diff --git a/CHANGELOG.md b/CHANGELOG.md
index f5487b01..fbd7fba0 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,14 @@
 # Monaco Editor Changelog
 
+## [0.49.0]
+
+- New proposed `editorHoverVerbosityLevel` API
+- New proposed `newSymbolNamesProvider` API
+
+Contributions to `monaco-editor`:
+
+- [@timotheeguerin (Timothee Guerin)](https://github.com/timotheeguerin): Add support for TypeSpec language [PR #4450](https://github.com/microsoft/monaco-editor/pull/4450)
+
 ## [0.48.0]
 
 ### Additions
diff --git a/package-lock.json b/package-lock.json
index b03e0174..2295f9fd 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -1,12 +1,12 @@
 {
 	"name": "monaco-editor",
-	"version": "0.48.0",
+	"version": "0.49.0",
 	"lockfileVersion": 2,
 	"requires": true,
 	"packages": {
 		"": {
 			"name": "monaco-editor",
-			"version": "0.48.0",
+			"version": "0.49.0",
 			"hasInstallScript": true,
 			"license": "MIT",
 			"devDependencies": {
@@ -25,7 +25,7 @@
 				"jsdom": "^19.0.0",
 				"jsonc-parser": "^3.0.0",
 				"mocha": "^9.2.0",
-				"monaco-editor-core": "0.48.0-rc",
+				"monaco-editor-core": "0.49.0-rc",
 				"parcel": "^2.7.0",
 				"pin-github-action": "^1.8.0",
 				"playwright": "^1.32.2",
@@ -5394,9 +5394,9 @@
 			"dev": true
 		},
 		"node_modules/monaco-editor-core": {
-			"version": "0.48.0-rc",
-			"resolved": "https://registry.npmjs.org/monaco-editor-core/-/monaco-editor-core-0.48.0-rc.tgz",
-			"integrity": "sha512-e/k+px1voI36YTd/tae6s6GBqFSWybH0coMDCaHwDwYND85mcNzNw3UB6HIrU7NY2qPtLSTdbS3RFat8QUyrgw==",
+			"version": "0.49.0-rc",
+			"resolved": "https://registry.npmjs.org/monaco-editor-core/-/monaco-editor-core-0.49.0-rc.tgz",
+			"integrity": "sha512-7X6Tr8oF78ob/owxEO66MJRZ8abJaixsQrjqH4Gcz+0twPzT8FOhzPG2EHxYpjR1esxQRvjYhPStKN2ocSJ4Rg==",
 			"dev": true
 		},
 		"node_modules/mri": {
@@ -11150,9 +11150,9 @@
 			}
 		},
 		"monaco-editor-core": {
-			"version": "0.48.0-rc",
-			"resolved": "https://registry.npmjs.org/monaco-editor-core/-/monaco-editor-core-0.48.0-rc.tgz",
-			"integrity": "sha512-e/k+px1voI36YTd/tae6s6GBqFSWybH0coMDCaHwDwYND85mcNzNw3UB6HIrU7NY2qPtLSTdbS3RFat8QUyrgw==",
+			"version": "0.49.0-rc",
+			"resolved": "https://registry.npmjs.org/monaco-editor-core/-/monaco-editor-core-0.49.0-rc.tgz",
+			"integrity": "sha512-7X6Tr8oF78ob/owxEO66MJRZ8abJaixsQrjqH4Gcz+0twPzT8FOhzPG2EHxYpjR1esxQRvjYhPStKN2ocSJ4Rg==",
 			"dev": true
 		},
 		"mri": {
diff --git a/package.json b/package.json
index a94f1af6..8d7f6ea7 100644
--- a/package.json
+++ b/package.json
@@ -1,7 +1,7 @@
 {
 	"name": "monaco-editor",
-	"version": "0.48.0",
-	"vscodeRef": "e170252f762678dec6ca2cc69aba1570769a5d39",
+	"version": "0.49.0",
+	"vscodeRef": "dc96b837cf6bb4af9cd736aa3af08cf8279f7685",
 	"private": true,
 	"description": "A browser based code editor",
 	"homepage": "https://github.com/microsoft/monaco-editor",
@@ -52,7 +52,7 @@
 		"jsdom": "^19.0.0",
 		"jsonc-parser": "^3.0.0",
 		"mocha": "^9.2.0",
-		"monaco-editor-core": "0.48.0-rc",
+		"monaco-editor-core": "0.49.0-rc",
 		"parcel": "^2.7.0",
 		"pin-github-action": "^1.8.0",
 		"playwright": "^1.32.2",