Business leaders warn interest rates “will have to rise sixfold in 2 years”

Rising inflation will force interest rates to "rise sixfold in 2 years" according to business leaders. Charities predict repossessions will rise and business leaders say interest rates will have to increase to cope with inflation. Top business leaders have warned that interest rates "will have to rise sixfold in 2 years" to cope with rising inflation. The comments, which are sure to cause concern to millions of home owners, come as the Confederation of British Industry predicted that the Bank of England will be forced to begin increasing interest rates in spring as the cost of living soars. In the same vein, a number of major charities have also warned that repossessions are likely to increase over the next 12 months.