A team from George Watson’s College have reached the finals of the Bank of England / Times Interest Rate Challenge by winning the Scotland, Northern Ireland and North West England Area final held in Manchester, yesterday.
The team of sixth year pupils (Richard Dunn, Gavin Hayes, Jacob Burnett and Angus Naismith) will join five other regional winning teams in the finals, which will take place on 20 March in London at the Bank of England. A total of 296 teams entered the competition.
The team had to assess economic conditions and the outlook for inflation, and decide what level of Bank Rate they would set to meet the Government’s inflation target of 2.0%. Their win followed a 17 minute presentation / analysis of the UK and global economy and answers to the questions posed by the Bank of England economists.
The final is a big event with Deputy Governor of the Bank of England, Charles Bean, Tim Besley (Monetary Policy Committee) and Anatoly Kaletsky of The Times judging.