LONDON, March 29 (Reuters) - Britain needs a blueprint for dealing with future economic crises, given there may be little headroom for cutting interest rates, the Bank of England’s executive director for financial stability, Alex Brazier, said on Monday. As the past year of dealing with the COVID-19 pandemic has highlighted, Britain could enter the next recession with less room for monetary policy manoeuvre than it has been used to in the past, Brazier told a Reuters Newsmaker event. “So a new ‘recession policy playbook’ may be needed,” Brazier said. The BoE cut interest rates to a record low of 0.1% as the UK went into its deepest recession in three centuries last year due to lockdowns to fight the pandemic. The government also stepped in by granting payment “holidays” on mortgages and paying companies to furlough staff to avoid mass unemployment. If fiscal policy is going to take more of the burden in future, mechanisms will be needed to co-ordinate monetary and fiscal policies, Brazier said.