After much deliberation, the Bank of England has cut its benchmark interest rates to a record low of 0.25% in response to the Brexit referendum vote that still has the UK’s economy reeling.

The monetary stimulus will be a balm to some in the marketplace, and an annoyance for others. Below are the winners and losers of the BOE’s rate cut, according to Bloomberg.

Winners

1. Stocks—Stocks rallied and rose following news of the cut, the weaker pound boosting shares traded on the FTSE 100 Index, its first advance in four days.

2. Banks—Bank stocks rose to their highest levels since the referendum vote thanks in large part to the BOE soothing the pain of lower interest rates with its 100 billion-pound loan program.

3. Homebuilders—Anticipation of lower interest rates boosted the UK’s Homebuilder Index by 3%; the low rates are expected to lower borrowing costs and boost demand.

4. Gilt—Government bonds will also benefit from the rate cut, as BOE announced it will buy 60 billion pounds-worth of gilts—the 10-year yield falling to record lows as a result.

Losers

1. The Pound—Obviously the pound will suffer from the rate cut, declining in value. British quid fell 1% compared to its peers following the announcement, though it has recovered from the 31-year low it hit during the aftermath of Brexit.

2. Pensions—Combined liabilities for UK funds jumped 70 billion pounds to 2.4 trillion following the BOE’s action, widening the deficit to the worst it's ever been.

3. Savers—The interest rate cut will drive the returns of citizens saving using their bank accounts even lower. [Bloomberg]