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Target Two Point Zero
 
 
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Target Two Point Zero is an interest rate
Interest rate

An interest rate is the price a borrower pays for the use of money they do not own, for instance a small company might borrow from a bank to kick start their business, and the return a lender receives for deferring the use of funds, by lending it to the borrower....
 challenge in the UK set by the Bank of England
Bank of England

The Bank of England is the central bank of the United Kingdom and is the model on which most modern, large central banks have been based. Since 1946 it has been a Nationalisation institution....
 and The Times
The Times

The Times is a daily national newspaper published in the United Kingdom since 1785 when it was known as The Daily Universal Register.The Times and its sister paper The Sunday Times are published by Times Newspapers Limited, a subsidiary of News International....
.

et Two invites students aged 16 to 18 to take on the role of the Monetary Policy Committee
Monetary Policy Committee

The Monetary Policy Committee is a committee of the Bank of England, which meets every month to decide the official interest rate in the United Kingdom....
 to analyse current economic conditions in the UK and the outlook for inflation
Inflation

In economics, inflation is a rise in the general price level of goods and services in an economy over a period of time. The term "inflation" once referred to increases in the money supply ; however, economic debates about the relationship between money supply and price levels have led to its primary use today in describing price inflatio...
. Teams of four students must create a formal presentation that is delivered to a panel of judges from the Bank of England. The presentation must conclude 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
Consumer price index

A consumer price index is a measure of the average price of consumer goods and services purchased by households. It is a price index determined by measuring the price of a standard group of goods meant to represent the typical market basket of a typical urban consumer....
.

Following the initial presentation, which lasts a maximum of 15 minutes, the judges have the opportunity to ask questions about what has been said.






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Target Two Point Zero is an interest rate
Interest rate

An interest rate is the price a borrower pays for the use of money they do not own, for instance a small company might borrow from a bank to kick start their business, and the return a lender receives for deferring the use of funds, by lending it to the borrower....
 challenge in the UK set by the Bank of England
Bank of England

The Bank of England is the central bank of the United Kingdom and is the model on which most modern, large central banks have been based. Since 1946 it has been a Nationalisation institution....
 and The Times
The Times

The Times is a daily national newspaper published in the United Kingdom since 1785 when it was known as The Daily Universal Register.The Times and its sister paper The Sunday Times are published by Times Newspapers Limited, a subsidiary of News International....
.

The challenge

Target Two invites students aged 16 to 18 to take on the role of the Monetary Policy Committee
Monetary Policy Committee

The Monetary Policy Committee is a committee of the Bank of England, which meets every month to decide the official interest rate in the United Kingdom....
 to analyse current economic conditions in the UK and the outlook for inflation
Inflation

In economics, inflation is a rise in the general price level of goods and services in an economy over a period of time. The term "inflation" once referred to increases in the money supply ; however, economic debates about the relationship between money supply and price levels have led to its primary use today in describing price inflatio...
. Teams of four students must create a formal presentation that is delivered to a panel of judges from the Bank of England. The presentation must conclude 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
Consumer price index

A consumer price index is a measure of the average price of consumer goods and services purchased by households. It is a price index determined by measuring the price of a standard group of goods meant to represent the typical market basket of a typical urban consumer....
.

Following the initial presentation, which lasts a maximum of 15 minutes, the judges have the opportunity to ask questions about what has been said. They might ask the students to justify or clarify certain aspects of their interpretation of the economic conditions.

Structure of the competition

The Challenge has three identical rounds: regional heats, area finals and the national final. There is 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
MPC

MPC or Mpc or mpc stands for:...
’s own interest rate decisions.

See also

  • Monetary Policy
    Monetary policy

    Monetary policy is the process by which the government, central bank, or monetary authority of a country controls the supply of money, availability of money, and cost of money or rate of interest, in order to attain a set of objectives oriented towards the growth and stability of the economy....
  • Interest rate
    Interest rate

    An interest rate is the price a borrower pays for the use of money they do not own, for instance a small company might borrow from a bank to kick start their business, and the return a lender receives for deferring the use of funds, by lending it to the borrower....


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