Bank of Japan chief Kazuo Ueda said Friday the central bank is watching the impact of a weak yen on inflation, saying that the currency’s drop of late is one of the factors accelerating inflation. Speaking at a press conference after a two-day policy meeting, Ueda said the BOJ would respond appropriately to the yen’s moves, adding that it would raise interest rates if inflation accelerates further toward its 2 percent goal. He said a detailed plan to reduce government bond buying, as decided by the Policy Board on Friday, will be announced after the next meeting in July. The BOJ will consult m…