BIS Review 60/2008  3  Graph 2  Terms of Trade 2005/06 = 100 Index  Index  120  120  100  100  80  80  60 1975  1982  1989  1996  2003  60 2010  Sources: ABS; RBA  Macroeconomic trends My next set of comparisons is of major macroeconomic aggregates.
Sixth, since external capital flows to emerging economies cannot be easily predicted and can also reverse even in the presence of sound fundamentals, monetary authorities often have to, in  BIS Review 27/2007  3  consultation with the government, make choices in regard to exchange rate and monetary management.