Bank of Britain deputy warns Britain economy entering 'menopausal' phase

Referring to Britain's economy Information Systems entering a "menopausal" phase after passing peak productivity, a deputy governor of the Bank of Britain has suggested. Ben Broadbent compared the current slowdown in development & wages to a lull at the finish of the 19th century, the time the rise of the steam era was over however the age of electricity was yet to begin. Today's economy can be experiencing a similar trough as it passes the boom of the digital era & wait for the following large breakthrough, possibly by artificial intelligence. In an interview by the Telegraph, Mr Broadbent, that sits on the committee which Determines interest rates, told financial Specialists used the "menopausal" metaphor for economies which were "past their peak...

TUC, CBI & MPs blast Bank of Britain over 'menopausal' economy comments - as it happened

FILE PHOTO: Deputy Governor of the Bank of England Ben Broadbent poses for a portrait in his office in London, England September 23, 2015. FILE PHOTO: Bank of England Deputy Governor Ben Broadbent speaks at the 'Future Forum 2017' event in St George's Hall, Liverpool, England November 16, 2017.

TUC, CBI and MPs blast Bank of England over 'menopausal' economy comments - as it happened

Bank of England's Broadbent apologizes for 'menopausal' remark

According to LONDON (Reuters) - Bank of England Deputy Governor Ben Broadbent apologizes on Wednesday for describing Britain's economy as going out of a "menopausal" phrase, a comment which was roundly criticized. "I'm sorry for my poor Selection of language in an interview by the Telegraph yesterday & regret the offense caused," Broadbent told in a statement. Broadbent had told the Telegraph which years of poor productivity & weak wage development meant England was going out of a "menopausal" moment.

Collected by :Irax John

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