KELLY College in Tavistock is facing an 'interest-ing' challenge in a national competition for schools and colleges.

Organised by the Bank of England and a national newspaper, the Target 2 Point 5 Interest Rate Challenge gives students a chance to get to grips with the economy and how the interest rate affects inflation. It also helps students develop skills such as team-working, communication, interpreting data and using IT.

The bank's governor said he felt sure students involved would enjoy taking part as much as he and his colleagues on the Monetary Policy Committee enjoy the real thing, and that they would learn a great deal from the experience.

The first round south-west heat is on November 27 in Exeter, with five Devon schools — including Kelly College — competing against three others from Somerset and the Channel Islands.