Bank Of England Deputy Governor Apologises For Calling The UK Economy 'Menopausal'

Cornelia Mascio
Mag 17, 2018

The Bank of England's Deputy Governor Ben Broadbent has apologised for "offence caused" by his description of the United Kingdom economy as "menopausal" and past its peak. The Telegraph did not publish the quote in full.

Asked what "climacteric" meant, Broadbent explained it as a term economists use which means "you've passed your productive peak", adding that it was from Latin described something that is "menopausal but it applies to both genders".

His comments attracted derision in social media.

Sarah Wollaston, a lawmaker of Prime Minister Theresa May's Conservative Party, described Broadbent's comments as "pejorative tosh".

A year ago lawmakers said they were disappointed by finance minister Philip Hammond's slow progress at encouraging greater diversity at the highest levels of the Bank.

One of Britain's most senior economists, Mr Broadbent told the Telegraph in an interview that slow productivity growth in the United Kingdom right now resembles a period of weakness in the late 19th century, called by economists a "climacteric" time - which he said translated as "menopausal, but applies to both genders".

"Economic productivity is something which affects every one of us, of all ages and genders".

This story has not been edited by Firstpost staff and is generated by auto-feed.

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