We have an ‘author in the room’ policy so that expert staff can always explain their papers in person and challenge conventional wisdom. Our core values (which include being Inclusive and Collaborative) are embedded in everything that we do, including feeding directly into the performance management and remuneration of all colleagues. We are proud to have a number of thriving and influential employee network groups including Women in the Bank, LGBT+ and Allies, Bank of England Ethnic Minority (BEEM), Mental Health, Disability, Carers, Parents, and three Faith Networks. The Employee Network Groups help Bank colleagues bring their whole selves to work. I will talk more in a moment about the important work our BEEM network does to support BAME colleagues. Third, inclusive communications Inclusion also means engaging with all our stakeholders, internal and external, and being aware of the many ways in which the economic situation affects different people. Active engagement with a range of expert and non-expert stakeholders across the UK has always been important, but it is taking on new prominence in the information age. 4  All speeches are available online at www.bankofengland.co.uk/publications/Pages/speeches/default.aspx  4  Our agents and Bank officials meet thousands of business contacts across the UK each year to take the temperature of the UK economy.
Investing in Ethnicity & Race Speech given by Mark Carney, Governor Bank of England  Investing in Ethnicity & Race Conference 2019, Bank of England 28 March 2019  1  All speeches are available online at www.bankofengland.co.uk/publications/Pages/speeches/default.aspx  Introduction It’s a pleasure for the Bank of England to host this workshop on Investing in Ethnicity & Race. To pursue its mission, Bank of England must reflect the diversity of the people it serves. That hasn’t always been the case. Historically, central banks were run by the City for the City. The Bank’s first female Court member, Frances Heaton, was appointed only in 1993, while our first Black, Asian and Minority Ethnic (BAME) member, Lord Morris, followed five years later. I’m the 120th in a very long line of male, white Governors of the Bank. Over the last five years the Bank has implemented a concerted strategy to increase diversity and foster inclusion. These initiatives have had a material impact on all aspects of diversity at the Bank. We are now reinforcing them to further improve the retention and progression of BAME colleagues in particular, and to deepen progress on inclusion more generally. The Bank values diversity for at least three reasons. First, it is the right thing to do: a public institution should reflect the public it serves. Second, diversity helps to build the trust we need to fulfil our remits. The decisions that the Bank takes impact every UK citizen, but not everyone wants to be steeped in fan charts and stress testing.