There is a prediction interest rates will rise quite quickly if our country meets the Reserve Bank's expectation for GDP growth.

The central bank is forecasting the economy to grow at 3.2 percent this year and 4.2 percent next year.

Business correspondent Roger Kerr says those forecasts are actually higher than what the Reserve Bank is predicting for Australia. He says while it seems unlikely we will outperform Australia, if we do, interest rates could move towards five percent quite quickly.

Mr Kerr says the Reserve Bank has indicated it will start to lift the Official Cash Rate from the middle of the year.