The US Federal Reserve is expected to keep short-term interest rates steady when it meets later today.
After a series of rate cuts over the past two-and-a-half years, early signs of an economic pickup is likely to mean further action to boost investment is not likely to be implemented.
Policymakers cut the trend-setting federal funds rate charged on overnight loans between banks 13 times since the start of 2001, most recently at the close of the last meeting on June 25th, to a 45-year low of 1 per cent.
Although the rate decision is in little doubt, the traditional post-meeting statement will be important.
The Fed in May shifted to a more complex assessment of economic risks - offering separate outlooks for growth and prices. In June, the FOMC called risks to expansion balanced but warned of the potential for "an unwelcome substantial fall in inflation."
The Fed's "beige book" summary of national economic conditions, released at the end of July, reported an increase in momentum at the beginning of the second half the year. Even the struggling manufacturing sector, hit by 2.6 million job losses since mid-2000, has been perking up.