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| Version 3 | Version 4 |
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| Deputy governor sorry for calling economy 'menopausal' | Deputy governor sorry for calling economy 'menopausal' |
| (about 5 hours later) | |
| The Bank of England's deputy governor has admitted his comments that the UK economy is entering a "menopausal" era "conveyed ageist and sexist overtones". | |
| Ben Broadbent used the phrase in a Daily Telegraph interview about economies that were, he said, "past their peak, and no longer so potent". | |
| But in an internal message seen by the BBC he said he knew some bank staff had been offended and he was "truly sorry". | |
| He told colleagues he should not have used the word. | |
| "I recognise that while these are economic terms that have been used in the past, my use of the word "menopausal" conveyed ageist and sexist overtones and I should not have used it", he wrote on the Bank's internal website. | |
| "I was attempting to explain the meaning of the world "climacteric". As the journalist who was interviewing me has subsequently tweeted, I made it clear in the interview that this is a term which applies to both genders. | |
| He said he wanted to "emphasise how sorry I am for the offence my interview this morning has caused to Bank colleagues". | |
| Earlier he had issued a public apology. | |
| In it he said he was sorry for his "poor choice of language" and the "offence caused". | |
| He said productivity affected "every one of us, of all ages and genders". | He said productivity affected "every one of us, of all ages and genders". |
| But his comments have sparked a backlash. | |
| Sarah Smith, professor of economics at Bristol University, told the BBC they were "not useful". | Sarah Smith, professor of economics at Bristol University, told the BBC they were "not useful". |
| "It conveys a rather derogatory view of women. I've never thought of the menopause as not productive," she said. | "It conveys a rather derogatory view of women. I've never thought of the menopause as not productive," she said. |
| Carolyn Fairbairn, director-general of the CBI, called it a "poor choice of words" that distracted from the real issue at hand. | Carolyn Fairbairn, director-general of the CBI, called it a "poor choice of words" that distracted from the real issue at hand. |
| Jayne-Anne Gadhia, boss of Virgin Money UK, said: "When I read this I thought about my own menopause and was sure he meant that the future is hard work, challenging, renewing, worth fighting for, 100% positive and constantly HOT!" | Jayne-Anne Gadhia, boss of Virgin Money UK, said: "When I read this I thought about my own menopause and was sure he meant that the future is hard work, challenging, renewing, worth fighting for, 100% positive and constantly HOT!" |
| And TUC general secretary Frances O'Grady said: "There's no need to resort to lazy, sexist comments to describe problems in the economy." | And TUC general secretary Frances O'Grady said: "There's no need to resort to lazy, sexist comments to describe problems in the economy." |
| Mr Broadbent sits on the Bank of England's Monetary Policy Committee (MPC), which has been criticised for having only one female member on its nine-strong board. | Mr Broadbent sits on the Bank of England's Monetary Policy Committee (MPC), which has been criticised for having only one female member on its nine-strong board. |
| The economist is also thought to be to among a number of potential successors to the Bank's governor, Mark Carney. | The economist is also thought to be to among a number of potential successors to the Bank's governor, Mark Carney. |
| Artificial intelligence | Artificial intelligence |
| In his interview, Mr Broadbent compared a recent slowdown in UK productivity to a similar lull at the end of the 1800s, which has been described as a "climacteric" period. | In his interview, Mr Broadbent compared a recent slowdown in UK productivity to a similar lull at the end of the 1800s, which has been described as a "climacteric" period. |
| The term, which is borrowed from biology and is used for both sexes, means "you've passed your productive peak", the deputy governor said. | The term, which is borrowed from biology and is used for both sexes, means "you've passed your productive peak", the deputy governor said. |
| He suggested that the UK may be seeing a "pause" between two technological leaps forward - akin to one experienced by late-Victorian industrialists from steam to electricity. | He suggested that the UK may be seeing a "pause" between two technological leaps forward - akin to one experienced by late-Victorian industrialists from steam to electricity. |
| However, he said the economy could be awaiting its next big breakthrough, possibly as a result of Artificial Intelligence. | However, he said the economy could be awaiting its next big breakthrough, possibly as a result of Artificial Intelligence. |
| Mr Broadbent later stressed that his use of the word menopausal had only applied to the 19th Century. | Mr Broadbent later stressed that his use of the word menopausal had only applied to the 19th Century. |
| The Bank's attitude towards women has been questioned in the past. | The Bank's attitude towards women has been questioned in the past. |
| In 2013 the Bank announced a plan to phase out £5 notes featuring social reformer Elizabeth Fry, without plans to put a woman on any other bank notes. | In 2013 the Bank announced a plan to phase out £5 notes featuring social reformer Elizabeth Fry, without plans to put a woman on any other bank notes. |
| After pressure from campaigners the Bank announced it would make Jane Austen the face of the new £10 note. | After pressure from campaigners the Bank announced it would make Jane Austen the face of the new £10 note. |