BOE and Times In­ter­est Rate chal­lenge un­der­way

The Pak Banker - - Front Page -

LON­DON

The 13th an­nual Tar­get Two Point Zero - Bank of Eng­land and The Times In­ter­est Rate Chal­lenge is now un­der­way, with 295 teams across the United King­dom com­pet­ing for the Chal­lenge Tro­phy and £10,000 for their school or col­lege.

Dur­ing the 43 re­gional heats, teams of four stu­dents, aged 16 to 18, will an­a­lyse UK and global eco­nomic data and their pos­si­ble im­pact on in­fla­tion and the eco­nomic out­look for the UK - just as the Bank of Eng­land Mon­e­tary Pol­icy Com­mit­tee does each month. The team must then de­cide if cur­rent mon­e­tary pol­icy is ap­pro­pri­ate or needs to be ad­justed, to meet the 2.0 per cent in­fla­tion tar­get set by the Government. In a pre­sen­ta­tion to a panel of Bank of Eng­land judges the team ex­plains their de­ci­sion then jus­ti­fies it through their an­swers to ques­tions from the panel. The win­ning team from each re­gional heat goes on to one of the six area fi­nals to be held in Fe­bru­ary 2013, with the na­tional fi­nal to be held on 22 March at the Bank of Eng­land in Lon­don.

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