'''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<ref>{{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}}</ref> |The Perse School, Cambridge |Wimbledon High School, Wimbledon<br>Queen Elizabeth's Grammar School<br>St Patrick's Grammar School<br>Torquay Boys' Grammar School |- bgcolor="#FFFFFF" | style="text-align:center" |2 | style="text-align:center" |2002 |Blackpool Sixth Form College<ref>{{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}}</ref> |The Perse School, Cambridge |Wolverhampton Girls' High School, Wolverhampton<br>Eton College, Windsor<br>Highgate School, London<br>Nottingham High School for Girls, Nottingham |- bgcolor="#FFFFFF" | style="text-align:center" |3 | style="text-align:center" |2003 |St Paul's School, Barnes<ref>{{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}}</ref> |Eton College, Windsor |The Perse School, Cambridge<br>Churston Ferrers Grammar School, Brixham<br>The Beauchamp College, Leicester<br>The Blackpool Sixth Form College, Blackpool |- bgcolor="#FFFFFF" | style="text-align:center" |4 | style="text-align:center" |2004 |Highgate School, London<ref>{{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}}</ref> |The Grange School, Northwich |Torquay Boys' Grammar School & Torquay Grammar School for Girls<br>Brighton College John Leggott Sixth Form College, Scunthorpe<br>The Perse School, Cambridge |- bgcolor="#FFFFFF" | style="text-align:center" |5 | style="text-align:center" |2005 |Cranbrook School<ref>{{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}}</ref> |The Cheltenham Ladies’ College, Gloucestershire |Highgate School, London<br>Royal Grammar School, Newcastle upon Tyne<br>Wirral Grammar School for Boys, Merseyside<br>Verulam School, St Albans |- bgcolor="#FFFFFF" | style="text-align:center" |6 | style="text-align:center" |2006 |Tonbridge School<ref>{{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}}</ref> |Haberdashers’ Aske’s School for Boys, Elstree, Hertfordshire |Nottingham High School for Girls<br>Leeds Grammar School<br>The Blackpool Sixth Form College<br>Wilson’s School, Wallington |- bgcolor="#FFFFFF" | style="text-align:center" |7 | style="text-align:center" |2007 |Leeds Grammar School<ref>{{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}}</ref> |Haberdashers' Aske's School for Boys, Elstree, Hertfordshire |Royal Grammar School, Newcastle-upon-Tyne<br>Peter Symonds' College, Winchester<br>Wilson's School, Wallington, Surrey<br>Bablake School, Coventry |- bgcolor="#FFFFFF" | style="text-align:center" |8 | style="text-align:center" |2008 |The Tiffin Girls' School, Kingston-upon-Thames, Surrey<ref>{{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}}</ref> |Loreto College, Coleraine, County Londonderry |Leeds Grammar School<br>Peter Symonds College, Winchester<br>Tonbridge School, Kent<br>Wolverhampton Girls' High School |- bgcolor="#FFFFFF" | style="text-align:center" |9 | style="text-align:center" |2009 |Peter Symonds College, Winchester<ref>{{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}}</ref> |Nottingham High School |George Watson’s College, Edinburgh<br>Haberdashers’ Aske’s Boys’ School, Elstree<br>Ilford County High School<br>King Edward VI Grammar School, Stratford-uponAvon |- bgcolor="#FFFFFF" | style="text-align:center" |10 | style="text-align:center" |2010 |Dulwich College<ref>{{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}}</ref> |Royal Grammar School, Newcastle upon Tyne |North London Collegiate School, Edgware<br>King Edward's School, Birmingham<br>The Blue Coat School, Liverpool<br>Peter Symonds College, Winchester |- bgcolor="#FFFFFF" | style="text-align:center" |11 | style="text-align:center" |2011 |The Sixth Form College Farnborough<ref>{{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}}</ref> |Dame Allan's Schools, Newcastle Upon Tyne |Hutchesons' Grammar School, Glasgow<br>King Edward's School, Birmingham<br>Stamford Endowed Schools<br>Merchant Taylors' School, London |- bgcolor="#FFFFFF" | style="text-align:center" |12 | style="text-align:center" |2012 | St Paul’s School, Barnes<ref>{{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}}</ref> |The Grammar School at Leeds |Queen Mary’s Grammar School, Walsall<br>Brighton College<br>Haberdashers’ Aske’s Boys’ School, Elstree<br>Merchiston Castle School, Edinburgh |- bgcolor="#FFFFFF" | style="text-align:center" |13 | style="text-align:center" |2013 | The Grammar School at Leeds<ref>{{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}}</ref> |St Paul’s School, Barnes<br>Tonbridge School |King Edward VI School, Southampton<br>Millfield School, Street<br>Robert Gordon’s College, Aberdeen |- bgcolor="#FFFFFF" | style="text-align:center" |14 | style="text-align:center" |2014 | Oundle School<ref>{{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}}</ref> |Bishop Wordsworth’s School, Salisbury |Ilford County High School<br>Central Newcastle High School<br>The Grammar School at Leeds<br>Watford Grammar School for Girls |- bgcolor="#FFFFFF" | style="text-align:center" |15 | style="text-align:center" |2015 | The Perse School, Cambridge<ref>{{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}}</ref> | Queen Elizabeth’s School, Barnet<br>Wolverhampton Girls’ High School |Pate’s Grammar School, Cheltenham<br>University College School, Hampstead<br>Stewart’s Melville College, Edinburgh |- bgcolor="#FFFFFF" | style="text-align:center" |16 | style="text-align:center" |2016 | Pate’s Grammar School, Cheltenham<ref>{{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}}</ref> | Loreto College, Coleraine |Saffron Walden County High School<br>Magdalen College School, Oxford<br>The Tiffin Girls’ School, Kingston-upon-Thames<br>Kesteven & Grantham Girls’ School |}
== See also == *Monetary Policy
==References== {{Reflist}}
==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