KOBE, Japan, Nov 27 (Reuters) - Bank of Japan board member Makoto Sakurai said on Wednesday the central bank can afford to spend time scrutinising data in deciding whether to ease monetary policy further, if the hit from slowing overseas growth on Japan's economy is moderate.

"If there's a crisis that could disrupt Japan's financial system ... a bold policy response is necessary," Sakurai said in a speech to business leaders in Kobe, western Japan.

"But if the overseas slowdown driven by trade woes is moderate, and the speed at which it affects Japan's economy is slow, we have room to scrutinise economic indicators in deciding on policy," he said. (Reporting by Leika Kihara; Editing by Chris Gallagher)