利益／興味 率s could be 削除するd into 消極的な 領土 for the first time EVER to save the economy from no-取引，協定 Brexit 大混乱, 警告するs former BoE policymaker

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利益／興味 率s could be 削減（する） to below 無 for the first time in history to save the UK economy from 廃虚 in the event of a 大混乱／混沌とした no-取引，協定 Brexit, a former Bank of England policymaker has 警告するd.

David Blanchflower, who sat on the Bank's 通貨の 政策 委員会, from June 2006 to June 2009, told the 圧力（をかける） 協会 that policymakers may be left with little 選択 but to take 率s into 消極的な 領土 if a no-取引，協定 Brexit sends shockwaves through the economy.

That would mean that 商業の banks have to 支払う／賃金 the Bank of England money to 持つ／拘留する cash deposits with it - 上げるing incentives for them to lend to 世帯s instead. 利益／興味 率s on 貯金 and mortgages could be 削減（する） to below 1 per cent.

Bank of England 知事 示す Carney has come under 解雇する／砲火／射撃 over Brexit 分析 which 警告するd that 率s could rise to 5.5%.

In a savage critique of the Bank's 最近の シナリオ 分析 of Brexit, he said 知事 示す Carney and his team were 'stupid' to 示す that 率s could even r ise in a disorderly 撤退.

It comes after the Bank's 議論の的になる 'doomsday シナリオ' 報告（する）／憶測, published at the request of MPs on the 財務省 Select 委員会, 警告するd that 利益／興味 率s could rise as high as 5.5 per cent if a 急落（する），激減（する）ing 続けざまに猛撃する sent インフレーション 急に上がるing.

Mr Blanchflower said:?'It was stupid what they said.

'That was a big error. It would kill the British economy 石／投石する dead. The first thing you would have to start thinking about would be 消極的な 率s.'

The British-born 経済学者, who moved to the US in 1989, said the bank had 'very few arrows in the quiver' to 上げる the economy, with 率s at just 0.75 per cent having only recently been 解除するd off かつてない lows.

He said this would mean 消極的な 率s 'have to be on the （米）棚上げする／（英）提議する, because you'd be trying to encourage people to spend and not save'.

His comments come after 現在の MPC member Gertjan Vlieghe also took 目的（とする） at the Bank's Brexit 分析, 説 in a speech earlier this month that 率s were more likely to be 削減（する） than 引き上げ（る）d in a no-取引，協定 シナリオ.

The 警告 over?消極的な?率s 確認するs that the UK could be 長，率いるing into uncharted 経済的な 領土 if a 取引，協定 is not 安全な・保証するd.

While the 財政上の 危機 was 前例のない, the Bank at least had plenty of room to 削減（する） 率s to help 含む／封じ込める the fallout.

But Mr Blanchflower ? a 孤独な 発言する／表明する on the MPC calling for 率s to be 削減（する） in 2008 when others failed to see the 規模 of the 後退，不況 on the horizon ? said the Bank could also look to 再燃する its quantitative 緩和 programme again if needed.

David Blanchflower sat on the Bank's 通貨の 政策 委員会, from June 2006 to June 2009.

He said it could 'broaden out what it buys' under QE, perhaps looking to buy student 貸付金s or 所有物／資産／財産.

But 通貨の 政策 alone would not be able to 直す／買収する，八百長をする the 危機 that would be 誘発するd by a cliff-辛勝する／優位 Brexit, with 政府 and 会計の 対策 also 決定的な, he said.

'The obvious thing would be to 削減（する） 付加価値税 by five basis points, 増加する spending like there's no tomorrow and 捨てる aust erity,' he said.

While the Bank's last インフレーション 報告（する）／憶測 kept open the prospect of その上の 率 rises, Mr Blanchflower said 引き上げ（る）s were 'dead in the water'.

With the 全世界の economy slowing and growing whispers of a US 後退，不況 around the corner, he said Brexit was coming at a bad time.

'Whether attributable to Brexit or not, there's a 減産／沈滞 coming,' he 警告するd.