# 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.

## 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

| No. | Year | Winning school | Runner(s) Up | Other Finalists |
| 1 | 2001 | Harry Carlton Comprehensive School, Loughborough | The Perse School, Cambridge | Wimbledon High School, Wimbledon Queen Elizabeth's Grammar School St Patrick's Grammar School Torquay Boys' Grammar School |
| 2 | 2002 | Blackpool Sixth Form College | The Perse School, Cambridge | Wolverhampton Girls' High School, Wolverhampton Eton College, Windsor Highgate School, London Nottingham High School for Girls, Nottingham |
| 3 | 2003 | St Paul's School, Barnes | Eton College, Windsor | The Perse School, Cambridge Churston Ferrers Grammar School, Brixham The Beauchamp College, Leicester The Blackpool Sixth Form College, Blackpool |
| 4 | 2004 | Highgate School, London | 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 |
| 5 | 2005 | Cranbrook School | The Cheltenham Ladies’ College, Gloucestershire | Highgate School, London Royal Grammar School, Newcastle upon Tyne Wirral Grammar School for Boys, Merseyside Verulam School, St Albans |
| 6 | 2006 | Tonbridge School | 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 |
| 7 | 2007 | Leeds Grammar School | 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 |
| 8 | 2008 | The Tiffin Girls' School, Kingston-upon-Thames, Surrey | Loreto College, Coleraine, County Londonderry | Leeds Grammar School Peter Symonds College, Winchester Tonbridge School, Kent Wolverhampton Girls' High School |
| 9 | 2009 | Peter Symonds College, Winchester | 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 |
| 10 | 2010 | Dulwich College | 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 |
| 11 | 2011 | The Sixth Form College Farnborough | Dame Allan's Schools, Newcastle Upon Tyne | Hutchesons' Grammar School, Glasgow King Edward's School, Birmingham Stamford Endowed Schools Merchant Taylors' School, London |
| 12 | 2012 | St Paul’s School, Barnes | The Grammar School at Leeds | Queen Mary’s Grammar School, Walsall Brighton College Haberdashers’ Aske’s Boys’ School, Elstree Merchiston Castle School, Edinburgh |
| 13 | 2013 | The Grammar School at Leeds | St Paul’s School, Barnes Tonbridge School | King Edward VI School, Southampton Millfield School, Street Robert Gordon’s College, Aberdeen |
| 14 | 2014 | Oundle School | Bishop Wordsworth’s School, Salisbury | Ilford County High School Central Newcastle High School The Grammar School at Leeds Watford Grammar School for Girls |
| 15 | 2015 | The Perse School, Cambridge | Queen Elizabeth’s School, Barnet Wolverhampton Girls’ High School | Pate’s Grammar School, Cheltenham University College School, Hampstead Stewart’s Melville College, Edinburgh |
| 16 | 2016 | Pate’s Grammar School, Cheltenham | Loreto College, Coleraine | Saffron Walden County High School Magdalen College School, Oxford The Tiffin Girls’ School, Kingston-upon-Thames Kesteven & Grantham Girls’ School |