The Bank's Fellowship program was launched in 2003. It is designed to encourage leading-edge research and to develop expertise in Canada in a number of areas critical to the Bank's mandate: macroeconomics, monetary economics, international finance, as well as the economics of financial markets and institutions, including their stability. An important part of the Fellowship Program is the participation of the Fellowship recipients in an annual Learning Exchange here at the Bank. This provides an opportunity for the recipients to share their research findings and discuss issues of mutual interest with Bank staff. The meetings will take place Tuesday 31 October to 2 November.