Of course it's going to work, regardless of the reason for inflation. Lower demand and prices will come down. Neutral stance monetary policy is meant to grow th

Of course it's going to work, regardless of the reason for inflation. Lower demand and prices will come down. Neutral stance monetary policy is meant to grow the supply of money at the same rate as the economy grows in the long run (+2%), so if there is inflation beyond that it means the money supply is growing too fast for the capacity of the economy to produce, even if that's due to other reasons. Neutral stance monetary policy does not live in a vacuum and the target never stays the same, so I don't know what you mean by inflation is not caused by monetary policy. It's monetary policy being run incorrectly for the circumstances.