Bank of England challenge success
A group of pupils finished runners-up in the regional heat of a prestigious economics competition.
The upper sixth pupils, who are studying both International Baccalaureate and A-level, joined forces to present a proposal to Bank of England representatives which centred on monetary policy and the prospects for inflation.
Kalina Tsaneva, Will Marston, Omer Tahir and Quentin Jeschka recommended an immediate increase in interest rates to 0.5% to try to lessen the likelihood of higher inflation during the presentation in-front of a panel of judges, and all pupils “spoke well”, stated Head of Business Studies, Economics and ICT Mr Farnell.
Thanks to the impressive nature of the proposal they finished in second place from a region that covered North Wales and Cheshire.
Acting head Roger McDuff, said: “This is a fantastic result and congratulations to all four pupils on their efforts.
“They worked incredibly hard in the lead-up to their presentation and their efforts were rewarded with a fantastic final placing, which was very pleasing indeed.”
The Bank of England Target 2.0 Challenge Target is a competition that gives teams of pupils aged 16 to 18 the chance to take on the role of the establishment’s Monetary Policy Committee.
Each team will assess economic conditions and the outlook for inflation and then set the interest rate to meet the Government’s inflation target of two per cent.