What do you mean by "bank Interest Rates"? Bank cost of funds is a mix of deposit rates, EURIBOR and other ancillary costs. Given that wholesale rates are currently at an all time low you can be sure that they will rise as time progresses. The timing of any rise is dependent more on the Economic status of France/Germany than anything else. The amount of the rise is also dependent on these issues.
However as the margins on SVR mortgages in Ireland are also currently at an all time high in Ireland it is unlikely that a significant (>1%) rise in core rates will or can be passed directly on to mortgage clients. This is by no means certain and will depend on external factors such as competition and returns on income at such a future time.
"Few" years is the main concern. However any rise in rates is likely to be slow and spread over a longer time frame rather than aggressive in order not to damage the European Economy.