The U.S. Federal Reserve is widely expected to leave its key overnight interest rate unchanged when it announces its next rate decision this afternoon.

The federal funds rate has been at a 45-year low of 1% since June.

There are definite indications that the economy has turned up since the Fed’s last interest rate announcement in mid-September. Consumer spending is strong and jobs are finally being created south of the border.

U.S. consumer confidence figures released by the Conference Board showed an improvement in October after declining in September, thanks to improving job markets.

The Conference Board’s Consumer Confidence Index now stands at 81, up from 77.0 in September. The Expectations Index rose to 90.7 from 88.5. The Present Situation Index increased to 66.8 from 59.7.

“After declining for five consecutive months, the Present Situation Index reversed course in October,” said Lynn Franco, director of The Conference Board’s Consumer Research Center, in a news release. “A more favorable job market was a major factor in the turnaround. And, the belief that this trend will continue has boosted expectations.”

Those anticipating more jobs to become available in the next six months increased to 19.7% from 16.6%.

The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The cutoff date for October’s preliminary results was the October 21.