On 11th November the Economics Department at Saint Olave’s hosted its own target 2.0 Monetary Policy competition. This involves students analysing economic trends and formulating policies to meet the inflation target for the economy of 2%.
The team from St. Olave’s competed against teams from Bromley High School for Girls, Chislehurst and Sidcup Grammar School, and St Paul's Boys school.
The team from Saint Olaves recommended keeping interest rates on hold at 0.5 as per its forward guidance policy as well keeping QE on hold at £375 bn. They also recommended making greater use of the British Business Bank to provide finance to small and medium sized businesses who are finding it difficult to get finance to undertake new investment.
We are especially grateful to Chris Giles Economics Editor of the Financial Times and Roy of Wawhani Asset Management for judging the competition. We are also grateful to the Parents Association for supporting the event by providing prizes, and catering on the day.
The day culminated with the team from St. Olave’s winning the overall event. Each member of the team was awarded with a kindle as a prize for their hard work.