Waiting to hear about interest rate cut?

I am waiting to hear about any potential cut in the interest rate today - apparently we may see 1%! And there is talk that we may end up at 0%... putting that into perspective - on a £150,000 Interest Only Tracker Mortgage .55% above base rate - that would mean a monthly mortgage payment of only £69!
That's great for any first-time buyers who managed to get a tracker product last year...but is it making any difference to the economy as a whole? It seems to be a bit of a lottery...as all those who opted for fixed rates, or those who have trackers with banks who have a 'collar' are not benefitting at all.
I'm guessing the other big winners will be 'buy-to-let' landlords who have a tracker mortgage and continue to receive the same rental payments.
Gordon Brown made what was possibly a freudian slip yesterday by referring to a 'depression' rather than a 'recession'. I am certainly beginning to feel the onset of recession depression... as I feel I have been hit from all angles!