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The Monetary Policy Committee (MPC) of the Bank of England (BoE) recently hiked its main policy rate for the first time in more than 10 years. The U.K. economy has not weakened as much as the MPC had feared last year in the immediate aftermath of the Brexit referendum, so the rate hike simply takes back the “insurance” easing that the central bank undertook in August 2016. So is the MPC’s rate hike a once-and-done affair, or does more tightening lie ahead?

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