Calling all future economists!

“The Bank of England is looking for schools from Weaver Vale to take part in Target Two Point Zero 2016/17 – the Bank of England Interest Rate Challenge,” explained Graham.
The Interest Rate Challenge will see teams of four students from schools/colleges across the UK adopting the role of the Bank’s Monetary Policy Committee (MPC), which meets regularly to determine the official interest rate for the UK – Bank Rate – in order to meet the Government’s inflation target of 2.0%.
The Challenge is suited mainly for students of economics and business although it is open to all 16-18 year old students doing A level, AS level, IB, AVCE, Advanced higher, Higher, and other equivalent courses, with an interest in learning how the British economy and monetary policy work.
Teams will make a live presentation of their assessments to a panel of Bank of England judges. The presentations will be organised in two rounds – Regional Heats and Area Championships. This year’s regional heats will take place throughout the UK between the 21st November and the 2nd December 2016. The top schools will then progress to the Area Championships in six locations across the UK between the end of February and early March 2017. There is financial support available for travel expenses and the competitions will take place during the school day. Schools and colleges who are entering for the first time may also request a Bank of England mentor to assist with their preparation.
All participants will receive a certificate from the Bank. The six Area Championship teams will receive a Bank of England Interest Rate Challenge trophy for their school or college and individual prizes. Selected students from each of the Area Championships will be awarded a short internship at the Bank of England.
If you would like to know more about what the Challenge involves, you will find information on the Target Two Point Zero website at www.bankofengland.co.uk/education/Pages/targettwopointzero/default.aspx including details of last year’s participants and a webcast of highlights of last year’s Challenge. You can also contact the Target Team directly at targettwopointzero@bankofengland.co.uk.
If you would like to take part, please complete and return the entry form available on the Target website. The closing date for entries is 20 June 2016.
“It would be great to have strong representation at the challenge from Weaver Vale, so I encourage local schools and colleges to take part if they possibly can!” said Graham.