People walk past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. BEIJING — Ratings agency Fitch no longer expects China to cut its policy rate this year, and has pushed back its expectations for a reduction to next year as the U.S. Federal Reserve keeps its interest rates high. Next year, "as the Fed begins to cut policy rates we think that should give a bit more space for the PBOC to maneuver," he said. The Fed last week held steady on its key interest rate and indicated just one cut by the end of the year. That contrasts with investor expectations heading into 2024 that the Fed would soon ease monetary policy after aggressively hiking rates.

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Persons: Fitch, Jeremy Zook, Zook Organizations: People's Bank of China, BEIJING —, U.S . Federal Reserve, U.S ., People's Bank of, Fed Locations: Beijing, China, BEIJING, People's Bank of China, Asia Pacific