Making Money in Difficult Times

Making Money in Difficult Times

Published on 23 March 2009

boys sitting reading financial newspapersThe team from George Watson’s College came third out of the six finalists in the Bank of England / Times Interest Rate Challenge held at the Bank of England on Friday, winning £2000 for the School.

This was a tremendous result for the team of sixth year pupils (Richard Dunn, Gavin Hayes, Jacob Burnett and Angus Naismith) when a total of 296 teams entered the competition.

The team had to stand in front of the Bank of England’s rate-setting committee and suggest a new policy to tackle the present economic difficulties. They made a 20 minute presentation and were then subjected to 15 minutes of questioning from the judging panel of Charles Bean, the deputy governor of the Bank of England; Spencer Dale, executive director, chief economist and member of the Bank’s rate-setting committee; Tim Besley, member of the Monetary Policy Committee; and Anatoly Kaletsky, chief economic commentator and associate editor of The Times.

Gareth Edwards, Principal, attended the finals and said, “The four boys did tremendously well against fierce competition in an intimidating setting and before such high-powered judges. Congratulations to them all including Mrs Michele Neville, who coached and advised the team through to this prestigious event.”