In the first report I have seen, Reuters notes that the credit market in Canada is tightening as we predicted a few months ago.  This is a result of the US Sub Prime crisis, and the participation by Canadian Banks.

More firms face growing demand pressure | Canada | Reuters

Sixty percent of firms said credit conditions had stayed the same in the fourth quarter compared to the previous quarter but 32 percent said borrowing had become even tougher.

A shift toward tighter credit was first noted in the third quarter, a reflection of the global credit crunch that began in August, but the Bank of Canada did not publish those results. It released the data on this question for the first time in Monday’s report.