Do you want to know how to read the Bible as a Catholic? Ask Pope Benedict:
In this regard, the Second Vatican Council points out three criteria that always apply for an interpretation of Sacred Scripture in conformity with the Spirit that inspired it.
First of all it is essential to pay great attention to the content and unity of the whole of Scripture: only in its unity is it Scripture. Indeed, however different the books of which it is composed may be, Sacred Scripture is one by virtue of the unity of God’s plan whose centre and heart is Jesus Christ (cf. Lk 24: 25-27; Lk 24: 44-46).
Secondly, Scripture must be interpreted in the context of the living tradition of the whole Church. According to a statement of Origen: “Sacra Scriptura principalius est in corde Ecclesiae quam in materialibus instrumentis scripta”, that is, “Sacred Scripture is written in the heart of the Church before being written on material instruments”.
Indeed, in her Tradition the Church bears the living memory of the Word of God and it is the Holy Spirit who gives her its interpretation according to the spiritual meaning (cf. Origin, Homilae in Leviticum, 5,5).
As a third criterion, it is necessary to pay attention to the analogy of the faith, that is to the consistence of the individual truths of faith with one another and with the overall plan of the Revelation and the fullness of the divine economy contained in it.
Read the whole speech; Pope Benedict is a Scripture scholar par excellence, and I have always found a deep understanding of Biblical thinking in his writings.