Pupils from Aldenham School took the UK’s economic recovery into their own hands when they competed in a nationwide competition.

The students from the Aldenham Road school entered the 14th annual Target Two Point Zero - Bank of England and The Times Interest Rate Challenge, which sees 302 teams across the country compete for the trophy by debating the government’s economic policy.

In the regional heats, teams of four students aged between 16 and 18 were challenged to analyse UK and global economic data and their possible impact on inflation and the economic outlook for the UK - just as the Bank of England’s monetary policy committee does each month.

They then had to decide whether the bank’s current monetary policy is appropriate or if it needs adjusting to meet the 2.0 per cent inflation target set by the government.

In a presentation to the judges, they must justify their decision and answer questions from the panel.

The team from Aldenham School - captain Owen Collier, Elliot Allegretti, Toby Milsull and Florian Bererich - won their regional heat, which took place at the DeVere Hotel in Cheshunt on November 21.

They argued for an interest rate of 0.5 per cent, the same rate as that set by the monetary policy committee earlier this month, and recommended asset purchases worth £375billion - the same figure also agreed by the committee.

The winning team from each regional heat goes on to one of the six area finals to be held in February 2014, with the national final to be held on March 28 at the Bank of England in London.