Keystroke to Expand/Contract Selection

[si conehead]

In the past I have read where an entire selection can be expanded/contracted with a simple keystoke but I am  unable to remember what to do. As I recall, it is possible to expand/contract an entire selection by a simple keystroke. I am running the most current version of Photoshop.

Does anyone have an answer for me?

[Stephen Marsh]

Similar to this annotated screenshot:

[Bojan Živković]

There isn't built in keyboard shortcut, see explanation by @Stephen Marsh to assign keyboard shortcut.