Sweden's central bank has issued a new recommendation to keep 1000 kronor in cash at home per adult, citing the current global situation. Nearly six out of ten households need to top up their reserves to meet this level. The aim is to enhance payment options during disruptions, crises, or war.
Sweden's central bank recommends that each adult in households keeps 1000 kronor in cash at home as part of preparedness. This "war chest" should cover payments for a week's purchases of essential goods, based on the Consumer Agency's calculations of monthly food expenses. The amount can be adjusted to the household's specific needs, according to First Deputy Governor Aino Bunge.
The central bank stresses the importance of diverse payment methods, including a functioning Swish app on mobile and payment cards from two different networks. No specifics are given on amounts available digitally or via cards. Households are also encouraged to use cash regularly to maintain the system, without a set frequency.
The recommendation appears in a press release aimed at communicating more clearly to the public. Governor Erik Thedéen states: "Now we are a bit more specific, among other things, so that we can get it out to the Swedish people."
The context links to events like Russia's full-scale invasion of Ukraine in 2022, when Swedish households made large cash withdrawals. Surveys show that just over 40 percent of households already have at least 1000 kronor per adult at home. Aino Bunge assures there is no risk of cash shortage if more top up, due to existing reserves. She adds: "We have stocks of cash. And it's not that I'm urging everyone to rush out now and withdraw cash. This is a preparedness we should build over time."
