Four UVI Economists made the journey to the Arora Hotel in Crawley to compete in the Target 2.0 Challenge. The Challenge is a national event, which this year has seen over 350 schools from across the country enter. Teams put forward a 15 minute presentation on what they think the Bank of England should be doing with monetary policy to a panel of judges from the Bank of England, which is followed by some gruelling questions.
The team, comprising of Ben Clarke (Cubitt), Charlie Gilbert (Loveday), Chris Linford (Cubitt) and Henry Ward (Cubitt) put forward their proposition to maintain interest rates at 0.5%, and to keep the level of quantitative easing constant at the £365bn mark. Their argument was of an exceptional quality and whilst the boys didn’t progress to the next round they gave a very good account of themselves. Questions, ranging from how peer-to-peer lending was having an impact on the availability of credit from standard financial institutions to the likely impact that a slow-down in emerging markets would have on the UK economy, challenged the team and have helped them build on their understanding of the macroeconomic situation in the UK.