U.S. Treasury Secretary Janet Yellen on Tuesday said she remained vigilant to downside risks facing the global economy, given Russia's ongoing war against Ukraine and banking pressures, but the overall outlook was "reasonably bright."

The World Bank is ready to do its part in rebuilding Ukraine after the devastation of Russia's invasion, but international financial institutions cannot shoulder the sums involved alone and Western European countries will have to chip in, World Bank President David Malpass said on Tuesday.

The International Monetary Fund warned on Tuesday that lurking financial system vulnerabilities could erupt into a new crisis and slam global growth this year, but urged member countries to keep tightening monetary policy to fight persistently high inflation.

The Bank of Japan could help prevent abrupt policy changes later by allowing more flexibility in its bond yield curve control, the International Monetary Fund said in its global financial stability report released on Tuesday.

Malaysian banks can ride out tougher conditions this year amid a slowdown in the country’s growth rate and weaker borrowing appetite, according to S&P Global Ratings.

Thailand's economy is expected to grow 3.6% this year, Bank of Thailand (BOT) governor Sethaput Suthiwartnarueput said on Monday, adding that fiscal an monetary policy should prioritize stability rather than economic stimulus.