diff --git a/.github/workflows/ci.yml b/.github/workflows/ci.yml
index 454f6c2..91b6e27 100644
--- a/.github/workflows/ci.yml
+++ b/.github/workflows/ci.yml
@@ -50,7 +50,7 @@ jobs:
       matrix:
         # When updating this, the reminder to update the minimum supported
         # Rust version in Cargo.toml and README.md.
-        rust: ['1.47']
+        rust: ['1.48']
     steps:
       - uses: actions/checkout@v3
       - name: Install Rust
diff --git a/Cargo.toml b/Cargo.toml
index e307a0f..85b91c6 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -6,7 +6,7 @@ name = "smol"
 version = "1.3.0"
 authors = ["Stjepan Glavina <stjepang@gmail.com>"]
 edition = "2018"
-rust-version = "1.47"
+rust-version = "1.48"
 description = "A small and fast async runtime"
 license = "Apache-2.0 OR MIT"
 repository = "https://github.com/smol-rs/smol"
diff --git a/README.md b/README.md
index 73f0bc5..18582ec 100644
--- a/README.md
+++ b/README.md
@@ -101,7 +101,7 @@ Another useful tool for making certificates is [mkcert].
 
 ## MSRV Policy
 
-The Minimum Supported Rust Version (MSRV) of this crate is **1.47**. As a **tentative** policy, the MSRV will not advance past the [current Rust version provided by Debian Stable](https://packages.debian.org/stable/rust/rustc). At the time of writing, this version of Rust is *1.48*. However, the MSRV may be advanced further in the event of a major ecosystem shift or a security vulnerability.
+The Minimum Supported Rust Version (MSRV) of this crate is **1.48**. As a **tentative** policy, the MSRV will not advance past the [current Rust version provided by Debian Stable](https://packages.debian.org/stable/rust/rustc). At the time of writing, this version of Rust is *1.48*. However, the MSRV may be advanced further in the event of a major ecosystem shift or a security vulnerability.
 
 ## License