The UK is forecast to be the second-fastest growing of the world's most advanced economies this year and next, according to new projections from the International Monetary Fund (IMF). The rates of growth remain modest at 1.3% for both years, but that outperforms the other G7 economies apart from the US, in a torrid year of trade and geopolitical tensions. However, UK inflation is set to rise to the highest in the G7 in 2025 and 2026, the IMF predicts, driven by larger energy and utility bills. UK inflation is forecast to average 3.4% this year and 2.5% in 2026 but the IMF says this will be temporary, and fall to 2% by the end of next year. The G7 are seven advanced economies - the US, UK, France, Germany, Italy, Canada and Japan - but the group doesn't include fast-growing economies such as China and India.

An artificial intelligence tool could help governments decide whether or not to bail out a bank in crisis by predicting if the intervention will save money for taxpayers in the long term. The AI tool, developed by researchers at University College London (UCL) and Queen Mary University of London, assesses not only if a bailout is the best strategy for taxpayers, but also suggests how much should be invested in the bank, and which bank or banks should be bailed out at any given time. It is detailed in a new paper to be published today (November 17) in the journal Nature Communications. Using data from the European Banking Authority, the algorithm was tested by the authors on a network of 35 European financial institutions judged to be the most important to the global financial system. However, it can also be used and calibrated by national banks using detailed proprietary data unavailable to the public.

Artificial intelligence's scope is wide, with potential applications in almost all industries. But could AI's predictive powers be used to fix money-related crises before they materialise? A new artificial intelligence tool could help governments decide whether they should bail out a bank in crisis. It does so by predicting if government intervention would save taxpayer money in the long run. The AI tool was developed by researchers at University College London (UCL) and Queen Mary University of London.