ECB's Jazbec says too early to discuss modifying quantitative easing

LJUBLJANA (Reuters) - The European Central Bank is not currently discussing modifying its 1-trillion-euros plus asset purchase program, ECB Governing Council member Bostjan Jazbec said on Wednesday.

"Monetary policy works with a lag so it is too early to discuss any other scenario but what has been agreed," Jazbec, who heads the Slovenian central bank, told reporters on the sidelines of a banking conference.

"At this moment we are not discussing exiting quantitative easing nor prolonging it," he added.

The ECB earlier this month said there was a growing risk that inflation would undershoot its target in 2017 so it stood ready to modify the size, composition or duration of the program, also known as quantitative easing.

The program was launched in March and is set to run until next September.

(Reporting by Marja Novak; Editing by Francesco Canepa and John Stonestreet)

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