Homeowners are preparing for an imminent hike in mortgage repayments.
The Bank of England is widely expected to raise interest rates from 4.75 per cent to five per cent on Thursday following its first increase in two years in August.
And economists now believe that there could be another move next year -perhaps in February - as the Bank's Monetary Policy Committee looks to bring rising inflation back under control.
There is even an outside chance of an immediate 0.5 per cent rise.
The "shadow" MPC, which meets under the auspices of the Institute of Economic Affairs, voted 7-2 to increase rates. Five wanted a quarter point jump but two thought a half point hit was needed.
Philip Shaw, of Investec Securities, said: "A 0.25 per cent hike in official rates looks virtually unstoppable on Thursday. The real debate is where rates head beyond November."
Mr Shaw said he still saw five per cent as the peak but added that he was "less confident" about this than before as concerns over rising inflation persist.
"The MPC will need a dose of soothing inflation news to calm its nerves if rates are going to climb no further," he said.
"We cannot deny there is a risk that rates rise to 5.25 per cent and possibly beyond if the MPC does not like what it sees on the inflation front."
Despite the recent fall in oil prices, business executives expect inflation to rise strongly in the coming months.
The latest Business Trends Report - the socalled poll of business polls - from accountants BDO Stoy Hayward reveals an inflation index that has jumped sharply between July and October, from 102.5 in July to 105.4 in October - one of the largest increases on record.
This, it says, implies Consumer Price Index inflation of 2.5 per cent in the first quarter of 2007 - well above the BoE's target of two per cent.
"If the Bank wants to pull CPI inflation back, it will have to keep its finger firmly on the interest rate button," the report warned.
Recent increases in household energy bills, up 1.2 per cent, the impact of tuition fees, with education costs up 4.4 per cent, and the rise in cost of clothing and household goods, ahead 3.2 per cent and 2.2 per cent respectively, are being blamed.
Kim Rayment, partner at BDO Stoy Hayward in Birmingham, said: 'The impact of the expected November interest rate rise will test the resilience of Midlands consumers."