The White Road by Neil Gaiman

Can someone please explain to me the meaning of this story? I still feel like the man by the name of mister fox is guilty for why would he repeat the words "be bold" at the end, it's like he takes the persona of that which he was trying to repress. Also I don't understand the last lines, "what if the hunters come?, what if they come? what does it mean by that? The pale woman seems to be the shapeshifting fox, the baby who had a fox paw. I don't know who the intended really is.