Bank of England Official 'Sorry' He Compared Economy to Menopause

Ben Broadbent

Bank of England deputy governor Ben Broadbent has raised eyebrows after labelling the United Kingdom economy as "menopausal", having moved past peak productivity.

In a Telegraph interview, he said some economists used the term "climacteric" to describe that period.

Ben Broadbent compared the current state of the economy to the late Victorian era, when a pause between steam technology and the age of electricity contributed to a slump in productivity.

Ben Broadbent had used the phrase in an interview with the Daily Telegraph to suggest the United Kingdom economy was past its peak.

Some Twitter users, however, were not impressed with the deputy governor's choice of words.

Nikki Garnett, a blogger, said: "How dare you Ben Broadbent?"

Another, @amelie_elyse, tweeted: "Mr Broadbent et al. clearly need to grow up and conjure up some less sexist economic jargon".

"Our communication is mainly addressed to the wider public", Broadbent told the British newspaper.

Broadbent's defense of how the central bank issues forward guidance follows the BoE holding interest rates steady on Thursday with Governor Mark Carney saying a rate hike was likely to happen before the end of the year if all went well. "We all have the same data".



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