UPDATE 1-BOJ board's debate of more easing at June meet signals possible early action

* All options must be mulled if BOJ were to ease - one member

* Another says BOJ should study 'wide range' of policy tools

* Others feel content maintaining current monetary stimulus

* One warns against idea of paying banks to borrow from BOJ (Adds detail, context on policy and economy)

By Leika Kihara

OSAKA, June 28 (Reuters) - Bank of Japan policymakers debated the feasibility of ramping up stimulus at their meeting in June, according to a summary of their opinions, which could heighten speculation the central bank will top up monetary support as early as next month.

The discussions, released on Friday, also showed one board member urged that "all policy measures" should be on the table, underscoring the strains on Japan's export-reliant economy from slowing global growth and the U.S.-China trade war.

The policymaker said the BOJ must show its readiness to act if the economy's recovery is derailed.

"All policy measures, including adjustments in short- and long-term interest rates, an acceleration in the pace of money printing and an increase in the amount of asset buying, should be deliberated when considering additional easing," the member was quoted as saying.

Another board member said it was necessary to consider the feasibility of using "a wide range of tools" to ramp up stimulus, while being mindful of their effects and side-effects.

"Amid changes in the external environment such as growing expectations for monetary easing in the United States and Europe, the BOJ also needs to strengthen monetary easing," the member was quoted as saying.

Others in the nine-member board disagreed, calling for maintaining the current stimulus programme for the time being as the economy has so far sustained a moderate expansion, the summary showed.

The BOJ does not disclose the identity of those who made the comments at the rate review. Board member Goushi Kataoka has consistently called on the central bank to take stronger steps to stimulate the economy.

The BOJ kept policy steady this month but governor Haruhiko Kuroda signalled readiness to boost stimulus as global risks cloud the outlook, joining U.S. and European central banks in opening the door to additional easing.

Japan's economy expanded by an annualised 2.1% in the first quarter but many analysts predict growth will slow in coming months as the U.S.-China row wears on.

The summary underscores a rift within the board between those who see room to ramp up stimulus, and others who are worried about the rising cost of prolonged easing such as the knock to financial institutions' profits from near-zero rates.