Bank of England Target 2.0 Competition

Oxted School’s top performing Economists from Year 12 were invited by the Bank of England to apply to be a member of the Target 2.0 team.  

Four presenters were selected, Jack Mulligan, Lauren Mobbs, Peter Harber and Harry Cooper, who were supported by Mason Bond.  The students have been completing research on the current state of the macro economy leading to them making a judgement about the best strategy for interest rates and the money supply.  

They put forward their arguments to agents from the Bank of England in a regional heat on Monday 16 November at The Arora Hotel, Crawley.  If they are successful they will be invited to a regional final in February.  The national final takes place in March at The Bank of England itself.

It is a privilege to have a place in the competition which is highly prized by schools.  We have been impressed by the breadth of their research and the professionalism of their approach to the challenge.

The team gave a very professional and well-structured presentation to three agents from the Bank recommending that interest rates should not be raised yet from 0.5%.  The team felt that it would be appropriate to move interest rates up to 0.75% in third quarter of 2016.  

All four members of the team answered tricky questions on negative interest rates, the price mechanism of the oil market and the transmission mechanism for interest rates with confidence.  We are proud of their performance and pleased that they have been recognised by the Bank for an outstanding presentation.


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