DAVOS, Switzerland, Jan 20 (Reuters) - Monetary easing by central banks across the globe has reached its limits and prolonged stimulus raises the risk of distortions in asset prices, India’s central bank governor Raghuram Rajan said on Wednesday.

“Monetary stimulus has largely run its course,” Rajan told a panel at the World Economic Forum in Davos.

UBS Chairman and former Bundesbank chief Axel Weber echoed Rajan, saying central banks had very little room to manoeuvre and that it was now up to politicians to put structural reforms in place that would spur growth. (Reporting by Noah Barkin)