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The team in runner-up position in the Regional Heat of the Bank of England / The Times Interest Rate Target 2.0 competition - View Full Size Image
The team in runner-up position in the Regional Heat of the Bank of England / The Times Interest Rate Target 2.0 competition
18/11/2013 LORETO COLLEGE TEAM RUNNERS-UP IN BANK OF ENGLAND CHALLENGE

A team from Loreto College has finished in a close second place in its Regional Heat of the Bank of Englandís annual Target 2.0 Interest Rate Challenge.

Target Two Point Zero - The Bank of England and The Times Interest Rate Challenge gives teams of students aged 16-18 the chance to take on the role of the Bank of England's Monetary Policy Committee, assess economic conditions and the outlook for inflation and tell panels of judges what monetary policy they would set to achieve the Government's inflation target of 2.0%.

Loreto Collegeís team members, Maria McLaughlin, Conor Molloy, Conor OíNeill and Simon Purvis travelled to Chester, as Northern Irelandís sole representatives in a competition drawing entries from almost 300 schools from throughout the UK.† The team won high praise from the adjudicators for their performance in the competition, and were separated from the eventual winners by only the tiniest of margins.

Mr Michael James, Principal of Loreto College, paid tribute to the team members and to College Vice Principal Miss Belinda Toner and Head of Economics Mr Gerry McGouran, who had worked with the students in preparation for the competition.† Mr James commented that the students had represented Loreto College, and Northern Ireland itself, with great distinction in this very tightly-contested event.