Bank of Japan chief Kazuo Ueda said Friday the central bank will “very likely” raise interest rates if underlying inflation continues to increase, stressing future decisions will be data dependent. After its first interest rate hike in 17 years at its previous policy meeting in March, Ueda acknowledged Japan’s experience with zero interest rates over a long period means determining how high rates should go is a “challenge.” For now, however, the governor underscored the need to maintain accommodative financial conditions as underlying inflation is still “somewhat below” the BOJ’s target of 2 p…