BANK OF ENGLAND / Times 2.5

 

The school team of Michael Graham, Joe Mathewson, Paolo Santi and Adam Swersky scored a notable victory last week in the finals of the national competition - and scooped the first prize of £10,000.

Teams simulate the role of the Bank's Monetary Policy Committee and make decisions about interest rates in the light of current and expected economic conditions.  St Paul's recommended a cut of 0.25% to 3.5%.  All the other finalists voted to hold rates steady at 3.75%.

To reach the final St Paul's had to come through two pre-qualifying rounds, the first for the South West London area, and the second for the London region.  The six finalists included two other independent schools - Eton and The Perse, Cambridge and three from the state sector.

Judging was done by a distinguished panel of economists including two members of the MPC and Anatole Kaletsky, Economics Editor of The Times.

Afterwards, happy team members posed for photos with the Governor of the Bank, Sir Edward George.

Adam hopes to go on to Cambridge to read Economics, Michael, Joe and Paolo to Oxford to read Maths, PPE and Law respectively.

Further details are available from the Bank of England website.

Rob Jones