Perse team runners-up in area final of Bank of England competition
3 Mar 2014
Last week, five Perse sixth form students – Dylan Spielman, Charlotte Grace, Georgina Evans, Hannah Kirk and Hugh Goddard – headed to Luton for the area finals of the Bank of England Target 2.0 Interest Rate Challenge – the first round of which was held back in November.
This stage of the competition required the team to take on the role of the Bank of England’s Monetary Policy Committee and present to a panel of Bank of England judges. The team had to assess economic conditions and the outlook for inflation and then decide what level of interest rate or other monetary policy measure is necessary to meet the Government’s inflation target of 2.0%.
The Perse team gave a very spirited and well-informed presentation and finished runners-up in this closely contested area final to Oundle School. This is a fantastic achievement where the team was competing against seven other schools in the area and 40 other teams nationally.
Head of Economics, Jon Young said of their achievement:
“The team gave a very polished performance, particularly impressing with the depth of their responses to the judges’ questions, and the originality of their proposals. Their level of economic understanding reflected the enormous amount of time and effort each member of the team had contributed.”
The chair of the judging panel, Rosie Smith, said of the participating teams: “It’s great to see students so interested in economics and so energetic in presenting and defending their views”.
Well done to the team.