Bank of England deputy 'sorry' for menopause remark

The Bank of England's deputy governor has apologised for using the word "menopausal" when describing Britain's sluggish economy.
Ben Broadbent made the comment when comparing the current slowdown to the lull at the end of the 19th century between the ages of steam and electricity.
In a Telegraph interview, he said some economists used the term "climacteric" to describe that period.Mr Broadbent said the biological term could apply to both genders but essentially meant "menopausal" and is used for economies that are "past their peak and no longer so potent".He said the cause of the current productivity slowdown, which has lasted almost 10 years, was uncertain but the knock-on effect means there is less money for public spending.Following some criticism, Mr Broadbent said: "I'm sorry for my poor choice of language... and regret the offence caused."He added: "I was explaining the meaning of the word "climacteric", a term used by economic historians to describe a period of low productivity growth during the nineteenth century. Economic productivity is something which affects every one of us, of all ages and genders."The episode will be seen as a setback for the Bank as it battles to improve its attitude to women.
It has faced criticism over a pay gap, a lack of diversity in top positions and for the fact only one woman currently sits on its key monetary policy committee.Some Twitter users were not impressed with the deputy governor's choice of words.@SebCavendish said: "Inappropriate use of the word; for many women menopause is liberating, freedom. Shame on you Bank of England's Ben Broadbent."
Inappropriate use of the word; for many women menopause is liberating, freedom. Shame on you Bank of England’s Ben Broadbent.— Seb Cavendish (@SebCavendish) May 16, 2018
“Mr Broadbent said financial experts used the ‘menopausal’ metaphor for economies that were past their peak.”

Mr Broadbent et al. clearly need to grow up and conjur up some less sexist economic jargon.— Amy ? (@amelie_elyse) May 15, 2018
Hey, dig this:

??BOE's Broadbent: economy is entering a "menopausal" phase

I guess the man has a very limited vocabulary.
He cannot explain anything related to the economy, but instead uses analogies, a mark of total ignorance.— Elizabeth Burke (@Burke_Esq) May 15, 2018
Another, @amelie_elyse, tweeted: "Mr Broadbent et al. clearly need to grow up and conjure up some less sexist economic jargon."And Elizabeth Burke, an investor and lawyer, said: "I guess the man has a very limited vocabulary."
More from Bank Of England

What the interest rates rise warning means for you

Checked your sofa? ?691m in old fivers were not exchanged before withdrawal as legal tender

Labour may move Bank of England's headquarters to Birmingham

Gordon Brown turns on Tony Blair over Bank of England independence

KPMG faces fight to retain prized Bank of England audit role

Why the Bank of England has raised interest rates

Mr Broadbent, who sits on the Bank of England's rate-setting committee, also told the Telegraph the bank would not "spoon feed" markets with interest rate guidance."Our communication is mainly addressed to the wider public," Mr Broadbent told The Telegraph. "Their (the City's) job is to put themselves in our shoes. We all have the same data."
Posted in:
Bank Of England
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Январь 2019    »