BOJ board debated risk of overshoot in inflation - Sept mtg summary

TOKYO, Oct 3 (Reuters) - Some Bank of Japan policymakers said inflation may overshoot initial expectations, with one member saying it was important to communicate an exit strategy from ultra-easy policy when the "right timing comes," a summary of opinions at the BOJ's September meeting showed on Monday.

"There's a risk consumer inflation may deviate significantly upward from our baseline scenario, partly due to the impact of exchange-rate moves. This needs to be examined humbly and without any preconceptions," one board member was quoted as saying.

At the Sept. 21-22 meeting, the BOJ maintained ultra-low interest rates and its guidance pledging to keep monetary policy ultra-loose until inflation stably achieves its 2% target.
Reporting by Leika Kihara; Editing by Christopher Cushing

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