Rate cut if inflation comes down further: PNB

State-run Punjab National Bank (PNB) today said it would cut rates again if the rate of inflation eases further.

"If inflation comes down further, we will cut rate again," PNB Chairman and Managing Director K C Chakrabarty told reporters here.

Effective February 1, PNB has reduced its prime lending rate by 50 basis points to 11.50 per cent and also brought down home, auto and personal loan rates by similar percentage points.