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Bankers at both the U.S. Federal Reserve and the Bank of Japan (BoJ) met in the last 12 hours (on April 28) to decide where they would take monetary policy next. But, when they sat down to make decisions, they realized their options were limited. There was a lot they wanted to do but little they could do. Japan’s central bank pushed borrowing rates down into negative territory in January, joining its counterparts in the European Union,…