Some saw chance of fasterthanexpected rate hikes BOJ summary
One member said policy rate might rise more than markets expect
Some opinions at April meeting urged reducing BOJ39;s bond buying
BOJ kept rates steady in April, saw inflation near 2 for years
Finance minister, top currency diplomat keep jawboning weak yen

TOKYO, May 9 Reuters Bank of Japan board members turned overwhelmingly hawkish at their April policy meeting with some seeing the chance of interest rates rising faster than anticipated, a summary of opinions at the meeting showed on Thursday.

Many in the ninemember board called for steady rate hikes on prospects that inflation could durably stay, or even exceed, the central bank39;s 2 target, the summary showed.

If underlying inflation continues to deviate upward from the baseline scenario against the backdrop of a weaker yen, it is quite possible that the pace of monetary policy normalisation will accelerate, one member was quoted as saying.

The hawkish debate comes as BOJ Governor Kazuo Ueda signals the chance of multiple rate hikes ahead, heightening the possibility of an increase in shortterm borrowing costs in coming months.

Ueda told parliament on Thursday the central bank will scrutinise how the yen39;s recent declines affect the economy and inflation, in setting monetary policy.

If currency volatility affects, or risks affecting, trend inflation, the BOJ must respond with monetary policy, he said.

The BOJ39;s hawkish signals helped…