Asian shares inched higher, while the dollar started the week on the front foot after the U.S. jobs data underscored a tight labour market, firming up expectations that the Federal Reserve will again raise interest rates at its meeting next month.

Oil prices were roughly unchanged on Monday as investors weighed the prospect of tighter supplies from OPEC+ producers from May against concerns about weakening global growth that may dampen fuel demand.

The European Central Bank will need to raise interest rates again in May if inflation develops along the path seen in the bank's March economic projections, ECB chief economist Philip Lane told the Cyprus News Agency.

The International Monetary Fund expects global economic growth to dip below 3% in 2023 and to remain at around 3% for the next five years, Managing Director Kristalina Georgieva said on Thursday, flagging increased downside risks.

Japan's real wages fell in February for an eleventh month, labour ministry data showed on Friday, although the rate of the decrease slowed thanks to government energy subsidies aimed at curbing consumer inflation.

The World Bank has revised its 2023 economic growth projection for the oil exporters of the six-member Gulf Cooperation Council (GCC) downwards to 3.2% in its latest update released on Thursday, from 3.7% forecast in October.