Warning of more economic pain

This is the Nine News Podcast.

Coming up the warning of more economic pain

North Queensland on serious cyclone watch

and who the Matilda's will face in the Asian Cup final.

I'm Josh Bryant with this morning's Nine News podcast.

Inflation could hit 5% this year

as the war in the Middle East hurts the Australian economy.

Federal politics editor Michael Packie explains.

Treasurer Jim Charmers will deliver a key pre-budget speech today

outlining savings, investment and tax reform

as the three pillars of his May blueprint.

He'll also highlight various scenarios

linking oil prices to inflation.

Treasurery predicts inflation could peak at 5% this year

if the price of oil hits 120 US dollars a barrel

as a result of the ongoing conflict in the Middle East.

Dr Charmers will also suggest the war will weaken economic growth

but has continued to hose down suggestions of recession.

Michael Packie, Nine News.

The Prime Minister will meet state and territory counterparts today

to discuss the ongoing fuel crisis

federal politics reporter Nelson Scott.

The war between Iran, the US and Israel

has sparked fears of lingering petrol and diesel shortages.

The government has so far tapped into the nation's fuel reserves

and approved for more low-grade petrol to enter the market.

National Cabinet will meet today in an attempt to synchronize

the strategies of federal and state governments.

Premieres and chief ministers will be asked to select a point person

to coordinate with the Commonwealth on fuel challenges.

The idea is not only to bring down fuel prices

but ensure farmers and truck drivers are getting enough diesel supplies.

In Cabinet, Nelson Scott, Nine News.

Five members of the Iranian National Women's Football Team

who dropped bids for asylum in Australia have now arrived

back in their home country.

They've been pictured crossing from Turkey into Iran,

human rights groups feared they were pressured to return

after initially seeking asylum

due to concerns of serious repercussions

for them staying silent during the national anthem

during the Asian Cup.

The Iranian intelligence minister has been killed

by Israeli strikes as the conflict in the Middle East continues.

State television in Iran confirming the death hours

after it was announced by the Israeli military,

the regime in Tehran also vowing retaliation after an attack

on a major gas field.

Back home North Queensland is bracing for what could be its worst cyclone

in more than a decade.

Tropical cyclone Narell has intensified to a category 3 system.

It's expected to make landfall on Friday,

north of Cooktown as a category 4,

with a chance of reaching severe category 5 forecast at Jonathan House,

saying significant property damage is anticipated based on the current forecast.

That does include roofs being ripped off,

damage to vehicles as well as loose items becoming airborne.

This also wins speeds can also cause extensive vegetation damage,

including trees being stripped of their leaves,

and power lines could also topple

leading to widespread power outage.

King Charles is hosting the first Nigerian state visit to the UK

in 37 years.

You're a correspondent Halena Sinclair explains.

The two-day visit to the UK after a picture-perfect start

with the Nigerian president and first lady,

given a Royal welcome, a courage procession bringing the visitors

to Windsor Castle, where a military band was playing.

There was also a gun salute, national anthem's played,

and guards inspected and later gifts exchanged.

Security has been incredibly tight for this state visit.

President Bola Ahmed Tanubu and his wife,

wearing traditional robes for the occasion,

and were first greeted by the Prince and Princess of Wales,

at a luxury hotel in Windsor before being escorted to formally meet

the King and Queen.

In London, Halena Sinclair, 9 News.

Also making news, the New South Wales government is floating the idea

of shutting down specialty tobacconists as a way to curb the tobacco black

market, and a Chinese man has been found trying to smuggle

2000 ends out of Kenya.

In finance, $1.00 a buying 70 US cents sport.

The Matilda's will play Japan in the Asian Cup Final

after the Japanese side dominated South Korea 4-1 in Sydney,

Australia heading into the decider as major underdogs.

Bulldogs coach Cameron Cerraldo is disappointed in the way Bronson Sherry

reacted to being dropped in the NRL.

The coach unable to guarantee the outside backs long-term future at the club.

Sydney will be without Isaac Heaney and Errol Golden for tonight's AFL clash

with Hawthorne at the MCG, the Hawks taking in an unchanged lineup

for the team that downed Essendon last week.

And the Waritas are searching for their first win in three matches

when they take on the Blues in super rogue reaction on Saturday.

Waritas had coach Dan McKellis as his side not letting any outside noise

distract them.

We're in a sold spot.

Obviously had a good start with the first two wins.

I know you guys and people outside will look at outcomes,

but please with how we played.

So here are a good spot.

I'm Josh Bryant.

That's the nine news podcast for latest in news.

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