The RBI announced its Second Quarter Review of Monetary Policy for the Year 2009-10 today and as expected, has left the key rates unchanged. Though the RBI kept key rates unchanged, it hiked Statutory Liquidity Ratio (SLR), the deposits that commercial banks are to park in government securities, by one percentage points to 25 per cent.

While this should have brought some cheer to the markets, they plunged deeper into the red not only because the RBI looks set to raise interest rates going forward, but also because the central bank has upwardly revised its target inflation by March 2010 end to 6.5% from 5% earlier.

The upward bias in interest rates was apparent from the RBI's move to hike the statutory liquidity ratio (SLR) to 25% from 24%. Having said that, whether interest rates in the future rise or not will depend on whether the inflation continues to rise the way it is doing now, and the economic momentum continues to pick up pace.

My office is a mess. I don’t feel like cleaning it – I’d rather play with the kids right now. So I say, “I will clean it in the future,” and I go play. A week later, my office is still a mess.

You’re not saving for retirement. You’re also spending as much as you bring in because you’re going out a lot and you just picked up a big HDTV and those car lease payments are whittling you down. So you say, “I will start saving in the future.” Five years later, you don’t have a dime in retirement.

Trent Hamm, of The Simple Dollar has a post that "Saying, I Will Do It In Future, Is An Excuse For Failure"