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Mr. Putin enjoys an approval rating at home that would make any Canadian or U.S. politician drool with envy.
Mr. Putin enjoys an approval rating at home that would make any Canadian or U.S. politician drool with envy.
(Mikhail Klimentyev/AP)

Putin’s next major battle: ‘Stagflation’

Vladimir Putin has successfully butted heads with the West before, but now faces a more unpredictable foe: stagflation.

On Friday, Russia surprised global markets by raising its key interest rate for the third time in five months to put a lid on rampaging inflation, while announcing that its economy barely grew in the second quarter.