Reuters

The U.S. central bank needs to keep raising rates gradually to keep the economy on an even keel, a Fed policymaker said Monday.

Asian shares edged up on Monday on optimism about global growth while the dollar was on the defensive as a subdued U.S. inflation outlook capped U.S. bond yields.

The dollar sagged against its major peers on Monday, losing traction as U.S. Treasury yields stayed low amid fading expectations that the Federal Reserve to hike interest rates again later this year.

Major central banks should press ahead with interest rate increases, the Bank for International Settlements said on Sunday.

The cool shade of the hills above Lisbon will offer leading central bankers an escape from the summer heat in the coming week, but there is little they can do to get away from their differing monetary policy conundrums.

World stocks advanced on Friday to end the week with a slight gain as a drop in the dollar helped boost slumping oil prices.

New U.S. single-family home sales rose in May and the median sales price surged to an all-time high, suggesting the housing market had regained momentum.

Canada’s annual inflation rate cooled more than expected in May, moving it further away from the Bank of Canada’s target and reducing the odds of an interest rate hike next month.

The dollar dipped to a four-day low against a basket of major currencies on Friday, as traders looked to U.S. inflation data due next week to provide more clues on the Federal Reserve’s policy outlook.

Evidence built on Friday that the sturdy improvement in euro zone economic growth touted by the European Central Bank is in place — albeit with some wobbles.