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The Fed has put up rates—when will the Bank of England follow?

The key is the weakening pound

By George Magnus  

Governor of the Bank of England Mark Carney speaks at the 2015 Policy Exchange summer party, ©PolicyExchange

Read more: Ben Bernanke’s reasons to be cheerful 

On Wednesday, the Federal Reserve announced the first rise in US interest rates since 2006. Back then, “Thefacebook” had just been launched by a barely known student at Harvard named Mark Zuckerberg. It was that long ago. The question as to whether the Fed has done the right thing is…

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