What does interest rate cut mean for mortgages and savers?

There will be gain for some consumers but pain for others after the Bank of England's decision

The emergency 0.5% rate cut by the Bank of England in the midst of the coronavirus outbreak will mean monthly savings for householders with tracker mortgages but more pain for savers as interest paid shrivels again - and for most borrowers who have fixed-rate mortgages, there is no gain at all.