengland.co.uk/news/2013/march/interest-rate-challenge-winner-announced-today |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|St Paul’s School, Barnes
Tonbridge School

|King Edward VI School, Southampton
Millfield School, Street
Robert Gordon’s College, Aberdeen

bgcolor="#FFFFFF"

| style="text-align:center" |14

| style="text-align:center" |2014

| Oundle School{{Cite web |date=2024-04-04 |title=Interest Rate Challenge winner announced today |url=https://www.bankofengland.co.uk/news/2014/march/interest-rate-challenge-winner-announced-today |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

|Bishop Wordsworth’s School, Salisbury

|Ilford County High School
Central Newcastle High School
The Grammar School at Leeds
Watford Grammar School for Girls

bgcolor="#FFFFFF"

| style="text-align:center" |15

| style="text-align:center" |2015

| The Perse School, Cambridge{{Cite web |date=2024-04-04 |title=Interest Rate Challenge winner announced today |url=https://www.bankofengland.co.uk/news/2015/march/interest-rate-challenge-winner-announced-today-2015 |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

| Queen Elizabeth’s School, Barnet
Wolverhampton Girls’ High School

|Pate’s Grammar School, Cheltenham
University College School, Hampstead
Stewart’s Melville College, Edinburgh

bgcolor="#FFFFFF"

| style="text-align:center" |16

| style="text-align:center" |2016

| Pate’s Grammar School, Cheltenham{{Cite web |date=2018-02-27 |title=Interest Rate Challenge winner announced today |url=https://www.bankofengland.co.uk/news/2016/march/interest-rate-challenge-winner-announced-today-2016 |access-date=2024-04-07 |website=www.bankofengland.co.uk |language=en}}

| Loreto College, Coleraine

|Saffron Walden County High School
Magdalen College School, Oxford
The Tiffin Girls’ School, Kingston-upon-Thames
Kesteven & Grantham Girls’ School

References

External links

[http://www.bankofengland.co.uk/education/targettwopointzero/index.htm bankofengland.co.uk]
[https://web.archive.org/web/20080517170250/http://business.timesonline.co.uk/tol/business/economics/target_2_0/ business.timesonline.co.uk]

Category:Bank of England

Category:Inflation in the United Kingdom

Category:Secondary schools in the United Kingdom

Target Two Point Zero

The challenge

Structure of the competition

Winners of the competition

See also

References

External links