The Bank of England has cut interest rates by 3% to 2% today, which is the lowest level since 1951.A cut was widely expected by economists and has been welcomed by many commentators who believe the reduction will help the deteriorating economy. The reduction follows last month’s shock reduction of 1.5% and a cut of [...]

More: Interest rates cut to lowest level since 1951

It's a shame people on fixed rates won't be benefiting, overall its just the banks that are benefiting, as they are not passing on savings to their consumers

Yep - unless the cuts affect mortgage rates, then people will see little benefit.