19 For instance, Ueda [2006], focusing on the process of monetary policy management announced this time, maintains that it is a "mild inflation targeting with a target inflation rate of 1%." This is because, though the Bank of Japan has not promised to achieve price stability within a certain period of time, the policy interest rate is likely to be adjusted if the outlook of economic activity and prices one to two years ahead, that is deemed mostly likely by the Bank of Japan, is found to be inconsistent with the price stability defined as 0~2%. Still, Ueda says, "Arguing whether it is called inflation targeting or not is useless."