The Bank of England’s latest interest-rate reduction has reduced returns on deposit accounts, costing households about £11 billion in lost savings income, according to industry estimates cited in market reports on Friday. While savers see lower earnings almost immediately, many homeowners have yet to benefit because their mortgage contracts remain fixed at rates agreed before the central bank started easing policy, analysts said. The divergence is widening the gap between deposit and borrowing costs, squeezing disposable income for millions of households.