China's central bank Gov. Zhou Xiaochuan said last month that he is on guard against inflation and that monetary policy is now "neutral, " after a slightly easy policy stance in the past year.
Mr Tuchtfeld calculates that fiscal policy will be neutral or even slightly expansionary in 2012.
Barclays said investors should expect neutral monetary policy with a bias toward tightening liquidity through open market operations.
In a world with highly mobile capital, tax policy needs to be neutral toward different forms of business activity and not succumb to the temptation to pick winners and losers.
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Andrew Burns, head author of the report, said developing countries need to reduce their fiscal vulnerabilities by lowering short-term debt levels, reducing their budget deficits and returning to a more neutral monetary policy stance instead of constantly cutting rates to historic lows.
Volpon said that single-digit policy rates in Brazil will not be permanent like they are in the U.S.. This would require further policy changes to bring the neutral rate even lower.
This also demonstrates the more coordinated nature of policy making in the (Brazilian president) Dilma Rousseff administration, as a lower neutral rate involves not only fiscal-monetary policy coordination but also microeconomic reforms.
The law or state policy must have been adopted with a neutral or non-religious purpose.
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The law or state policy must have been adopted with a neutral or non religious purpose.
Second, the bank appears to be sending a strong signal to the rest of the government about the importance of maintaining tight fiscal policy as a precondition for a lower neutral rate.
By policy, they are expected to be revenue-neutral to the federal government.
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Sixteen respondents said it should be retained as it is, or in a slightly altered form, while five were neutral or had no comment to make on the policy.
"It was very clear that a task force was needed to really look at corporate tax policy and where there can be some common ground, a neutral sum game both on revenues and tax implications, " Mr. Wolf said.
Finally there will be a meticulously neutral forum in which this conversation can be conducted and where policy can be assessed on its merits.
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Wall Street had a difficult day Wednesday especially after the Federal Reserve sounded a fairly neutral view on the U.S. economy after its two-day policy meeting.
And while this columnist considers the gold standard to be the gold standard of monetary policy it will need to make its case empirically, rather than doctrinally, before a neutral body.
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