The typical representative of the monetary neutrality theory is the monetary quantity theory, in which the Fisher equation mv=py of the monetary quantity theory, the change of money supply M will be fully reflected in the change of general price P, and the real interest rate and actual output will not be affected under the condition that the currency value is stable, that is, the inflation rate is certain, so the currency is neutral.

Fisher effect means that nominal interest rate equals real interest rate plus inflation rate. What he said is that under the condition that the real interest rate remains unchanged, the increase of inflation rate caused by money supply will lead to the increase of nominal interest rate.

Interest rates are different.