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2020vision Merchants Connected ArchivesBoys see a return on their investments
Four high flying economics pupils have won the Bank of England's North West Economics Target 2.0 Challenge. The team, made up of Ben Cook, Ben Youell, Bara Taufik and Simon Macadam had the brief to act as the Bank of England's Monetary Policy Committee for the day with the power to set interest rates.
Simon Macadam, the team's captain explained why leaving interest rates untouched was the best option: "It might seem as if it was a simple decision to do nothing but, at the moment, the Bank of England has to counter the inflationary pressures of higher commodity prices such as oil against the fears of a double dip recession".
Simon, who has applied to study PPE at Oxford, explained that the team's decision was therefore to keep the Bank of England base rate at 0.5%. Mr Kay said: "The Bank of England competition stimulates analytical economics debate with our young men having to justify their decision to a distinguished panel from the Bank. The boys were praised for their knowledge of economics and their presentation. They now go to the Northern Finals to be held in Manchester in February."
