Thailand's government plans new borrowing of about 820 billion baht ($21.64 billion) in the 2023 fiscal year starting Oct. 1, mainly to finance a budget deficit, the finance ministry said on Tuesday, as it tries to bolster economic recovery.

The head of the World Trade Organization told Reuters on Tuesday that she expects that global trade forecasts will be revised lower from the current 3% for 2022, citing the ongoing Russia-Ukraine war and related food and energy crises.

U.S. consumer confidence grew by more than expected in September, according to a monthly report released on Tuesday, as a fall in gas prices helped assuage worries over the impact of inflation on household budgets.

Asian share markets slid on Wednesday as surging borrowing costs fed fears of a global recession, spooking investors into the arms of the safe-haven dollar and driving the Chinese yuan to record lows.

China's yuan tumbled against a rising dollar in early deals on Wednesday, with its offshore trades dropping to a record low, pressured by expectations for more Federal Reserve rate hikes.

The global economy will likely grow 2.2% in 2023, slower than the 2.8% projected earlier, weighed down by monetary tightening in advanced economies to fight inflation, the Organization for Economic Cooperation and Development said Monday.