We cling to the same predictable policy framework while our currency appreciates and the dilemma facing our exporters remains, writes John Walley. The world has changed and New Zealand needs to take notice.

The dollar gained against the greenback as improving US employment figures underpinned a rally on Wall Street.

Workers who will lose their jobs when the Summit Wool Spinners' Oamaru plant closes could struggle to find work and may have to move, the Otago Chamber of Commerce says.

The Reserve Bank says the OCR will stay at a record low of 2.5 per cent, as rising house prices are singled out as a threat to New Zealand's financial stability.