Survey suggests interest rate cuts not prompting increased spending

A survey has found that despite recent aggressive interest rate cuts, most of those who have benefited from cheaper mortgages say they're planning to save the extra cash, not spend it. Seems ironic, since I've just got an email from my bank saying that they're cutting their interest rates on all my accounts - most are around 1% now. But it looks like fears of redundancies are convincing people to save money, even though they will make little profit on doing so.