Bank of England
The Deputy Bank of England Governor has apologised for his 'offensive' remarks.

Deputy Bank of England (BoE) Governor Ben Broadbent has apologised for comments in which he referred to the British economy as ‘menopausal’.

In an interview with the Telegraph, Mr Broadbent described the UK economy as ‘menopausal’, as it was past its peak productivity.

Specifically, Mr Broadbent  explained the term “climacteric” used by economists, which he said means “menopausal, but can apply to both genders. You’ve passed your productive peak.”

The comments prompted outrage, with many reprimanding his choice of words as discriminatory against women.

The BBC’s Scotland Editor tweeted:

Similarly, ITV’s Political Editor Robert Peston took to twitter to say:

 

In light of the controversy, Mr Broadbent released the following statement:

“I’m sorry for my poor choice of language in an interview with the Telegraph yesterday and regret the offence caused. 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.”

Mr Broadbent, a former Goldman Sachs economist, has held his position at the Bank of England since 2013.

The Bank of England recently came under fire for revealing a 24 percent pay gap, after having been forced to reveal its figures as part of a new government initiative to combat wage inequality between the sexes.

In response to the figures, the bank released a statement on its intention to take appropriate measures to redress the imbalances.

The bank said:

“We are working hard to address this imbalance through inclusive and diverse recruitment, including diverse shortlists and interview panels, offering flexible working, providing continual unconscious bias training, and fostering an inclusive culture.”

The bank attributed the gap to the higher proportion of males in senior roles compared to the women.