Published by Zeb BhamThe Bank of England base rate of interest could rise three times to reach 1.25 per cent before the end of the year, an economic research group has claimed.The National Institute for Economic and Social Research said the Bank will increase rates as part of its efforts to rein in inflation.Research fellow at the institute Simon Kirby said: "We don't want the anchor to drift given what's happening to oil prices, because then rates really will have to go up quite sharply to bring inflation back down to target," Bloomberg reports.A base rate rise could come by May, the news agency claims the expert said.The thinktank also yesterday suggested that the government delay spending cuts as part of an effort to limit the slowdown in economic growth.NIESR downgraded its predictions for growth this year to 1.5 per cent. November's forecast suggested growth would be at 1.8 per cent.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site