SSH private/public auth

"Alexander T. Lopata" <[email protected]> Sun, 13 Jul 2008 11:27:04 +0300
Newsgroups org.kernel.vger.linux-admin
Message-ID <[email protected]>
It seems that sshd does not see authorized_keys file in my home folder.
What I've done is put my openSSH public key in %h/.ssh/authorized_keys  
and configure my ssh client to use corresponding private key. But SSH 
still ask password. What can be wrong ?