At least 2 of 9 members called for early hike, June minutes show
Some warned rising costs from weak yen hurting household mood
Board debated risk of inflation overshoot at June meeting
BOJ kept rates steady in June, hiked at subsequent July meeting

TOKYO, Aug 5 Reuters At least two of the Bank of Japan39;s nine board members called for an early interest rate increase at a policy meeting in June, minutes showed on Monday, underlining the central bank39;s hawkish tilt that provides scope for further hikes ahead.

Members agreed that the yen39;s recent falls were among factors that push up inflation, and must warrant close attention in guiding monetary policy, the minutes showed.

The discussions underscore how yen moves and concerns over an inflation overshoot were key factors discussed at the BOJ39;s June meeting, and led to its decision in July to raise interest rates to levels unseen in 15 years.

With the Japanese currency having sharply reversed course to hit a 7month high on Monday, markets are focusing on BOJ Deputy Governor Shinichi Uchida39;s speech on Wednesday for clues on the pace of future rate hikes.

The yen39;s latest surge has been buoyed by weak U.S. labour data, which has stoked recession worries.

Given how latest yen rises are reducing the risk of an inflation overshoot, we expect the BOJ to hike rates at a cycle of once every six months, rather than at a more frequent pace, said Yoshimasa Maruyama, chief market economist at SMBC Nikko…