The Bank of England’s Deputy Governor Ben Broadbent in a newspaper interview with The Telegraph (UK) stated the UK economy is entering a ‘menopausal’ phase to describe the slowdown in the country’s economy. The statement wasn’t welcomed and spurred disapproval all over tagging the comment to be ‘sexist’ and ageist.
The deputy governor used the term to refer to the ongoing deceleration in growth and wages in the UK. However, he suggested there is a high possibility of getting the economy back on track with the employment of advanced technology such as Artificial Intelligence (AI).
Broadbent swiftly apologised for his ‘poor choice of language’ and clarified his comment : “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.”
“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 19th century. Economic productivity is something which affects every one of us, of all ages and genders,” he added.