Strategies for change: central banks’ quest for diversity

Dedicated diversity strategies remain uncommon among central banks, despite growing recognition of the need for better minority representation

In July 2021, Bank of England governor Andrew Bailey admitted the central bank had fallen short in fostering diversity and supporting minority staff.

It was a stark admission from the BoE, which on the surface has been one of the more active central banks when it comes to diversity within its walls.

Since 2014, the BoE has made ‘Diverse and Talented’ the first pillar of its bank-wide strategic plan. The plan set targets for women and black, Asian and minority ethnic (Bame) staff, to be met by

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