diff --git a/LATEST-VERSION.txt b/LATEST-VERSION.txt
index a78cd683b..90c354dec 100644
--- a/LATEST-VERSION.txt
+++ b/LATEST-VERSION.txt
@@ -1 +1 @@
-v0.47
+v0.48
diff --git a/RELEASENOTES.md b/RELEASENOTES.md
index 734c6b517..8b1378917 100644
--- a/RELEASENOTES.md
+++ b/RELEASENOTES.md
@@ -1,4 +1 @@
-- __BREAKING CHANGE:__ Require the AWS region to always be specified with the `--aws-region` argument or `AWS_REGION` environment variable if using AWS S3 for blob storage. Previously, this was optional (with a warning) if you weren't specifying an AWS session token.
-- __BREAKING CHANGE:__ Drop support for deprecated `AWS_ACCESS_KEY` and `AWS_SECRET_KEY` environment variables in `gh gei` and `gh bbs2gh`. The AWS S3 credentials can now only be configured using the industry-standard `AWS_ACCESS_KEY_ID` and `AWS_SECRET_ACCESS_KEY` variables or command line arguments.
-- __BREAKING CHANGE__: Require the Bitbucket Server URL, project key and repo to always be provided for `bbs2gh migrate-repo`, even if using the upload-and-migrate (`--archive-path`) or migrate-only (`--archive-url`) flows
-- Increase timeouts in archive uploads to AWS to prevent timeouts during large uploads
+
diff --git a/releasenotes/v0.48.md b/releasenotes/v0.48.md
new file mode 100644
index 000000000..734c6b517
--- /dev/null
+++ b/releasenotes/v0.48.md
@@ -0,0 +1,4 @@
+- __BREAKING CHANGE:__ Require the AWS region to always be specified with the `--aws-region` argument or `AWS_REGION` environment variable if using AWS S3 for blob storage. Previously, this was optional (with a warning) if you weren't specifying an AWS session token.
+- __BREAKING CHANGE:__ Drop support for deprecated `AWS_ACCESS_KEY` and `AWS_SECRET_KEY` environment variables in `gh gei` and `gh bbs2gh`. The AWS S3 credentials can now only be configured using the industry-standard `AWS_ACCESS_KEY_ID` and `AWS_SECRET_ACCESS_KEY` variables or command line arguments.
+- __BREAKING CHANGE__: Require the Bitbucket Server URL, project key and repo to always be provided for `bbs2gh migrate-repo`, even if using the upload-and-migrate (`--archive-path`) or migrate-only (`--archive-url`) flows
+- Increase timeouts in archive uploads to AWS to prevent timeouts during large uploads