Eight schools took part in the Kent Regional Heat each submitting a team of four students aged 16-18.  Like the Bank of England’s own Monetary Policy Committee, the teams had to consider factors affecting the UK’s economic and inflation outlook. They then had to decide what interest rate should be set to meet the Government’s 2.0% inflation target.

Competing against Tonbridge School, Battle Abbey School, Benenden School, Chatham House Grammar, Sackville, Kings Canterbury and Tonbridge Girls Grammar School, the Cranbrook team of four students recommended an interest rate of 0.5% compared with the Bank of England’s official rate of 0.5% set by the Monetary Policy Committee on 5th November.  They also recommended a total of £200bn of asset purchases under the Asset Purchase Facility, compared with the £200bn agreed by MPC.

This is the fifth time in nine years that Cranbrook School has won the heat and they went on to win the National title in 2005.

Mr Furminger, Head of Economics at the School said, “The students have been really enthusiastic doing their own research and taking responsibility for their own sections of the presentation.  They were highly commended by the judges and are already beginning to plan for the Area Final in February”.

The team comprised 6th formers Philippa Proud, Mark Epps, Jack Wyatt and Tom Nightingale.