In Financial Market, Public Policy, and the East Asian Miracle by Stiglitz and Uy (World Bank Research Observer, vol. 11, no.2, 1996), the authors state that:
Lowering interest rates transfers incomes from households to corporations, and because the corporate sector has a higher propensity to save, aggregate saving increases.
Why does lowering interest rates benefit corporations over households? Is this presupposing that households are net savers, not net borrowers, and that corporations are the opposite?