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Economists take up Bank of England Challenge


In a week where the economy has never been out of the headlines a team of Economics students from Walthamstow Hall were pitting economic strategy against five other schools as part of the Target 2.0 Challenge organised by the Bank of England and The Times.


Over 300 schools from across the country enter the prestigious competition every year with each team of four assuming the role of the Bank of England’s Monetary Policy Committee and determining the base rate and policy which would sustain growth whilst bringing inflation down by the 2 per cent target implied by the competition title.


On Wednesday Walthamstow Hall’s team took part in the South East regional finals, giving a 15 minute presentation to Bank of England judges followed by a gruelling question and answer session.


The four Upper Sixth students, Alice Somerset (team captain), Georgina Sharp, Holly McIntyre and Aisling Efthimiou were the only all girl team in a field which included Skinners and Hurstpierpoint schools. The girls’ slick presentation ably demonstrated their knowledge and understanding of the state of the UK economy and earned them second place (they were pipped to the post by Brighton College) and a mention in yesterday’s Times!


Speaking after the competition Walthamstow Hall’s Head of Economics and Business Studies, Ms Libby Ancrum said;


“This is the first time that Walthamstow Hall has competed in this prestigious event and I am thrilled that the girls have been rewarded for their dedicated hard work and team effort. The Target 2.0 Competition is an example of independent learning at its very best with students using their own research and analysis to negotiate monetary policy and contending with economic news and developments changing by the minute in the lead up to their presentation.”