2  See also my letter to Nicky Morgan, Chair of the Treasury Select Committee, on 19 March 2019. See ‘Progressing Black, Asian and Minority Ethnic (BAME) talent in the workplace through collaborative action’, “The Middle” Report, available online at: https://www.thebbbawards.com/middle-research/ 3  6  All speeches are available online at www.bankofengland.co.uk/publications/Pages/speeches/default.aspx  6  We have recently decided to provide a seat at the table for our BEEM network at senior committees whenever diversity issues are discussed. And we have launched ‘Let’s Talk About Race’ workshops to help senior leaders become more comfortable talking about these issues. Third, we are ensuring greater accountability for BAME progression throughout the organisation. The Bank has published a huge amount of diversity data externally and internally since we first set diversity targets five years ago. We published our BAME pay gap for the first time in our 2018 Annual Report. We are currently reviewing the metrics we report to make sure they identify hotspots in terms of BAME recruitment, progression or retention. All managers’ participation in the inclusion agenda is assessed as part of annual performance reviews, and Executive Directors have specific diversity performance objectives. Finally, I am very pleased to announce today that the Bank is signing the Race at Work charter. This Charter commits organisations to five initiatives to improve ethnic diversity in the workplace. The Bank now has all five in place.4 Conclusion Choosing inclusion means listening and learning from others. That’s why it is so valuable to have forums like today.

3  All speeches are available online at www.bankofengland.co.uk/publications/Pages/speeches/default.aspx  3  In 2016 we setup a formalised talent management process for all employees, to ensure everyone has equal access to opportunities to discuss their careers. To enable us to continue to hire graduates from a broader set of disciplines and train them as economists and technical specialists we have introduced our Central Banking Qualification, in which new hires can earn Masters Degrees in Central Banking. And now around half of our graduates study economics, with the remainder plucked from the sciences, business and the humanities. To help develop the next generation, we are working with schools and universities to encourage a more diverse set of students to study economics and finance. We provide free classroom materials through our econoME initiative, and by the end of 2018 one quarter of all state secondary schools had registered for the programme, reaching an audience of 90,000 students. Over the past year we have made more than 300 school visits, of which 75 were by the Bank's committee members, including myself. Second, fostering an inclusive culture As we attract a more diverse workforce, we’re taking a number of initiatives to enable and encourage participation. Traditionally central banks have been notoriously hierarchical and deferential. To break down these barriers, we have changed how we make decisions to ensure that everyone participating has the same information at the same time, and can put forth their views.