Treasury Committee raises concerns over Bank of England diversity

It follows the appointment of two new members to the bank's monetary policy committee (MPC), which has left only one female on board and raised concerns about a gender imbalance on the interest rate-setting body.

Nicky Morgan, chair of the Treasury Select Committee, has now written to the Chancellor asking for evidence that enough is being done to encourage gender and ethnic diversity in recruitment.

"The Treasury must make all efforts to encourage as diverse range of candidates for the Bank's policy committees as possible", Morgan said.

Responding to Morgan's letter to the chancellor, a spokesperson for the Treasury said: "We are pleased the Treasury committee has agreed to the appointments of Prof Silvana and Sir Dave".

"In the future, the committee expects to be provided, prior to appointment hearings, with diversity data on the candidates applying to the associated position". The Committee has asked the Treasury for its specific confirmation that it's recruitment processes are within this remit.

Silvana Tenreyro of the Monetary Policy Committee and Sandy Boss of the Prudential Regulation Committee are the only women among the 23 individuals serving on the BoE's main policy panels.

That seat had previously been filled by Charlotte Hogg, who replaced Minouche Shafik in February.

Sir Dave was asked earlier this week whether he thought a woman was equally capable of taking on his role as deputy governor of markets and banking. It's two-thirds male, one-third female.

"There's a live debate in the United States at the moment, about the behaviours of economists that plays into this that may be deterring women from applying".

As well as identifying barriers to women entering and progressing in the financial services industry, the inquiry will examine the value to financial firms of having greater gender balance across all job grades and functions. It is due to meet for its first evidence session next Tuesday.

The committee will focus on HM Treasury's Women in Finance Charter and the progress made against it.

However, he admitted there was a gender pay gap at Threadneedle Street because "there's a lot more men than there are women" in senior roles.

Like this



20 October 2017
Yogi Adityanath celebrated Diwali with the Vantangiya community in Gorakhpur
The saffron-robed Chief Minister is also the head of Gorakhpur's Gorakhnath temple, one of the key shrines in the state. Colorful processions, the lighting of earthen lamps on the bank of Saryu river marked the celebrations this year.

20 October 2017
Premier League preview: Chelsea vs Watford
The English Premier League continues this weekend, so take a look at our tips and predictions for the Chelsea vs. They'll try to avoid losing three consecutive league matches for the first time since late October-November 2015.

20 October 2017
Equinix, Inc. (NASDAQ:EQIX) Under Analyst Spotlight
It is the same, as 67 investors sold C shares while 443 reduced holdings. only 124 funds opened positions while 435 raised stakes. Since May 8, 2017, it had 0 buys, and 7 selling transactions for $8.57 million activity. $2.31M worth of Equinix, Inc.

20 October 2017
Amir responds to Kohli's praise for him
He said that if you see during the Champions Trophy 2017 final, there was a social media war. I was so happy to play such an unbelievable spell.

20 October 2017
Just in time for Halloween - Snapchat's dancing hot dog costume
Snap, the maker of Snapchat and the Snapchat Spectacles, is selling a freaky dancing hot dog costume on Amazon for $79.99. It took the world by storm and now it's going to make an impression at Halloween.

20 October 2017
A Calendar of Our Safety Work
The information includes suspending accounts of violent groups, along with not letting people have abusive or hateful usernames. At that point, the company plans to not only ban direct threats of violence, but also tweets that condone violence.

20 October 2017
Boeing Venture Arm Invests in Pursuit of Urban Air Taxi Market Penetration
Boeing , the world's largest aerospace company, has invested million of dollars into an autonomous drone firm called Near Earth Autonomy .

20 October 2017
Varied Analyst Comments On Eldorado Gold Corporation (EGO), Ocwen Financial Corporation (OCN)
Technical analysis of Eldorado Gold Corporation (EGO) stock includes the study of technical indicators and past trends. The stock was trading at a distance of -45.52% from its 52-week highs and stands 20.34% away from its 52-week lows.

20 October 2017
Applied Materials, Inc. (AMAT)- Stocks having Bumpy Ride for the Day
The formula is calculated by looking at companies that have a high earnings yield as well as a high return on invested capital. Cypress Management Limited Liability Company (Wy) holds 1,225 shares. (NASDAQ: AMAT ) to report earnings on November, 16.

20 October 2017
Study links pollution to millions of deaths worldwide
It also topped the list of deaths linked to polluted air (1.81 million) and water (0.64 million), reports The Indian Express. It estimates the monetary cost in welfare losses at $4.6 trillion per year, or 6.2 percent of global economic output.